The NLIU Trilegal Summit has opened its gates to the participants. The Organising Committee is all decked up and ready to host them. Commotion abounds in the corridors of the Auditorium as the teams arrive for the registration, and collect their respective folders, meticulously prepared by the registration team. The halls of National Law Institute University’s Auditorium have begun to reverberate with excitement and anticipation as the participants line up to register. A day packed with learning and socializing awaits them.<\/p>\n
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5:00 pm, 8th April 2023- Session on “Gearing up for Global Competition: Entry for Foreign Law Firms in India”<\/em><\/strong><\/span><\/p>\n The summit started with an inaugural session on the topic “Gearing up for Global Competition: Entry for Foreign Law Firms in India”. Dr V. Vijaykumar, the honourable Vice Chancellor of the National Law Institute University welcomed the guests, Mr Ramakant Rai (Partner, Trilegal), Mr Prantap Karla (General Counsel- Nissan Motor Corporation), Mr Yogesh Singh (Partner, Trilegal) and Mr Shankh Sengupta (Partner, Trilegal), he highlighted the importance of such collaborations wherein the practitioners interact with the law students and make them familiar with the practical realities of the legal world.<\/p>\n This was followed by the speakers conveying their views on the recent notification which allows foreign law firms to set up their offices in India. Mr Prantap Karla highlighted the new opportunities that the said move opens up for Indian students, whereas Mr Yogesh expressed his views on certain potential difficulties that might arise for the Indian firms and practitioners considering the upper hand that the foreign firms possess in terms of access to technology and a \u201cstructured training\u201d. Mr Shankh provided a thorough analysis of the recent notification wherein he highlighted the ambiguities therein, he provided an interpretation of the \u201chome country\u201d clause in the said notification.<\/p>\n Subsequently, the stage was opened for the participants. The students and the participants asked questions ranging from the future of Indian law firms with the incoming competition to the rising opportunities for the students who will join the market soon. One of the questions involved a participant inquiring about the potential effect of the said recent development on Indian law firms and the potential strategies that the firm should undertake in light of the same. To this, Mr Yogesh replied by explaining how this development should be viewed as more of an opportunity than as a challenge, wherein, Indian practitioners can upgrade themselves to meet the global levels.<\/p>\n This brought the session to the end and the participants and the guests proceeded to the guesthouse for \u201chigh tea\u201d. Everyone is geared up for the coming paper presentations tomorrow.<\/p>\n <\/p>\n <\/p>\n 9:30 am, 9th April 2023- Inaugural Ceremony<\/strong><\/span><\/p>\n The most awaited moment is here! The inaugural ceremony for the 8th<\/sup> NLIU Trilegal Summit has been kickstarted by lighting the lamp by our guests and honourable Vice-Chancellor. The chief guest for the day, Dr Alok Srivastava (Member NCLAT) and the guest of honour, Mr Rajesh Sharma (Former Member, NCLT) graced the ceremony with their presence. The event is happening offline after a considerable amount of time, which is a much better experience than the one we had on our 13-inch screens for the last two editions, owing to the COVID-19 pandemic. The Convenor of the Centre for Business and Commercial Laws, Ms Shreya Chandhok thanked the guests as well as the participants for joining on the occasion of the summit, this was followed by Dr Ghayur Alam\u2019s (Chairperson, CBCL) address wherein he acknowledged the presence of the guests and participants. Subsequently, the VC congratulated everyone on the occasion and officially declared the summit \u201copen\u201d.<\/p>\n Eventually, the “summit book”, consisting of the selected manuscripts, published by EBC Publications, was released, and the judges left for panelist briefing.