Gowree Gokhale

🤭BREACH OF SEBI TAKEOVER CODE? : “CHANGE IN CONTROL”: NO- ACCORDING TO LISTED CO , BUT THE MD RESIGNS CITING CHANGE IN CONTROL AS THE REASON !! 1.   ISSUE OF CONVERTIBLE WARRANTS TO NON- PROMOTERS ON PREFERENTIAL BASIS : CURRENT PROMOTERS’ HOLDINGS SHALL DROP DOWN TO 2.52% ( FROM the CURRENT 8.29%) BUT “There shall be NO CHANGE IN THE MANAGEMENT OR CONTROL OF THE COMPANY pursuant to the aforesaid issue and allotment of the Equity Shares. according to the company : ( proposed allottees -NON- PROMOTER CATEGORY -together shall hold 69.84%- DOES IT MEAN THEY ARE NOT ACTING IN CONCERT/ NOT FROM SAME PROMOTER GROUP) . 2.   THE SAME EGM NOTICE CONTAINS THE SUBJECT OF APPOINTMENT OF ONE OF THE ALLOTTEES -WHO WOULD HOLD 18.51% SHAREHOLDING in the COMPANY  -AS THE NEW MANAGING Director !!!!🤓 3 .HOWEVER, AS PER THE RESIGNING MANAGING DIRECTOR, CHANGE IN CONTROL OF THE CO, IS THE REASON FOR HIS RESIGNATION : ( Resignation by another NED also for the same reason) “I am thankful to the Directors and Shareholders of the Company for selecting me on the Board as a Managing Director. I was extremely happy to work as a Managing Director of the Company and extended all my support for benefit of the Company. DUE to other professional commitments and CHANGE IN CONTROL OF THE COMPANY, I AM NOT IN A POSITION TO DEVOTE MY TIME TO THE AFFAIRS OF THE COMPANY. ACCORDINGLY, I AM SUBMITTING MY RESIGNATION AS A MANAGING DIRECTOR OF THE COMPANY WITH IMMEDIATE EFFECT.” INTERESTING QUESTION FOR SEs &SEBI!!! (SOURCE: SE NOTIFICATIONS DT 25 10 2024 & 26 10 2024 OF Darjeeling Ropeway Ltd ) oct 26 12.37 hrs

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Our Senior Partner, Sumit Ghoshal, Partners, Aman Gera and Shagun Badhwar, and Associate, Somya Pant, write on the order passed by the Supreme Court of India in the matter of Indian Medical Association & Anr. v. Union of India & Ors. (Writ Petition (Civil) No. 645 / 2022) ("Order") which has caused a massive stir in the recent past and has far reaching implications for the entire advertising ecosystem. The Order, amongst other things, deals with the issue of misleading advertisements and responsibility of advertisers, advertising agencies and endorsers. In their article "Self-Declaration for Advertisements – Genuine Safeguard or Cosmetic Compliance?", our authors have provided insights into the directions passed in the Order vis-à-vis the mandate of self-declaration for advertisements, corresponding impact on the relevant stakeholders and its usefulness in combating misleading advertisements.   Please click on the following link to read the article: https://lnkd.in/dr_tJCBE   #advertising #selfdeclaration #misleadingadvertisements AZB & Partners

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Bombay High Court - Division Bench important judgment - Important judgment on the failure of basic process in adjudicating the dispute, manner of drawing conjectural and arbitrary conclusions amounting to patent illegality by the Ld. Arbitrator against the basic notions of justice and the fundamental policy of Indian Law. #bombayhighcourt #arbitration #arbitralaward #patentillegality #legaldeli https://lnkd.in/dhEM8TJs

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Evecare Trademark: Himalaya’s Prior Use Prevails Over Wipro’s Class Differentiation The Delhi High Court dismissed Wipro’s appeal, upholding an interim injunction favoring Himalaya Wellness in the 'Evecare' trademark dispute. The court found that Wipro’s use of the identical mark for its female hygiene product created a likelihood of confusion with Himalaya’s Ayurvedic uterine tonic, which had been in use since 1997. The decision emphasized the precedence of prior use over trademark registration in cases of passing off. #CaseReviews #IntellectualProperty #Trademarks #ayurvedicproducts #DelhiHighCourt #Evecaretrademark #HimalayaWellness #Passingoff #TrademarkDispute #trademarklaw #Wiprotrademarkcase

