ABOUT THE FIRM

Angad Haksar & Associates Law Firm provides services for every legal problem. Apart from advocacy we also assist in policy making and business development programs and provide legal services to newly established startups and various MSMEs.

INTERNSHIP DESCRIPTION

Intern required at Jaipur Office:

  • Research PaperWork
  • Office Work
  • Session Court
  • Rajasthan High Court, Jaipur Bench
  • Supreme Court

APPLICATION PROCESS

Interested candidates can send their applications to angadhaksar@hotmail.com

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Lexpeeps Placement Cell established in 2021 operates with a vision to ensure maximum placement of students studying in different law schools across the country. The sole purpose of Lexpeeps Pvt. Ltd. is to provide law students and law schools quality and to create value for the legal fraternity.

About Fathom Legal

Fathom Legal is a boutique law firm which deals in mostly corporate affairs. It has a very relaxed work environment and that’s its USP. Most days are WFH except when one has to attend courts.

Job Description

  • Commercial Litigation
  • Advisory Solution to startups
  • Appearing in all the courts across Delhi NCR
  • Drafting various cases
  • Attending Client meetings

Number of openings

One

Salary

can be discussed at the time of interview

Mode

Physical

Joining

Immediate

How to Apply

CLICK TO APPLY VIA LEXPEEPS PLACEMENT CELL

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Write to us If you want us to Hire for you/ Get your students placed

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JOB DESCRIPTION

M/s. Manjunath & Associates, Advocates and Solicitors is looking to hire an advocate for the position of Associate.

  • Enrolled advocates either freshers or with PQE of 1/2 years may apply.
  • Location: Bengaluru
  • Remuneration: as per industry standards.

APPLICATION PROCESS

Interested candidates can send their applications to: manjunath.legal@gmail.com or advocatetanya7@gmail.com

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JOB DESCRIPTION

Law Chambers of Jai Anant Dehadrai is looking to immediately hire two Legal Associates. Their focus is on white-collar criminal matters (PMLA, SEBI etc.), commercial litigation, general arbitration and constitutional issues. The office is located in Neeti Bagh, New Delhi.

  • Responsibilities will include drafting, court appearances and filings.
  • Remuneration: Rs. 40, 000/- per month + expenses.
  • Experience: 1-2 years (preferably in litigation).
  • Timings: We work 6 days a week from 9 AM to 8 PM (typically Monday to Saturday).

APPLICATION PROCESS

Interested candidates can send their applications to Jai@Dehadrai.in and CC to Siddharth@Dehadrai.in before the 25th of September 2022. Preference will be given to candidates who are passionate about law, legal writing, pro bono advocacy and the art of litigation.

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Introduction

The advancement in the mode of communication has made human life very easy. Earlier the modes of communication available were very time-consuming and less efficient. In today’s world with the advancement of technology, communication has become very easy and a speedy process. The whole world is now turned into a small village considering the fact that the internet has made access to anyone and anything very simple. Social media is one such platform where people are connected. The term social media is related to computer-based technology facilitating the sharing of ideas, thoughts, and information through various virtual platforms. Social media is internet-based and provides users with the quick electronic communication of content, such as personal information, documents, videos, and photos. More than 4.5 billion people use social media, as of October 2021. Social media has paved the direction of how society thinks. It has become a platform for the dissemination of truth as well as lies. When everything is affected by the social media justice system and judges are no exception to it.

Independence of Judges

Judiciary being the 3rd organ of the government, it is important that it is independent of any influence from the other two organs of the government or people in general. The term is normative in a sense as it provides what courts and judges ought to possess. The independence of the judiciary is important to save the general public from any unjust treatment. The concept of independence of judges has come from England’s Act of Settlement. Independence of the judiciary is important in a country like India owing to the diversity of the population residing in India. Provisions in judiciary securing the independence of Judiciary:

  • Security of tenure. (Art.124(2))
  • Salary and allowances.
  • Power to punish for its contempt. (Art.129 in Supreme Court, Art.215 in High Court)
  • Separation of judiciary from the executive. (Article 50)
  • No practice after retirement.

