SEBI in its board meeting yesterday, has approved sweeping reforms in many sectors. One such area is alternative listing opportunity to the SME sector. SEBI has created an Institutional Trading Platform (ITP) without the requirement of making an IPO. SEBI approved the proposal to amend the SEBI (ICDR) Regulations to permit listing of ‘startups’ and... Continue Reading →
Multi Brand Retailing: A few clarifications
You will recall my post titled FDI in Multi Brand Retailing: Reading between the fuzzy lines. In the last week, the Department of Industrial Policy and Promotion (DIPP) has brought out certain clarifications in relation to the hotly debated policy on FDI into multi brand retailing. On the issue relating to sourcing, the government has... Continue Reading →
To Contract or Sub-contract: That’s the question
My last post dealt with the liabilities of a principal employer vis-à-vis the contractor. The next big question is – who is this contractor and what are his obligations under the Contract Labour Act. A “contractor” is defined under the Contract Labour Act as follows: "contractor", in relation to an establishment, means a person who... Continue Reading →
Liabilities of a Principal Employer under the Contract Labour (Regulation and Abolition) Act, 1970
The liabilities of a principal employer under the Contract Labour Act are examples of vicarious liability on owners of establishments. The Contract Labour Act provides respite and recourse to contract labour from non-payment of wage by allowing them access to the principal employer in the event of a default by the contractor. A "principal employer"... Continue Reading →
Visiting the mythical notion of non-compete in the Indian contractual scenario
It is a common perception amongst entrepreneurs and businessmen that inclusion of a clause in any agreement restraining the other party from competing with itself is an effective protection. While no surprise to those initiated in the ways of the law, it comes as a shock to the others when you tell them this is... Continue Reading →
Special Courts: Blurring of boundaries or an unnecessary evil?
This innocuous little chapter 28 (dealing with Special Courts) has been one of the least discussed and debated chapters of the Companies Bill, 2012. Neither the Parliament nor the media appears to have paid any attention to it. I can only imagine, this is so, because as a country we have become accustomed to specialist... Continue Reading →
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