<\/p>\n <\/p>\n <\/p>\n 11:00 am, 9th<\/sup> April 2023- Session A- Presentations<\/u><\/strong><\/p>\n The paper presentations would be divided into three sessions. In the first session, 5 papers would be presented in front of the panel consisting of Dr Alok Srivastava (Member NCLAT), Mr Rajesh Sharma (Former Member, NCLT), Mr Yogesh Singh (Partner, Trilegal), Dr Ghayur Alam (Dean- UG Studies, NLIU Bhopal), and Mr Amit Pratap Singh (Assistant Professor, NLIU Bhopal).<\/p>\n Paper 1- \u201cProtection of Minority Shareholders: A Careless Concern\u201d<\/em> by Dhruv Kohli and Sanya Singh<\/u><\/strong><\/p>\n The presenter analysed the recent proposal of SEBI consisting of protective measures to protect the interests of minority shareholders, specifically in times of insolvency proceedings. The presenter highlighted industrial practices as well as legal examples which highlight the requirement of such a step, however, certain limitations in the implementation of the said proposal were also pointed out. The presenter concluded by stating that it must be ensured that the fundamentals of the Insolvency Code must be protected. This was followed by the panellists asking questions to the presenter, who addressed the queries one by one.<\/p>\n Paper 2- \u201cThe Conundrum of Sustainability Agreements in Competition Law: The Way Forward for India\u201d<\/em> by Shashank Mehrotra and Debayan Bhattacharya<\/u><\/strong><\/p>\n The presenter highlighted the problems that arise as a result of companies making effort to become \u201ceco-friendly\u201d, and the competitive concerns that consequently arise. A comparison to the European Competition Law was made, which provides for explicit exceptions to \u201csustainable agreements\u201d and it was concluded that similar provisions should be imputed in the Indian jurisdiction.<\/p>\n Paper 3- \u201cThe Quandary of Franklin Templeton India: A Fiasco that Shook the Money Market\u201d<\/em> by Dhairya Jain and Deesha Pathak<\/u><\/strong><\/p>\n The presenters, in the form of a \u201ccase study\u201d, analysed the recent Franklin Templeton mutual fund shutdown. The cause of such a shutdown was traced, its effect on the market was analysed and steps were suggested to prevent such incidents.<\/p>\n Paper 4- \u201cBetween Profit and Principles: Delineating \u2018Conflicting Interests\u2019 and \u2018Civil Conspiracies\u2019 in Private Equity, M&A Transactions\u201d<\/em> by Ashish Dash and Samarth Jain<\/u><\/strong><\/p>\n The presenters analysed private equity transactions, and the stringent regulations they are subjected to. A reference was made to the landmark case of Manti Holdings, LLC v. Carlyle Group, Inc, wherein the claims of a minority investor were allowed against a private equity firm. The presenters concluded on a note that a balance must be drawn between \u201cprofits\u201d and \u201cprinciples\u201d in such settings.<\/p>\n Paper 5- \u201cOpportunity to Public Equity Shareholders to Acquire Shares After CIRP – A Measure for Protection or an Instance of Myopia?\u201d<\/em> by Nency Shah and Devanshu Anada<\/u><\/strong><\/p>\n The presenters analysed the recent consultation paper released by SEBI wherein it proposed a framework for protecting the rights of public shareholders. A reference was made to the existing jurisprudence and in light of the same, a need for a new regulatory framework was highlighted.<\/p>\n <\/p>\n <\/p>\n 12:30 pm, 9th<\/sup> April 2023- Session B- Presentations<\/u><\/strong><\/p>\n Presenters and the panellists gathered again in the auditorium for the second session of presentations. In this session, 5 more papers would be presented in front of a panel. The panel members are Mr Rajesh Sharma (Former Member, NCLT), Mr Prantap Karla (General Counsel- Nissan Motor Corporation), Mr Yogesh Singh (Partner, Trilegal), Mr Shankh Sengupta (Partner, Trilegal), and Mr Amit Pratap Singh (Assistant Professor, NLIU Bhopal).<\/p>\n Paper 6- \u201cCastles on a Shaky Foundation: Analysing Dual Banking Regulation and Systemic Risk Through Indian Banking Law\u201d<\/em> by Anant Agarwal<\/u><\/strong><\/p>\n The presenter, in this paper, analysed the existing loopholes in the baking regulation provisions which lead to a differential treatment being provided to the private banks, as opposed to their public counterparts. Subsequently, the presenter contended that such a state of affairs can potentially lead to a banking crisis and consequently, proposed rectifying measures.