With great powers of the judiciary comes great responsibilities upon the judges.  Indian Judiciary in the Chief Justices’ Conference, 1999 laid down several principles and these were accepted by all the High Courts.  Justice must not only be done but it must also be seen to be done. The working members of the higher judiciary must sustain and reaffirm the people’s faith in the impartiality of the judiciary. Keeping this in mind Judge of the Supreme Court or a High Court, in any capacity whether official or personal capacity, erodes the credibility of the Indian justice system has to be avoided. A Judge should not participate in the election to any office of a Club, society or other association; further, he shall hold elective office only in a society or association which is related to the law. Close association with those who practice in the same court shall be avoided. A Judge should not permit any member of his immediate family if a member of the Bar, to appear before him or even be associated in any manner with a cause to be dealt with by him.

No member of his family, who is a member of the Bar, shall share the same residence with him or use any other facilities provided to judge for professional work. A Judge shall avoid hearing and deciding a matter in which a member of his family, a close relation or a friend is concerned. A Judge shall be extra vigilant while entering into public debate or expressing his views in public on political matters or on matters that are pending or are likely to arise for judicial determination. He must avoid situations where he has to give interviews to the media. A Judge shall not accept gifts or hospitality from anyone other than his family, close relations and friends. A Judge should not engage directly or indirectly in trade or business (Publication of a legal or any activity in the nature of a hobby shall not be construed as trade or business).

A Judge must not engage himself in contributions or raising of any fund for any purpose. A Judge should not seek any extra financial benefit in the form of a privilege because of his office unless it is clearly available. Any doubt arising in this context must be resolved and clarified through the Chief Justice. Every Judge must always keep this thing in mind that they are always subjected to the public gaze owning to this fact they must act or omit in a manner that does not result in depreciating the reputation attached to the occupation. The Preamble of the Bangalore Principles of Judicial Conduct, 2002, laid down the principles that are intended to establish standards for the ethical conduct of judges. These guidelines put forward guidance to judges and regulate judicial conduct. The main aim of the principles is to assist members of the other two organs of the government along with the general public to support the judicial system in India.

Media Trials

Social media has become a platform that does not circulate facts but rather matters that can help them gain TRP. Protracted debates and discussions are held that are merely based on speculation, which hurts the rights of witnesses and the accused. The Freedom of speech and expression that is provided under the Article 19(1)(a) has been misused again and again. The criminal jurisprudence followed in India is based on the theory that any accused cannot be held guilty until his guilt is not proven in a court of law. Social media circulates views that may or may not be true about both the victims and the accused.  

The media does not consider the principle that governs trials in India which is “Guilty beyond reasonable doubt” and “Innocent until proven guilty”. It puts a burden on the trial courts which have the duty to minimize the effects of prejudicial publicity. Continuous remarks from such social media platforms can force judges to take decisions in the favour of the media rather than what is actually demanded in the case. Recently we saw in the Nupur Sharma case the bench comprising Justice Surya Kant and Justice Pardiwala during the hearing of the writ petition being filed made oral remarks which led to many personal attacks on the judges. Sometimes the general public fails to understand the questions asked in the courtroom are conscientiously for fulfilling the requirements of the law. Media can only circulate the words of the judges without knowing the contexts for the same which impacts the private lives of the judges.

Impact of social media

Judges are also normal citizens of the country and like any other citizen of a country they are also free to use social media but they must bear in mind that their active participation requires careful consideration. Judges must comply with the legal and ethical ramifications keeping in mind the nature of their profession. Positive aspect of social media is that it brings closeness, and openness in the society but at the same time any posts of judges are subjected to misrepresentation or misinterpretation of the content posted by them, or even led to cyberbullying and threats to privacy and safety. In 2011, the International Bar Association Legal Policy & Research Unit (IBA LPRU), conducted a global survey to consider the impact of Online Social Networking (OSN) on the legal profession.  

