Securities and Exchange Board of India (SEBI)

PIL challenging UK Sinha’s SEBI appointment to be re-filed, exclude finance minister says SC [Mint]

BCI denied affiliation to 21 colleges in 2010-11, only one in previous year and eight in 2008-9, says Kursheed [PIB]

Bombay HC rules for clothes seller against BMC in request for licence to sell pre-cooked food [DNA]

Mining suspended by SC in two more K’tka districts [Hindu]

NUJS Kolkata submits comments on draft national competition policy [Draft]

“Young members of the Bar will be encouraged provided they are prepared to argue their case”: B’lore HC motivational posters catch RamJet’s eye [IBN]

Exclusive: M Dhruva & Partners and senior counsel Janak Dwarkadas won an interim order from the Securities Appellate Tribunal (SAT) in favour of Ackruti City, allowing Ackruti’s promoters to pledge their own shares after the Securities and Exchange Board of India (SEBI) on 2 December banned the promoters from dealing in their shares following allegations of price manipulation.

J Sagar Associates (JSA) has won a Bombay High Court order for its long-standing client MCX Stock Exchange, which ordered the Securities and Exchange Board of India (SEBI), which was represented by Mumbai law firm K Ashar & Co, to make a decision on whether to allow MCX to become a full-fledged stock exchange.

The question on the panelists’ minds this week on CNBC-TV18’s The Firm: will the Securities and Exchange Board of India (SEBI) signal their approval of budding stock exchange MCX-SX’s capital reduction scheme by approving the company’s application to run as a full-fledged stock exchange. Menaka Doshi sat down with Vivek Gupta, Partner at BMR Advisors and Kartik Ganapathy, partner at Indus Law for some answers.

Two far-reaching legal developments that will impact the transaction restructurings were published this month, following a Securities and Exchange Board of India (SEBI) circular amending clause 24 of the Equity Listing Agreement and a Delhi High Court decision imposing stamp duty on court approved schemes of amalgamation.

Option clauses in commercial agreements are useful, popular and flexible in commercial agreements. But are they enforceable under Indian law? The case is far from clear, argues Ankit Guha.

Option clauses are a very common feature in shareholder agreements, share subscription agreements and many other investment related agreements. With a put option the holder has the right to sell its securities to the other party, with a call option holder will have the right to buy the securities from the other party, often at an agreed price. These can be used to hedge risks or provide an uplift to a party if securities should rise in value.

However, the enforceability of these options under Indian law is not settled.