Corporate Law Cell Report 2015 – 16

Faculty In-charge: Mrs. Smita Sabne

The Corporate Law Cell, founded in September 2009, is a student run body overseen by faculty in-charge Mrs. Smita Sabne. The Cell, since its inception in the academic year (2009 -2010) has grown by leaps and bounds.

The vision of the Corporate Law Cell for the academic year 2015-2016 was to familiarise the students with basic concepts of Corporate and Commercial Laws and help them understand various facets of the same, by encouraging student participation in different research and writing activities. This year, the Cell intended to facilitate better comprehension of corporate laws among students through events, competitions etc. to supplement regular classroom learning experience.

The activities undertaken by the Cell this year are-

Extempore Moot Court Competition- Edition III:

To identify and nourish advocacy skills among the students of ILS Law College especially in the arena of Corporate Laws, the Corporate Law Cell organised an Extempore Moot Court Competition on 10th September 2015. The orientation for the first-time mooters for this event was held on 31st August, 2015 where an imaginary case was argued. The event attracted attention as it deviated from the traditional way of providing many days to students for working on a moot problem.

Raghuram Aruva, Daksha Chouksey, Akash Katawati, Shalini Chadayammuri, Anand Mohan, Devyani Nath and Ashwin Sathyanath drafted 7 moot problems for the competition based on Law of Contracts, Arbitration, Intellectual Property Rights and Competition Law while the members of the Corporate Law Cell drafted 2 problems on Consumer Protection Act and Contract Law.

The problems were released four hours before the preliminary round and the finalists were expected to argue a new moot case which was released thirty minutes before the final round of the competition. The format required students to analyse and prepare their arguments within this limited time frame.

The Cell separately organised this competition for the first year students as well and ensured that they were not pitted against the experienced batches by holding separate rounds for them. This ensured a tremendous response from the students in the first year. A total of 151 students participated in the competition.

The final round of the competition for the II- IV BA LLB was judged by Ms. Zara Kaushik who is a graduate from NALSAR and has worked at renowned places including Allen & Overy, Baker and Mckenzie, Trilegal and AZB Partners. The final round for the students of I BA LLB was judged by Solaiappan Odayappan (V BA LLB) and Anand Mohan (III LLB).

The winners of the competition were: For senior batches- Harish Adwant (IV BA LLB) and Arati Ranade (III BA LLB) and for first year students- Lisa Mishra (I B.A.LL.B).
The response was overwhelming and the Cell plans to continue organising it in the coming years as well.

Regular Tuesday Sessions:

The Cell has been organising regular sessions every Tuesday after its Opening Session on the 16th of July, 2015. These sessions have been on the following topics

  • Types of Business Organisations- 21st July, 2015
    The Cell started its sessions this year from the very basics by holding a session on types of business organisations. This exercise involved dividing the students into groups and assigning each group with a business organisation (like a private company, a public company, a cooperative society etc). The groups would then give a presentation on each facet of the type of organisation assigned to their respective groups. This was an interesting and a fruitful exercise.
  • Understanding the Basic Corporate Jargons- 28th July and 4th July, 2015
    This session was organised by the members of the Cell in order to introduce the students to basic concepts of Corporate Law. This was done by discussing concepts like Memorandum of Association, Articles of Association, Share Capital etc. This was done to give them a better understanding of some basic corporate jargons. This session was conducted in two consecutive weekly sessions.
  • Doctrine of Indoor Management and Constructive Notice- 14th August, 2015
    This session was conducted by Aayush Kainya III BSL LLB. He discussed the origin of the doctrine of constructive notice and explained it in detail and also how the doctrine of indoor management is an exception to it.
  • Workshop on Deadly Internship Assignments- 25th August, 2015
    The aim of the workshop was to familiarise students with research techniques that could prove to be useful for them while working on internship assignments. Students were divided into five groups and each group was given a query based on varied commercial laws such as Contract Law, Company Law, Arbitration or Competition Law. Each group was required to prepare a note on the query given to them, identifying the issue, the provisions of law applicable and the legal position with respect to the issue. The time allotted for the exercise was 45 minutes. All the students who attended the session successfully prepared and presented a note. Few students were given a token of appreciation for preparing the Best Note.
  • Overview of the Competition Act, 2002- 8th December, 2015
    This session was conducted by Solaiappan Odayappan from V B.S.L, L.L.B. Competition Law is a fairly new piece of legislation and is one of the newest additions in the broad umbrella of Corporate Laws. This was a comprehensive session on various dimensions of the Competition Act, 2002 and gave the students a very useful insight into the evolution of Competition Law.
  • A primer on Securities Law- 15th December, 2015
    This session was conducted by Rigved Goregaonkar from III LL.B. Since Securities Law forms a very important part of Corporate Law, the session concentrated on providing a primer on Securities Law, mainly targeting students of the first and second year. Basics like types of markets, different instruments traded in a market, regulations etc. were discussed. The session was useful in giving an introduction about the law to those who had little idea about it and was very well appreciated by all the participating students.
  • Essentials of Corporate Finance- Key concepts- 5th January, 2016
    This session was conducted by Krishnan Shakkottai, (II LLB). He discussed certain basic concepts relating to corporate finance like time value for money, risk, return, capital structure etc.
  • The Ordinance on Commercial Courts, 2015- 12th January, 2016
    This session was conducted by Aayush Kainya, (III BSL). He discussed the establishment of new types of courts called the Commercial Courts at the District Court level and Commercial Division and Commercial Appellate Division of the respective High Courts at the High Courts level.

These Courts will help expedite the process of settling commercial disputes as defined under the Act.

  • International Investment Arbitration- 19th January, 2016
    This session was conducted by Krishnan Shakkottai (II LLB). He discussed the parameters that are considered while drafting bilateral and multilateral investment treaties. He also discussed among other things how countries can be dragged to arbitration by individuals.
  • Guide to placements and PPO’s- 16th February, 2016
    This was a very interactive session, where students from the fifth year who have been handpicked by some of the top law firms and companies in the country by pre placement offers and college placements. The Cell saw a very good turnout for this session and the students found it very useful where they took back some useful tips regarding internships and placements.
  • Lifting and piercing of corporate veil and corporate criminal liability- 25th February, 2016
    This session was conducted by Gokul Thampi (IV B.S.L, LLB), Sharada Krishnamurthy (V B.S.L, LLB) and Parmeet Batra (III B.S.L, LLB). The students dealt with the evolution of the principle of lifting and piercing of corporate veil and evolving ingredients of the concept of corporate criminal liability.

The Cell organized its closing session on 8th March, 2016 where the new members for the next academic year were introduced.