India has set itself a hefty target of achieving 500GW of Renewable Energy by the year 2030 which results the energy-mix to comprise of 50% from renewable sources
Given the intermittent nature of Renewable Energy, efficient and dependable ener- gy storage systems is the need of the hour…
Strong minority unitholder protections introduced – for both public and private InvITs
Private InvITs originally designed to attract large institutional capital – light touch re- gulations allowed flexibility to parties to manage their arrangements…
Infrastructure companies are mandated to execute concessions through SPVs, which often results in qualification of the holding company as a core investment company (CIC)
CIC risk is often avoided by structuring EPC and O&M revenues through the hol- ding company and swelling …
Latest SC judgement uncovers Daiichi’s new approach – Fortis, IHH and, public shareholders under the gun for liabilities of Fortis’ erstwhile promoters
Public shareholders will need to brace for impact and be proactive – else risk getting the short end of the stick
Legal sanctity of the ‘theory of attribution’ possibly misplaced in the Fortis context…
No express framework exists for nominee directors to share UPSI with nominating shareholders
Natural expectation that nominee directors should represent their nominators’ interests – not permitted under law
Since nominee directors’ fiduciary duty remains towards the company and stakeholders, nominee directors are paradoxically placed and exposed to significant…
Tax authorities recharacterized interest income on NCDs as dividends
Interest recharacterization has not taken place under GAAR
Investors can prevent such mischaracterization by demonstrating the nature of the underlying instrument, periodicity of payments, maturity date, management rights, etc….
