Corporate and Commercial

SILRES Energy raises investment from US-based Fenice Group and South Lake LLC

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SILRES Energy, a subsidiary of solar energy company SunEdison Infrastructure, raised USD 12.5 million from US-based Fenice Group and South Lake LLC, which will be followed by a restructuring exercise to separate the under construction C&I and rooftop solar business, and the EPC business into a newly formed joint venture. The Spice Route Legal team, …

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SEBI (Foreign Portfolio Investors) Regulations 2019

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Foreign Portfolio Investors (“FPI”) are now subject to a revised regulatory framework ( the “2019 Regulations”). These regulations were introduced with a primary aim of easing the registration process, liberalising the regulatory conditions, relaxing the compliance requirements and giving a boost to foreign investment in India. Registration as FPI SEBI (Foreign Portfolio Investors) Regulations 2014 …

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The Supremes’ On Director’s Liability & Corporate Criminality

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The Supreme Court recently, in Shiv Kumar Jatia v. State of NCT of Delhi  [1] addressed the question of whether a managing director of a company could be held liable for a crime purely on account of him being an executive director. Shiv Kumar Jatia v. State of NCT of DelhiBrief factsA guest’s fall from the …

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FDI Policy Update: FDI Reforms (August 2019)

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On August 28th, 2019 the union cabinet approved changes to the foreign direct investment (“FDI”) policy in four sectors (“Approved Proposal”). The purpose of these changes is to make India a more favourable destination for global investors. Coal Mining Sector The automatic route under the existing FDI policy for mining coal was restricted to captive …

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Competition Law and Abuse of Dominance

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The Competition Commission of India (“CCI”) has been repeatedly called upon to adjudicate on disputes involving allegations of abuse of dominance. Some of these decisions highlight a significant departure from global trends and to that extent ought to be of interest to corporates. Abuse of DominanceSection 4 of the Competition Act, 2002 (“Competition Act”) deals …

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Spice Route Legal advised Helix Investments in its USD7.5 million investment in Dentzz Dental Care

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Helix Investments, an investment fund backed by Culbro LLC and Bloomingdale Properties, invested USD 7.5 million in Mumbai-based Dentzz Dental Care. Dentzz is a super-specialised dental care brand with clinics in Mumbai and Dubai. Praveen Raju, Renuka Abraham and Swarna Jain advised on the deal. Media reports of this deal can be found here:https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/helix-invests-rs-50-crore-in-dentzz/articleshow/71195220.cms?from=mdrhttps://www.vccircle.com/private-equity-firm-helix-invests-in-dental-clinic-chain-dentzz/