The survey conducted to measure the impact of OSN on the legal profession revealed that judge use of social media raised specific concerns, 40% responded that judges’ use of OSN negatively affected public confidence in the justice system and undermined judicial independence. People have access to the words said by judges by most of them lack the knowledge of the law and they fail to interpret the actual meaning behind the rationale given by judges. Support for judicial use of social media is made apparent by Union Law Minister Ravi Shankar Prasad.

He supports the idea of social media platforms involving in spreading of thoughts, views and knowledge. Judges must be given complete independence to give judgment as to what they decide keeping in mind the rule of law. Media -trials have become commonplace in India. Before a case is decided in a court of law people already have passed their judgment about the matter about which they have no idea. Judges must keep in mind how they are portraying themselves on social media. They must not give any comments regarding the case they are hearing in court. In 2014, IBA’s Legal Policy and Research Unit (LPRU) published its International Principles on Social Media Conduct for the Legal Profession. Pros and cons of the use of social media and guidance regarding judicial conduct and ethics are given in this research.

There is a need to regulate the disclosure of judicial proceedings because those who do not have the knowledge of law forget the fact that law has no space for sentiments. Judgments are passed keeping in mind all the legal aspects and there are meager chances that the judgment can be biased. Criticizing any judgment on legal grounds is acceptable in a democracy but criticizing judges and giving them personal remarks accounts for defamation. Maintaining their oath of allegiance to the Constitution of India, and sustaining the dignity of the office they hold, Judges have to turn deaf to any criticism. In the Global Programme for the Implementation of the Doha Declaration, it was discussed that in order to bridge the gap between a fair comments on any judgment and personal comments on judges there is a need for education, training and recommendations on how social media can affect its users.

Conclusion

Judiciary is a body responsible for adjudicating law. It has the power that provides justice to the victims. For the proper functioning of the judiciary, it is important that it does not have an undue influence on anyone. Its proper functioning is important to maintain harmony in society. Judges are social workers and any judgment passed by them is based on as per the rule established in law and with due deliberations. Their judgments must not be made a tool to attack them personally, as it is against the justice system.

References

  1. www.investopedia.com â€ş terms › s “Social Media: Definition, Effects, and List of Top Apps” -…Accessed on 13 September, 2022
  2. Data Reportal. “Global Social Media Stats October 2021”Accessed on 13 September, 2022
  3. www.royal.uk â€ş act-settlement-0The Act of Settlement | The Royal Family
  4. www.barandbench.com â€ş columns › social-media-and-the Social Media and the Judiciary – Bar and Bench

This article is written by Rishita Vekta, B.A.LLB(H) 2nd Year, from Lloyd Law College, Greater Noida U.P.

ABOUT THE INTERNSHIP

Advocate Saai Sudharsan Sathiyamoorthy is looking for Interns/Research Assistants to assist with the research and legal drafting of the 3rd Edition of Wadhwa Law Chambers Guide to the Insolvency & Bankruptcy Code and the 2nd Edition of WLC Guide to Proceeds of Crime & PMLA.

INTERNSHIP DESCRIPTION

  • Students/Researchers who have completed their 3rd year of law and above would be preferred.
  • A basic understanding of Insolvency and Bankruptcy Code, PMLA and Intellectual Property Laws.
    Roles and responsibilities
  • Work will primarily involve research in IBC, Companies Act, PMLA, Copyright Act, Designs Act, and other related laws.
  • Interns/Research Assistants will be required to physically come into the Chambers at Chennai for the duration of the internship.
  • A fixed stipend will be paid

APPLICATION PROCESS

Interested candidates can share their CV and covering letter to saaisudharsans@gmail.com

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ABOUT THE CHAMBER

Chambers of Jhuma Sen is a law chamber in Kolkata and Delhi with a domestic and international client base. Their practice base is Calcutta High Court, Tribunals, and District Courts along with the Supreme Court and other High Courts. Our Areas of practice are Civil and Corporate Litigation, Writ Matters, CyberLaw and technology law, Employment Law and Labour Law, Criminal Law Testamentary and Intestate Succession, Matrimonial Suits, Consumer Protection, Commercial Drafting, Government Contract and Contract Drafting, Regulatory Compliance, and Intellectual Property Rights.