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**Telescope: Debrief on Trends** **Supreme Court of India Flags Concerns Over Inefficiencies in Arbitral Proceedings** In the landmark case of Bombay Slum Redevelopment Corporation Private Limited v. Samir Narain Bhojwani, the Supreme Court of India, led by Justices Abhay S Oka and Pankaj Mithal, highlighted significant issues within Indian arbitration. The Court expressed serious concerns over the bulky pleadings, lengthy evidence, and time-consuming submissions that have become synonymous with arbitration cases. These inefficiencies lead to protracted and costly legal processes, contradicting the purpose of arbitration as a tool for expeditious, effective, and cost-efficient dispute resolution. The Bench noted the excessive reliance on numerous precedents, relevant or irrelevant, which results in lengthy awards and extensive hearings under Sections 34 and 37 of the Arbitration and Conciliation Act. They urged all stakeholders, including the Bar, to practice restraint and focus on brevity to make the arbitral procedure more efficient and fairer. The Supreme Court's observations came while disposing of appeals against a July 2023 order from the Bombay High Court. The appeals were partially allowed, and the matter was remanded to the Division Bench of the High Court for a decision on merits.  #Arbitration #SupremeCourt #LegalUpdates #DisputeResolution #LegalEfficiency #India 

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Honourable Supreme Court of India has held that the onus of proving that the person falls within definition of Consumer or Commercial relationship the carve out must necessarily rest on the service provider and not the complainant. This is in sync with the general principle embodied in Section 101 and 102 of the Evidence Act that ‘one who pleads must prove’. Since it is always the service provider who pleads that the service was obtained for a commercial purpose, the onus of proving the same would have to be borne by it. Further, it cannot be forgotten that the Consumer Protection Act is a consumer-friendly and beneficial legislation intended to address grievances of consumers. The standard of proof has to be measured against a ‘preponderance of probabilities’. It is held that the test to determine whether service obtained qualified as a commercial purpose must be discharged by the service provider. Abhijit Mishra #supremecourt #highcourt #law #legal #lawyer #commerce #business #consumer #India

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Insights Success magazine gladly features LEGAL IntelliZence led by Adv. Abhinav S. Raghuvanshi, AOR Supreme Court of India, is a steadfast commitment to understanding each client’s unique needs, ensuring personalized attention and tailored strategies that ensure success and foster strong, lasting relationships. Read More: https://shorturl.at/o2Wvf #AbhinavRaghuvanshi #LawyersOfIndia #IndianLawProfessionals #LegalExcellence #DynamicLawFirms #LawFirmLeaders #LegalInnovation #TopBusinessMagazine #BusinesseMagazine #IndianEntrepreneursSuccessStories

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**Delhi High Court Extends Arbitral Tribunal's Mandate in Glowsun Powergen Case** In a recent ruling, the Delhi High Court extended the mandate of an Arbitral Tribunal by one year in the case of Glowsun Powergen Private Limited vs Hammond Power Solutions Private Limited, even after its expiration. This decision reinforces the court's authority under Section 29A of the Arbitration and Conciliation Act, 1996, to grant such extensions when there is "sufficient cause." In this instance, the court recognised the considerable time and resources already invested in the arbitration proceedings as a justifiable reason for the extension. This judgment sets a notable precedent, emphasising the court's flexibility and discretion in balancing procedural adherence with practical considerations to ensure arbitration remains an effective dispute resolution mechanism in India. It underscores the judiciary's commitment to facilitating fair and efficient arbitration processes while upholding the interests of all parties involved. Read this article by Aditya Ojha & Kripal Ghosh: https://lnkd.in/gJTFR4EX #Arbitration #DisputeResolution #DelhiHighCourt #Law #Legal

