The term beneficial owner wasn’t defined under the Press Note 3 of 2020, and the FEMA (Non-debt Instruments) Rules, 2019. Hence, there existed a dichotomy in the industry, as to the ownership thresh...
Published On: 26/03/2020
Authors:
Jaidrath Zaveri
Suneeth Katarki
Akhoury Winnie Shekhar
Rahul Tiwari
With the growing uncertainty around the COVID-19 situation, parties have begun to evaluate what customarily gets built into transaction documents as a clause relating to material adverse effect or material adverse change ('MAE/MAC'). INDUSLAW's Suneeth Katarki, Winnie Shekhar, Rahul Tiwari and Jaidrath Zaveri examine how the COVID-19 situation might bring the MAE/MAC clauses in transaction documents to the forefront of discussion.
