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Legacy > Blog (Page 7)
05 June
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Creating Funds For Infrastructure Projects: Govt’s NMP To Raise Capital Through Monetising Brownfield Assets

Posted by Mr. Gagan Anand
in Published Articles

To read this on Mondaq, click here The government of India on 23rd August 2021 launched the National Monetisation Pipeline ("NMP") in consultation with NITI Aayog and secretaries of infrastructure ministries keeping in mind the mandate for asset monetisation under the Union Budget 2021-22. This pipeline of assets that the government shall monetise with the help of core assets has the potential to generate capital of 6 lakh crores from Financial Year ("FY") 2022 to FY 2025. This serious decision about investment is to cater to infrastructure projects that are currently planned and to additionally create a firm foundation for future projects....

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05 June
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National Capital To Witness Change In Tenancy Laws: Centre To Repeal Delhi Rent Control Act And Enact New Act Based On Model Tenancy Act

Posted by Mr. Gagan Anand
in Published Articles

To read the article on Mondaq, click here “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”  – Franklin D Roosevelt The urbanized parts of India are an oasis to the deserted opportunities and lifestyle in the rest of the sub-tropical nation. Urban housing has always been demanding owing to the constant migration of rural populations to cities in hopes of jobs and better lifestyles. The rapid increase in the urban population has led to the inevitable...

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05 June
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Simplifying The Commercial Courts Act, 2015: II. Order XI: Disclosure Discovery And Inspection Of Documents In Suit Before The Commercial Division Of A High Court Or A Commercial Court

Posted by legacy
in Published Articles

To read the article on Mondaq, click here. The Order XI of Civil Procedure Code applicable to commercial disputes of specified value as introduced by the Commercial Courts Act, 2015 is different from the Order XI of Civil Procedure Code applicable to other Civil Disputes in material ways. This order has 7 rules divided into sub-rules and sub-sub-rules as opposed to 23 rules in the Order XI applicable to other civil suits. A brief, Rule-wise discussion is given .It is necessary to start the discussion by referring to the last Rule 7 of this Order. Under Rule 7: Certain provisions of the Code of...

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05 June
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Boosting Infrastructure – Budget 2022-23

Posted by legacy
in Published Articles

To read the Article on AsiaLaw, click here   It would be apt to term the Budget, 2022-23 presented by the Hon’ble Finance Minister as “Atmanirbhar Bharat- Revisited”. Notably, the “Budget 2022” has been welcomed warm heartedly by the Infrastructure Industry. It has been heartening to see that the Government has made an attempt to deliver a “nation-building Budget” which primarily focusses on “core infrastructure” which is important for economic growth. It is clear that emphasis has been specifically laid on the Infrastructure industry and to look for better and efficient ways of recovery from the COVID-19 Pandemic. Overall, the Budget 2022-23 appears to achieve...

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20 May
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Complex construction arbitrations and duty of care of arbitrators: Satluj v Jaiprakash Hyundai case analysis

Posted by Mr. Gagan Anand
in Published Articles

Disclaimer - This article was first published in Construction Law International on 20 December, 2023 and is reproduced by kind permission of the International Bar Association, London, UK. © International Bar Association. To read the article on IBA, click here. In the recent case of Satluj Jal Vidyut Nigam Ltd v Jaiprakash Hyundai Consortium & Ors[1] (hereinafter referred to as ‘Satluj v Jaiprakash’), the Hon’ble High Court of Delhi, while dealing with a challenge to an award passed in a construction-related dispute, observed that in the context of construction contracts, the amounts involved are usually astronomical. The judgment, passed on 12 July 2023, sought...

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20 May
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A Grim Tale Of Two Towers – Apex And Ceyane

Posted by legacy
in Published Articles

To read the article on Mondaq, click here On 28th February, 2022, the Supreme Court was informed how the demolition of two 40-storied towers, T-16 and T-17 namely Apex and Ceyane belonging to the Emerald Court Project of Supertech Builders would be carried out in phased manner with the use of specialized blasting procedure. During the demolition, the area would be declared a no-fly zone and would be completely evacuated. The demolition would be completed by May 22, 2022. Background of Dispute: The Emerald Court Owner Resident Welfare Association had approached the Allahabad High Court in 2012 alleging that the Developer was constructing...

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19 May
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Legacy Law Offices LLP acts on EMS Limited IPO

Posted by legacy
in Press Release

EMS Limited, earlier known as EMS Infracon Private Limited, a Delhi National Capital Region (NCR) based company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is making its first public offer to raise funds through an initial public offering (IPO) for a fresh issue of equity shares worth up to Rs. 180 crores ($ 21.9 million) and an offer-for-sale (OFS) of up to 82.94 lakh shares by the promoter of the company, Ramveer Singh. At present, Singh holds a 97.81 per cent stake in the company. The company, EMS Limited,...

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19 May
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High Court of Himachal Pradesh grants relief to Himani – Chamunda Ropeway Project Concessionaire

Posted by legacy
in Press Release

In a relief to the concessionaire company engaged to develop the Himani-Chamunda Ropeway project at Kangra district the Hon’ble High Court of Himachal Pradesh has granted relief to the company by way of issuing stay on encashment of the bank guarantee. The High Court in its order directed that the respondents including the concessioning authority for the project which is the state department of tourism and civil aviation are restrained from encashing the bank guarantee. Earlier, the department had issued notice of termination to Usha Breco Chamunda Devi Ropeway Private Limited citing default by the company. The company on its part...

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19 May
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Legacy Law Offices LLP acts as Legal Advisor for the IPO of Vibhor Steel Tubes Pvt. Ltd.

Posted by legacy
in Press Release

Legacy Law Offices LLP advised Vibhor Steel Tubes Pvt. Ltd. ("Vibhor Steel") and the promoter group selling shareholder in relation to its Initial Public Offering ("IPO") of equity shares aggregating to INR 720 million, the most successful IPO of the year 2024 and the 3rd most successful IPO in the Indian market till date, based on its phenomenal over-subscription by 299 times. The tremendous investor response to Vibhor Steel’s IPO is a symbol of confidence in the steel industry's robust future. Vibhor Steel is also diversifying into the Metal Crash barriers segment for National Highway projects. Legacy’s expert legal guidance was...

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19 May
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Lawyers of Legacy Law Offices LLP extend their pleasure in being the Legal Advisors to EMS Ltd for the Initial Public Offering (IPO) of the Company

Posted by legacy
in Press Release

EMS Ltd. is a leading Indian company, working in the sewerage sector since December 2010. Its business extends to providing sewerage solutions, water treatment and supply systems, electrical transmission and distribution systems and other allied works. The team of lawyers headed by Our Managing Partner, Mr Gagan Anand, and Co-Managing Partner, Ms Shalini Munjal with Mr Amarendra Gogoi, Partner, Ms Shikha Vohra, Associate Advocate, and Mr Nandish Munjal, Associate Advocate, are providing professional legal services to the company for the public issue of their equity shares to facilitate the public offering which is worth over INR 180 crores. According to the DRHP...

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