<\/p>\n Paper 7- \u201cFractional Share Investing: A Critical Appraisal in India & Abroad\u201d <\/em>by Shree Vaishnavi Onteddu and Prantika Dutta<\/u><\/strong><\/p>\n The presenters explored the concept of fractional share investing in the Indian context, they did so in the light of the potential risks and benefits of the \u201cFSI\u201d. The current standing on the legal provision in the global paradigm was provided.<\/p>\n Paper 8- \u201cResolving the Quandary of Profit Motive in Insider Trading through \u201cPre-Deposits\u201d: A Law and Economics Approach\u201d <\/em>by Avanish Kar and Aaryan Dhasmana<\/u><\/strong><\/p>\n The presenters analysed the role of motive in the offence of insider trading, in light of the recent judgment of SEBI v. Abhijit Ranjan. An interdisciplinary analysis of the said judgment was presented using various theories of economics and psychology. Eventually, the presenters proposed a new model to improve the existing framework in order to protect the interest of the traders as well as the regulatory body.<\/p>\n Paper 9-\u201cThe Digital Sail of The Indian Rupee: Gauging Its Prospects to Reach the Other Side of The Shore\u201d by Intisar Aslam and Garima Kiran <\/u><\/strong><\/p>\n \u00a0The presenters critically discussed the Central Bank Digital Currency (CBDC) in light of the Digital Personal Data Protection Bill (DPDP). They highlighted the issues of individual breach of privacy with the introduction of digital currency.<\/p>\n Paper 10- \u201cMoney, Machines, and Morals: Legal Implications of the Rise of Robo-Advisors in the Fintech Landscape\u201d<\/em> by Harsh Bansal and Tanmay Durani<\/u><\/strong><\/p>\n The presenters started by explaining the meaning and operation of Robo-Advisors, subsequently, their incompatibility with the traditional investment model was highlighted. The presenters concluded by suggesting some for \u201cfitting in\u201d the automated advising regime within India\u2019s Traditional investment advisory framework.<\/p>\n 3:00 pm, 9th<\/sup> April 2023- Session C- Presentations<\/u><\/strong><\/p>\n Everyone gathered again after a lunch break. In the third and last session of presentation, the remaining 4 presentations are to be presented in front of the panel consisting of Mr Saji Kumar (Joint Secretary, Ministry of Law and Justice), Mr Prantap Kalra (General Counsel- Nissan Motor Corporation), Mr Shankh Sengupta (Partner, Trilegal), Dr Ghayur Alam (Dean UG Studies, NLIU Bhopal), and Ms Krati Rajoria (Associate Professor, NLIU Bhopal).<\/p>\n Paper 11- \u201cGreening the Financial Sector: A study of Green Bonds and its growing investments in India\u201d<\/em> by Zaina Najeeb<\/u><\/strong><\/p>\n The presenter, in her presentation, comprehensively analysed green bonds, in the context of their functions, limitations, and benefits. Subsequently, the presenter provided highlighted the prospects for green bonds in India and their potential role in supporting sustainable development.<\/p>\n Paper 12- \u201cDeciphering Indian & USA Securities Laws – A Future Roadmap to Regulate Fin-fluencers in India\u201d<\/em> by Akshat Sharma and Mayank Gandhi<\/u><\/strong><\/p>\n The presenters analysed the rise of social media influences in light of low financial literacy amongst the general public. They contended that there is a lack of regulatory framework in this context and consequently, proposed an imputation of provisions similar to that of the US securities law.<\/p>\n Paper 13- \u201cParachuting to Safety: Analysing the Indian Legal Framework on Golden Parachutes\u201d <\/em>by Mehak Jain<\/u><\/strong><\/p>\n The presenter analysed the rise of \u201cgolden parachute\u201d agreements in Merger and Acquisition agreements. She proposed measures to ensure the efficiency of such clauses while drawing a balance between shareholder interest and management\u2019s interest.<\/p>\n Paper 14- \u201cDemystifying the SAFE Note Framework in India\u201d<\/em> by Yuvraj Mathur and Hashvi<\/u><\/strong><\/p>\n The presenters highlighted the importance of raising investments and subsequently contend that such a procedure, at times, can be cumbersome. In this light, they proposed \u201ciSAFE Note\u201d as an alternative for investments, and proposed an amendment to the Indian Companies Act for incorporating the same.<\/p>\n <\/p>\n![\"\"](\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/WhatsApp-Image-2023-04-08-at-3.09.09-PM.jpeg\")
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