Author: Pinac Law

• Judicial Interventions in Shareholder Inspection and Access Rights – Beyond Companies Act 2013

  

  Judicial Interventions in Shareholder Inspection and Access Rights – Beyond Companies Act 2013 While recent judicial precedents have significantly expanded the scope of shareholder inspection and access rights (particularly in the context of activist shareholders, and oppression and mismanagement actions), the legislative framework for shareholder inspection rights under Indian Company Law remains largely ineffective and…

• Shareholder Disputes and Oppression and Mismanagement in Family-owned Companies – Key Considerations

  

  Shareholder Disputes and Oppression and Mismanagement in Family-owned Companies – Key Considerations Family companies are typically incorporated and managed basis informal family arrangements and mutual trust, often without any third-party involvement such as professional executives and advisors. Indian courts and tribunals treat family-owned companies differently and often grant wide ranging equitable reliefs in oppression and…

• Acquiring lands in Odisha for Industrial Use – Key Considerations under local land legislations

  

  Acquiring lands in Odisha for Industrial Use – Key Considerations under local land legislations Odisha is a preferred investment destination, particularly in real estate-intensive sectors, such as manufacturing, renewables and heavy industrials. Manufacturing in Odisha saw an average growth rate of 10.3%1 and the state ranked 3rd amongst all Indian states in investments in the…

• Artificial Intelligence (AI) Governance Policy for Indian Workplaces – Essential Considerations

  

  Artificial Intelligence (AI) Governance Policy for Indian Workplaces – Essential Considerations In 2023, engineers of a South Korean consumer goods company inadvertently uploaded proprietary source code to a generative AI platform for routine de-bugging, which became permanently embedded in the AI platform’s training data. The employer promptly implemented an enterprise level ban for use of…

• Navigating Prosecution under the Legal Metrology Act – some key pointers

  

  Navigating Prosecution under the Legal Metrology Act – some key pointers Recently, the Government of India (GoI) announced a rationalization in the tax rates applicable under the Goods and Services Tax (GST) regime. Consequently, industry players have been grappling with the modalities to ensure that rate reductions are passed on to consumers as per government…

• Perspectives on Limited Liability Partnership Disputes

  

  Perspectives on Limited Liability Partnership Disputes – Key considerations for LLP disputes in India While LLPs remain the preferred structure for closely held family run businesses, professional services and consulting firms, the jurisprudence around LLP disputes remains uncrystallised. Unlike companies, where the governance and management structure are statutorily legislated, the LLP Act, 2008 (the “LLP…

• Allotment Of Industrial Lands in Odisha – Key Considerations

  

  Allotment Of Industrial Lands in Odisha – Key Considerations Odisha has emerged as a major Indian industrial investment destination in the recent years – particularly, for manufacturing and heavy industrials sector. Between 2018-2023, Odisha’s industrial sector grew at 8.3%, compared to the national average of 4.7%1, fuelled by State Government’s push for ease of doing…

• Transfer Of Industrial Lands In Odisha And Other Post Allotment Actions – Key Considerations

  

  Transfer Of Industrial Lands In Odisha And Other Post Allotment Actions – Key Considerations Mergers and acquisitions in manufacturing, heavy-industrial sectors and real estate typically involve transfer of land as a vital asset. The Odisha Industrial Infrastructure Development Corporation (“IDCO”), the nodal authority for administration of industrial land in Odisha, grants lands on leasehold basis…

• Fraud Reporting By Statutory Auditors – Effective Tool For Activist Shareholders

  

  Fraud Reporting By Statutory Auditors – Effective Tool For Activist Shareholders The obligation of statutory auditors to report fraud under Indian Company law has been traditionally perceived as a governance safeguard to protect minority shareholder interests. Aggrieved shareholders can engage with statutory auditors by providing relevant information, and if auditors assess and consequently report ‘fraud’…