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    Cross Border Mergers in India in the IBC Era: A Legal Inquiry
    (University of North Bengal, 2020-09) Tiwari, Avin
    The Insolvency and Bankruptcy Code, 2016 (IBC), since its enactment, has been a subject matter of intense deliberation, both in the trade as well as the legal fraternity. Strong opinions are polarised between those who consider it a necessary step and those who classify it as a ‘draconian legislation'. In 2018, certain provisions of the IBC were amended which introduced sweeping changes in both the substantive as well as the procedural aspects relating to the insolvency process. The Indian economy grew unprecedentedly while most economies were suffering from economic depression. This growth is attributed to the inflow of FDI into India by way of cross-border mergers & acquisitions. IBC is expected to play a significant role in establishing a solid legal platform where cross border mergers & acquisitions in India can flourish in mutual coexistence with all other laws leading to wholesome economic development. Currently, the legal framework for cross border insolvency in India concerning foreign proceedings, the participation of foreign investors, recognition of foreign courts, and uniformity in relief provided etc. is unclear and at a nascent stage. This creates many legal hassles and confusion in the finalisation of cross border merger deals and makes the business climate uncertain. The authors attempt in earnest, to critically analyse the legal framework with respect to IBC and study the complexities of cross-border insolvency in the Indian context, and set out the broad principles of the UNCITRAL Model Law and determine the relevance of Gibbs rule in the insolvency resolution process to assess on a macroeconomic level, the impact of IBC on cross border mergers and acquisitions in India.
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    FDI in Multi Brand Retail: Cost Benefit Analysis
    (University of North Bengal, 2013-03) Mitra, Debabrata; Ghosh, Amlan
    The decision of the UPA Government to allow FDI in multi-brand retail is a highly controversial issue though the government has opened the retail sector to FDI in cash and carry with 100 percent ownership and 51 percent investment in single brand category. There are various issues that need to be addressed by the policy makers while allowing FDI in multi-brand retail. It can hardly be denied that entry of big giants in the retail sector may adversely affect a large section of population employed in the unorganized retail. Proper regulatory measures should be imposed to protect the vulnerable sections of the society.
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    Long-run effects of FDI in India’s multi-brand retail trade: Lessons from cross-country economic history
    (University of North Bengal, 2013-03) Pradhan, Nandita; Ray, Indrajit
    In view of the recent debate on the entry of FDI in India’s multi-brand trade, this article seeks to analyse the long-run effects of this policy-options on the formation of industrial capital and entrepreneurs. To do so, we look into the economic history of two of the presently developed countries, the United Kingdom in Europe and Japan in Asia. Their historical sequences suggest that the industrialisation process in an economy should obtain capital and entrepreneurs from the agricultural and tertiary sectors, and that a congenial policy-environment is imperative to these ends. Also, we deal with the economic history of India during the early colonial period, and learn that, owing to hostile governance, the period witnessed a reverse flow of those critical factors of production from industries and trade to agriculture. This article, therefore, concludes that FDI in multi-brand trade, which is expected to hard-hit tiny and small traders in the long run, may jeopardise India’s prospect of domestic capital formation and entrepreneurs for industries. This will be very harmful for our future course of industrialisation.