Zerick Dastur, Advocates & Solicitors

Dispute Resolution | Litigation | Securities Law | Corporate & Commercial Laws | Competition Law | Transactions & Related Advisory

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

This petiton was taken up by the Hon'ble Supreme Court today. Mr Fali Nariman and Mr Zerick Dastur appeared on behalf of the Petitioner, Surat Parsi Panchayat. #COVID19

[Live Law @LiveLawIndia]

For balancing religious sentiments with health concerns in the manner of last rites of Parsi Zoroastrians who have died in the COVID-19 pandemic, the Supreme Court on Monday requested SG Tushar Mehta and Senior Advocate Fali S. Nariman to confer
Read more: https://t.co/WMUGALruNW

[Harini Subramani @subramaniharini]

we've looked at SEBI's journey across the 3 decades of its existence; examined how its powers have changed especially in the post reformative era..look how far it's come and where it is at now (3/4)
https://t.co/DridqozfvP

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

Link to the SC judgment of 6th December, 2023 in Cox & Kings Ltd. v. SAP India Pvt. Ltd. & Anr.
https://t.co/aGLVtMaQVH

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

The Hon’ble Court has placed the burden of proof of satisfying the above factors to the satisfaction of the court or the tribunal on the party seeking joinder of a non-signatory to the arbitration agreement.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

Cumulative factors to be considered -
mutual intent of parties; relationship of a non-signatory to a party which is a signatory to the agreement; commonality of the subject-matter; composite nature of the transactions; and performance of the contract.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

The ��Group of Companies” doctrine provides that an arbitration agreement which is entered into by a company within a group of companies may bind non-signatory affiliates, if the circumstances demonstrate the mutual intention of the parties to bind signatories and non-signatories.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

Landmark judgement Alert: a 5 - judge bench of the SC held that the “Group of Companies” doctrine should be retained in Indian arbitration jurisprudence

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

You may read the entire judgement here - https://t.co/tEHqWN2uYI #Arbitration #StampAct

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

1/agreements which are not stamped or are inadequately stamped are inadmissible in evidence under Section 35 of the Indian Stamp Act, 1899. Such agreements are not rendered void or void ab initio or unenforceable

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

The decisions in (a) N. N. Global Mercantile (P) Limited v Indo Unique Flame Ltd (Constitution Bench) (b) SMS Tea Estates (P) Ltd. v Chandmari Tea Co. (P) Ltd. and (c) paragraphs 22 and 29 of Garware Wall Ropes Ltd. v Coastal Marine Constructions and Engg. Ltd. stand overruled.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

On Dec 13, 2023, a 7-Judge Constitution Bench passed a judgment unanimously holding that while unstamped or inadequately stamped agreements are inadmissible in evidence, they are enforceable in law and not rendered void. The Bench concluded as follows:

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

We've also discussed the NHAI vs SEBI case which provides a glimpse into SEBI's powers to relax strict enforcement under the SEBI LODR. Read on..

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

We recently wrote for @bbfIndia on the significant amendments to SEBI LODR, 2015 made in June this year, co-authored by @Khushil15 and Jennifer.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

(iii) approval requirements for business transfer agreements undertaken outside the scheme of arrangement route, and
(iv) validity of permanent board seats and timelines for filling vacancies of directors and KMPs.

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

We’ve written about this and more, co-authored by @subramaniharini in @bbfIndia 's latest edition of Forum Views

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

#DYK : To clarify issues and give guidance on clarifications sought by various stakeholders, 20 years ago, #SEBI introduced the ‘SEBI (Informal Guidance) Scheme, 2003’ (“IGS”)

[Zerick Dastur, Advocates & Solicitors @DasturZerick]

SEBI may dispose off the request asap & in any case, not > 60 days after receipt of request. SEBI is also not obliged to respond. There are certain instances where SEBI may not respond.