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DELHI HIGH COURT HOLDS SETTLEMENT AGREEMENT INCONCLUSIVE AS PARTIES EXCHANGED SUBSEQUENT CORRESPONDENCES REGARDING CONTRACTUAL DISPUTES INTRODUCTION A Single Judge Bench of the Hon’ble Delhi High Court comprising of Hon’ble Justice Neena Bansal Krishna in the case of GAE Projects (P) Ltd. v. GE T&D India Ltd. (in two matters ARB. A. (COMM) NO.38/2019, I.A. 17 854-17855/2019; ARB. A. (COMM.) 39/2019, I.A. 17857-17858/2019), vide judgment dated 15.07.2024, observed that if a settlement agreement visualizes works to be completed in the future under a particular contract and subsequent correspondences are exchanged between the parties about future work and payments etc arising out of such contract, it would imply that such settlement agreement is not final and that it has not conclusively resolved the disputes between the Parties. Read more: https://lnkd.in/gAzVe9T9 #dispute #commercial #arbitration #contract

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On August 2, The National Company Law Appellate Tribunal, Chennai Bench invoked Rule 11 which confers inherent powers to National Company Law Tribunal Rules, 2016 for the purpose of exploring a settlement while setting aside the order of NCLT, Bengaluru Bench. Our Senior Associate, Rohan Taneja shares his comments with The Economic Times in an article titled, "IBC is used as a forum for recovery of monies under the threat of possible insolvency, say Legal Experts." Read more at : https://lnkd.in/gudHkwFw #knowledgesharing #opinion #disputeresolution #insolvency #lawfirm #kredjure

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In the recent edition, Unveiling Legal Excellence: Profiles of Dynamic Law Firms, Insights Success magazine gladly features LEGAL IntelliZence led by Adv. Abhinav S. Raghuvanshi AOR Supreme Court of India, and other eminent law firms. Read More: https://shorturl.at/vbFbM #InsightsSuccess #LegalExcellence #DynamicLawFirms #LawFirmLeaders #LegalInnovation #TrailblazingLawyers #AbhinavRaghuvanshi #TopBusinessMagazine #BusinesseMagazine #IndianEntrepreneursSuccessStories

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𝐔𝐧𝐢𝐨𝐧 𝐁𝐮𝐝𝐠𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 Firm's Corporate Practice Partner, Ramya Suresh shares her thoughts on the Budget 2024. #unionbudget2024 #budgetanalysis #digitalindia #technology #technologylaw #tmt #AI #artificalintelligence #easeofdoingbusiness #sarafandpartners #lawyers #expertopinion #industryexperts #FinancialBudget #taxlaw #spacetech #venturecapital #fund #startups #fullservicelawfirm #indianlawyer #indianbudget #budget2024

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𝐔𝐧𝐢𝐨𝐧 𝐁𝐮𝐝𝐠𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 Firm's Corporate Practice Partner, Ramya Suresh shares her thoughts on the Budget 2024. #unionbudget2024 #budgetanalysis #digitalindia #technology #technologylaw #tmt #AI #artificalintelligence #easeofdoingbusiness #sarafandpartners #lawyers #expertopinion #industryexperts #FinancialBudget #taxlaw #MSME #fullservicelawfirm #indianlawyer #indianbudget #budget2024

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On DHC's recent interim injunction in a lawsuit concerning trade secrets, Prashant Reddy briefly touches upon the essential factors required to protect trade secrets in India. He then explains how the Court’s order goes overboard by not only disregarding these factors but also granting vaguely worded and overly broad reliefs to the plaintiff. Read on below for his post. #TradeSecret #ConfidentialInformation #InterimInjunction #DelhiHighCourt #SpicyIP https://lnkd.in/gjSZciFs

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Procedural orders directing consolidation of related petitions not appealable under Section 421 of Companies Act: NCLAT Reproted by Ritu Singh Read More Here- https://lnkd.in/gezmdZYx #NationalCompanyLawAppellateTribunal #CompaniesAct #consolidationofpetitions #NCLAT #NCLT #Proceduralorders #Section421CompaniesAct #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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IndusLaw Expands Banking & Finance Practice with New Partner Nitika Jain in Mumbai Office Read more: https://lnkd.in/ePb5x3cD #thecourtroom #banking #finance #partnersmovement #induslaw

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Call for Papers | Indian Journal of Arbitration Law, Vol 13 Issue 1 Read More Here- https://lnkd.in/eH6DtvSD #IJAL #InstitutionalArbitration #AlternativeDisputeResolution #internationalcommercialarbitration #MultilateralArbitrationConventions #submissionguidelines #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

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