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satvikvarma

satvikvarma has written 94 posts for Satvik Varma

Fly High; But Lie Low

The Director General of Civil Aviation (“DGCA”), India’s aviation watchdog, recently issued a Civil Aviation Requirement (“CAR”) regarding handling of unruly/disruptive passengers. Issued under the Aircraft Rules, 1937 and framed in pursuance of the Indian Aircraft Act, 1934, the CAR acknowledges that unruly behavior of any sort, on board an aircraft or during embarkation/disembarkation, interferes … Continue reading

BUILDING BLOCK FOR A REAL ESTATE REGULATOR

Starting 1st May 2017, the much awaited Real Estate (Regulation & Development) Act (the “Act”) comes into effect. The ministry of Housing & Urban Poverty Alleviation recently notified 69 out of the total 92 sections of the Act and this set the ball rolling for States to formulate, within a maximum of 6 months, rules … Continue reading

My Lord: Not Above The Law

The Supreme Court of India has witnessed two unprecedented events in quick succession. Both relate to the contempt of Court and both concern Judges. In the first, a notice of contempt was issued to a former Judge of the Supreme Court for criticising a judgment of the Court. While issuing notice, the Court noted that … Continue reading

Institutional Investors – Watchdog to Corporate Boards

So far, one of the most positive developments of the Tata-Mistry corporate tussle has been the focus it has drawn on the state of corporate governance in India. The role, powers, functions, duties, obligations and responsibilities of Board of Directors across large and small, public and unlisted companies is now actively being discussed. What is … Continue reading

The Mystery Behind Tata Trusts

Amongst the many shortfalls in corporate governance within the Tata group that Cyrus Mistry’s legal team is sure to highlight, their principal area of attack is likely to be on the Tata Trusts. Sir Dorabji Tata Trust, Sir Ratan Tata Trust and other allied trusts (collectively “Tata Trusts”) are “amongst India’s oldest, non-sectarian philanthropic organisations.” … Continue reading