We are happy to present the second issue of our e-magazine – Trilegal Quarterly Roundup.
If you would like to navigate to the magazine directly, click here. If you would like to read a brief summary of what this issue features, please continue reading below and use the hyperlinks provided to access individual features.
INSIGHTS
- Equity Linked Instruments 2.0Equity linked instruments are regaining popularity as a way for companies to attract and retain talent. Buybacks and IPO frenzy over the last one year has fueled employee interest in these instruments. With companies deploying different strategies to make such instruments lucrative, employees are now perceiving these as a wealth maximising asset.
- The Distressed Assets Sector: Poised for GrowthThe Indian distressed assets sector has seen sustained interest from investors due to several legal developments over the past few years. While the outcomes so far have been a mixed bag, a flexible approach and consistent regulatory focus on resolving distressed assets promises to unleash the potential in the sector.
- Indian Commercial Space Sector and The Path AheadThe Indian government is set to bring in long overdue reforms in the commercial space sector aimed at encouraging foreign investment, private participation and technology transfers while simultaneously aligning Indian policies with international norms.
TUNE IN
Our partner, Atul Gupta in conversation with Rajeev Chopra, Managing Director – Legal, Accenture, discuss the future of the workspace, the need for a comprehensive legislation for remote working and the challenges of navigating vaccine mandates and return to office policies amidst new waves and variants of Covid-19.
To watch this video, click here.
QUARTERLY MILESTONES
- CorporateWith the onset of the third wave of the pandemic, the preceding quarter saw only a few notable regulatory developments including permission granted to FPIs to invest in debt securities of InVITs and REITs, introduction of special situation funds by SEBI and Legal Entity Identifier becoming mandatory for resident entities.
- Dispute ResolutionWith courts resuming a degree of normalcy in the last quarter of 2021, the Supreme Court of India delivered some important insolvency judgments. It also pronounced an interesting decision on raising new grounds to set aside an arbitral award at the appellate stage, which could impact proceedings challenging arbitral awards under the Arbitration Act, 1996.
- Technology Media and TelecommunicationsThe past quarter witnessed several regulatory and legislative developments in the data privacy, fintech and cryptocurrency space. Given that many of these developments are in the public consultation phase, it will be interesting to see how these draft policies evolve over time.
- Labour and EmploymentThe previous quarter witnessed numerous developments in employment and labour laws with the Supreme Court opining on prevention of sexual harassment and service conditions at workplace, various States finalising rules under the Labour Codes and measures geared to deal with the Omicron variant of Covid-19.
- Banking and FinanceIn the last quarter, the RBI continued its reformative approach and introduced several regulatory changes. It tightened the norms for debt profiling by lending institutions. It also introduced procedural changes necessary to align with the discontinuance of LIBOR. On the judicial front, several interesting decisions under the IBC were pronounced.
- Financial Regulatory RegimeThe previous quarter witnessed some important legal and regulatory developments in the financial services space with the RBI issuing the Digital Lending Report, which sets the background for how digital lending and the increasingly popular ‘buy now, pay later’ model may come to be regulated in India. SEBI and the Stock Exchanges also took steps towards streamlining the regulatory framework around settlement procedures and businesses that a stock broking entity may undertake.
- Energy and InfrastructureThe past quarter witnessed several regulatory and legislative developments in the energy and infrastructure space such as the introduction of the Punjab Renewable Energy Security, Reform, Termination and Redetermination of Power Tariff Bill, 2021 and issue of the Ministry of Power’s rules regarding must-run status of renewable power plants and change in law provisions.
- White Collar Crimes InvestigationsThe last quarter saw several sanctions imposed by multilateral development banks against corrupt and fraudulent activities by companies. Domestically, High Courts rendered important judgments on the classification of accounts as ‘fraud account’ by lenders post forensic audits, and on the jurisdiction of the Enforcement Directorate over money-laundering offences committed by a company undergoing insolvency proceedings.
- Direct TaxThe Indian income tax framework saw some interesting developments such as the introduction of a new faceless appeal scheme, notification of rules for withdrawal of retrospective applicability of indirect transfer tax provisions and announcement of an agreement between India and US on certain contested tax issues.
- Indirect TaxThe previous quarter saw interesting developments in indirect tax, specifically under the GST regime. We discuss some of the key developments that businesses should watch out for.
QUOTE UNQUOTE
Industry experts, business leaders and senior legal professionals share their thoughts on ‘Expectations from the Indian Budget 2022’. To read this section, click here.
Read this Issue