JOB DESCRIPTION

The Chambers of Advocate Jhuma Sen invites applications for the post of Junior Associate in the Kolkata Chamber as a full-time requirement.

  1. Designation: Junior Associate
  2. Remuneration: As per experience/qualification and standard in Kolkata

QUALIFICATION AND EXPERIENCE

  • The candidate must be enrolled with Bar Council and have 2-3 years of PQE. An LL.M is desirable
  • Conduct legal research and prepare briefing or case notes
  • Draft Petitions before the Calcutta High Court, and other pleadings before the District Courts, Tribunals, Commissions, etc.
  • Supervise filing of cases by clerks before the High Court and lower judiciary, tribunals etc
  • Provide assistance in hearing before Courts and Tribunals
  • Any administrative work related to cases etc
  • Preference will be given to candidates with interest and background in Constitutional Law & Practice, Criminal Law, Matrimonial Law, and Service Law

APPLICATION PROCESS

Interested candidates are required to send in their CVs along with a Cover Letter, and a sample pleading they have drafted to email id chambers@senlawchambers.com with the subjectline “Junior Associate”.

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Introduction

A company is a legal entity formed by a group of individuals to get indulged in business. Companies in order to gain profits and reduce competition from the market often involve in activities like mergers and acquisitions. Mergers and acquisitions are a type of reconstruction that helps in expanding the business. Reconstruction is the building up of a completely new structure or description of which one has only a few parts or only partial evidence. In the case of John Holt Nigeria Ltd & Anor v. Holts African Workers Union & ors, Ademola CJN held that it was lawful for the company to re-organize by way of a reconstruction plan to improve its business and profits. Mergers and acquisitions are terms describing the consolidation of companies or assets through various types of financial transactions. Mergers refer to a process when a larger company or company of similar size merges to form a single unit. Acquisitions happen when a larger company acquires a smaller company.

Mergers and Acquisitions in other words can be stated as a business tactic in which the senior executives of the companies foresee the market strategies of economic growth, market competition, higher revenues, and adhering to higher synergies by merging or acquiring a target company to create a higher share in the market. Microsoft acquisition of Intuit (1994-1995); In 1994, Microsoft proposed a deal that would be the largest acquisition ever made in history. Microsoft saw an opportunity in Intuit’s recurring fees for processing online check-writing transactions. If the deal would have fixed Microsoft would have accounted for 90% of the market. The deal was later called off as the U.S. Justice Dept. of April 1995 sued to stop the deal, stating that the combination could lead to higher prices in the market and less competition. In June 2022, the largest acquisition ever made was the takeover of Mannesmann by Vodafone occurred in 2000. Vodafone, a mobile operator company, acquired Mannesmann, a German-owned industrial conglomerate company.

Mergers and acquisitions are some of the best business restructuring processes that have gained substantial prominence in the present-day corporate world. Virtual mergers and acquisitions have become a trend, especially in Covid period but during Covid lockdown mergers and acquisitions were down by 57% in 2020 as compared to 2019.  The modern world requires creative space for the management of its affairs. Mergers and acquisitions help in getting the required technology and the labor for running that technology.

Types of Mergers and Acquisitions Transactions

  • Horizontal- Horizontal merger happens when companies with similar kind of work merge together. This type of merger kills the competition in the market and increases revenue.
  • Vertical- Vertical merger takes place between a company and its supporting small businesses. This helps in expanding business by expanding in the early stages but which later leads to reducing the cost of purchasing.
  • Conglomerate- It is between companies with a completely different types of businesses. It is usually for diversification reasons. Usually, at the time of off-season or when a certain business is growing through losses, it is important that the businesses must have a certain level of investment in other businesses set up to overcome losses from one side of the business.
  • Concentric- When two companies operate in the same business but it is not identical but rather complementary to each other merges.

All these types of mergers have their own significance in the corporate business. All the mergers revolve around the fact that the acquirer company wants to gain profit, eliminate competition from the market, keeping themselves updated with technological advancement.

