In recent times, the domestic legal circles have witnessed a churn when it comes to executives working in law firms and corporates. Sapan Gupta was elevated to the post of Global General Counsel at Lakshmi Mittal & L& L Partner Damini Bhalla is headed to IPO bound food delivery unicorn Zomato as General Counsel.
Pratibha Jain, Partner of Nishith Desai Associates said when Justice AP Shah recommendations are made public, there won't be any difficulty in reading what he sought and what the government accepted.
The removal of director is the prerogative of the shareholders, while the board can uninamously remove a chairman, explains Pratibha Jain, Partner at Nishith Desai Associates.
Pratibha Jain, Partner at Nishith Desai Associates believes that a balance is required between overregulation and allowing the market to grow. A guarantor‘s role is to guarantee, he cannot be the first call for debt payment, she adds.
According to Jain, CERC's authority had already been upheld by APTEL and the Supreme Court.
Burdened by substantial debt reliance communications has for some time now wanted to unlock value in its undersea cable business – flag telecom.