In India, domestic proxy advisers have been subject to the Securities and Exchange Board of India’s (SEBI) regulations since 2014. However, based on the foregoing incident, in November 2018, the SEBI constituted a committee to review the 2014 regulations applicable to proxy advisers and to recommend changes. The committee issued its report to the SEBI in May 2019, and on 3 August 2020, the SEBI released revised compliance guidelines for proxy advisers, which will take effect on 1 January 2021.
This update by Akil Hirani, Managing Partner at Majmudar & Partners explains whether force majeure applies against enforcement of bank guarantees based on the case of Halliburton Offshore Services Incorporated v. Vedanta Limited. The update has been published by the International Bar Association
The International Bar Association (IBA) has launched a comprehensive guidebook for doing business in the Asia-Pacific region. The guidebook contains expert inputs from M&P lawyers, Akil Hirani, Amrit Mehta, and Ravi S. Raghavan.
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