Forms of Integration

  • Statutory- When an acquirer company is much larger than the target company, the acquirer company after acquiring the target company takes all the assets and liabilities of the target company and that company ceases to exist as a separate entity.
  • Subsidiary- In this form of integration, the target becomes a subsidiary to the acquirer and also maintains its business.
  • Consolidation- In this type of integration, the earlier identity of both the companies ceases to exist and a completely new entity is formed.

The word integration suggests coming together for a cause. Here, companies integrate for meeting their company’s goals and objectives.

Forms of Acquisition

  • Stock purchase: The acquirer pays the target entity shareholders cash or shares in exchange for shares of the target company. Shareholders also bear the tax liability.
  • Asset purchase: The acquirer purchases the target’s assets and pays the target directly. The acquirer will not assume any of the target’s liabilities.

Mergers and Acquisitions Deal Structure

It is a binding agreement between the parties involved in a merger or acquisition. It states what each party involved is entitled to and what they are obliged to do according to the principles laid down by the agreement. Deal structure is simple terms, talks about the terms and conditions of a merger and acquisition. The deal is made on the basis that the top priorities of both the parties are kept upfront and it is made sure that they are satisfied, along with the risk that each party must bear. Three ways of structuring M&A deals are asset acquisition, stock purchase, and mergers.

Stages in Merger and Acquisition

  1. Merger and Acquisition Strategy Process:  The first step is to look at the accelerating business through mergers and acquisitions. The factors involved for the same can be location, raw material, technology, labour, skills etc.  Another most important factor is to arrange finance through loans, cash etc. The third step is to look for a suitable company which can match the expectations lay down by the acquirer company. It is very important to develop a preliminary valuation with the target company.
  2. Target Identification Strategies:  In this stage of merger and acquisition, it is important for acquirer companies to have a strong research work setup for target identification. The future course of actions and estimated profits are calculated through customer choices, technological setup, management etc. of both acquirer and the target company before merging or acquiring its business. Before entering into the transactions of merging or acquiring it is very important for an acquirer company to produce a list of target companies, to know the risk involve in such transactions, take advice from the market experts etc.
  3. Information Exchange:  When both parties agree to go ahead with the deal the documentation process starts. A binding legal document is formed to carry out the process of mergers and acquisitions. After that, the entities share their company details with each other to know about the position of both the companies.
  4. Valuation and Synergies: Both the parties wish to strike a deal where they can earn profits. Agreement is reached between the parties only when both the parties feel that the offer is reasonable. Buyer tries to assess the situation by keeping in mind the perks of the target company which won’t be possible without the merger and acquisition.
  5. Offer and Negotiation: At this stage, an offer is given to the shareholders of the target company. Both the parties try to negotiate the prices to strike a deal that can be beneficial to both of them.
  6. Due Diligence:  Due diligence includes a review of the target entity including products, customer base, financial books, human resources etc. The objective is to ensure that information is correct based on which the offer was made. In case of any wrong information, revision is done to justify the actual information.
  7. Purchase Agreement: At this stage of Mergers and Acquisitions a draft of the agreement is outlined about the cash and stock to be given to target shareholders. It also includes the date and time of the payment.
  8. Deal closure and integration: After the purchase agreement, both the parties close the deal by signing the document and the acquirer company acquires the target company. The management staff of both companies works together to act as a single identity.

Each and every step of mergers and acquisitions is important and requires various skill sets, research, time, and resources to fulfil. Any mistake regarding any of these steps might result in huge losses. The merger of America Online and Time Warner is one of the biggest failures in the history of mergers and acquisitions. The managers behind this deal failed to analyze the dynamics of new media landscape and got rushed into getting a new media platform. Thus, the company reported a loss of US$ 99billion- which is one of the largest annual net loss ever reported.

Advantages of Merger and Acquisition

  • The common goal of mergers and acquisitions is to create synergies with the mutual perks of the single entity thus formed, which won’t be possible if the companies would have worked separately.
  • It provides higher revenues and strong market powers by merging and acquiring a company with upgraded capabilities without having to take the risk of developing the same internally.
  • When a company acquires a completely different business it helps it in diversification of cash flows and avoidance of losses during a slowdown in their industry.
  • Start-ups usually have skills and knowledge but they lack resources to expand their innovation. M&A provides these start-ups a way to reach out to companies with financial stability and these start-ups will provide human resources to the companies.

