Policy Guidelines for Empanelment of Social Media Platform

INTRODUCTION The Ministry of Information and Broadcasting, Government of India (“MIB”), released a draft of social media advertisement policy guidelines titled ‘Policy Guidelines for Empanelment of Social Media Platforms with Bureau of Outreach and Communication’ on May 13, 2020 (“Policy Guidelines”). The Policy Guidelines will be valid for a period of 5 (five) years. The […]

MCA issues clarification on “Appointed Date” for Mergers

CIRCULAR The Ministry of Corporate Affairs (“MCA”) has, vide circular dated August 21, 2019 (“Circular”), issued a clarification on (i) whether it is mandatory to indicate a specific calendar date as “appointed date” in the schemes of mergers and amalgamations undertaken pursuant to Section 232(6) of the Companies Act, 2013 (“Act”); and (ii) whether such […]

Trade Unions – “operational creditors” under IBC, 2016

FACTS Proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 were pending against a permanently closed mill namely Juggilal Kamlapat Jute Mills Company Ltd. (“Jute Mills”). The trade union (“Union”) issued a demand notice on behalf of approximately 3000 workers under Section 8 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) for the […]