Disadvantages of Merger and Acquisition

  • Mergers and acquisitions eliminate or reduce the competition in the market. This increases profit for the acquirer company but at the same time, it leads to a substantial increase in prices. The company can now increase its prices thus acquiring the monopoly power in the market. The consumers will not be left with many choices rather than to purchase those products at high prices.
  • Merger and acquisition lead to job losses owing to the fact that the acquirer company has its own working staff and thus it takes few people in employment from the target company who are highly skilled. Thus, underperforming staff’s jobs are taken away.
  • When the size of an acquirer company increases, the situation might lead to the loss in the same degree of control that earlier prevailed. Workers might lose interest in their work.
  • Any mistake in the valuation of the whole process might lead to huge losses.

Laws Governing M&A in India

In India, the process of mergers and acquisitions are court driven and requires the sanction of National Company Law Tribunal. Other than court-based M&A, the legislative reforms have introduced short-form mergers that can be carried out privately without invoking the domain of the courts. On the regulatory front, SEBI has been active in making and implementing regulations governing takeovers.

Companies Act, 2013

Mergers & Acquisitions are governed under the Section 230-240 of Chapter XV of the Companies Act, 2013. It lays down various steps and procedures to be followed during mergers and acquisitions. It regulates and prohibits anti-competitive agreements.

Conclusion

Mergers and acquisitions bring out the idea of extracting the best out of everything. They lead to innovation and growth in various fields. The laws regarding mergers and acquisitions are made in a way to regulate competition and fluctuations in money flows. Mergers and acquisitions have given the corporate world different perspectives looking into business objectives. 

References

  1. Wild C. and Weinstein S. (2009) Smith and Keenan’s Company Law; Pearson Education Ltd, 14th Ed.
  2. Aina K.O.; Company Law and Business Associations 1, Law 534, National Open University of Nigeria.
  3. Companies Act 2013, Act of Parliament,2013(India).

This article is written by Rishita Vekta, B.A.LL.B (2nd Year) student from Lloyd Law College, Greater Noida U.P.

ABOU THE COMPANY

Reliance General Insurance, a part of Reliance Capital, is one of the leading general insurance companies in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, and Travel Insurance, and offers customised solutions to meet the protection needs of each customer.

INTERNSHIP DESCRIPTION

Reliance General Insurance is looking for LLB Freshers for an Intern role who can join them as Legal Interns (2-3 months) and get learning opportunities as Legal Interns.

  1. Team: MACT
  2. Location: Ahmedabad and Mumbai
  3. Qualification: LLB Fresher, Age – Max 25 Years
  4. A stipend will be given during the internship.
  5. Post 2 months internship, based on experience

APPLICATION PROCESS

Prospective candidates can send their applications to shruti.palkar@relianceada.com and tushar.gujar@relianceada.com and vaibhav.g.rane@relianceada.com

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ABOUT THE COMPANY

Atos is a global leader in digital transformation with 111,000 employees and annual revenue of c. € 11 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 71 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), listed on Euronext Paris and included in the CAC 40 ESG and Next 20 Paris Stock indexes.

JOB DESCRIPTION

  1. Designation: Legal Contract Manager
  2. Job Location: Pune
  3. PQE: 0-1 year

ROLES AND RESPONSIBILITIES

  • Supporting the LCM in the establishment of contract management procedures, tools and methodologies to implement the contract in accordance with its terms, documenting and managing records with the objective to maintain complete contract documentation files and audit trail.
  • Collaboration with the delivery teams in scope/gap analysis, project governance, management of change requests, monitoring of the acceptance procedures, contract interpretation, etc.
  • Ensure that all contract changes (e.g. addendum) are recorded in the correct format and that the performance of the contractual obligations is properly tracked and documented.

APPLICATION PROCESS

APPLY HERE

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