King & Spalding (JD Supra India)
Managing Decommissioning Risks In Asian M&A Transactions
By the end of 2026, approximately 134 producing Concessions and Production Sharing Contracts (each, a “PSC”) will have expired in South Asia. It is expected that 900 fields will cease production (with 45% of such fields being offshore), and 800 platforms will require decommissioning. The total cost of decommissioning is estimated at US$100 billion. In the ordinary course of portfolio...
Trade Facilitation Agreement On Track for Implementation
On November 27, the General Council of the World Trade Organization (WTO) adopted a decision to implement the Trade Facilitation Agreement (TFA). The TFA was the centerpiece of the Bali Package, which had been accepted at the Ministerial level in December 2013 at Bali and was set to be implemented by the deadline of July 2014. The implementation of the TFA, however, was derailed when India sought
REGULATORY: Global Competition Law: Competition Commission of India goes full power with investigation against Coal India— A Study in Contrast to a Recent European Commission Decision
The Competition Commission of India (CCI) has started an investigation against Coal India Limited (CIL) alleging unfair trade practices and abuse of a dominant position in the supply of coal to power producers. If the allegations are substantiated, the CCI may impose fines of up to 10 per cent of the average turnover of CIL for the last three years and may order CIL to modify its commercial...
Solar Trade Wars Continue To Escalate
On September 18, 2012 the Government of India initiated an antidumping case on solar cells (wafer or thin film) originating from the United States, China, Taiwan, and Malaysia. Separately, on September 6, 2012, the European Commission initiated an antidumping duty investigation on imports of crystalline silicon photovoltaic modules and key components (i.e., cells and wafers) originating in the...
REGULATORY: Global Competition Law: India Coal Complaint Sets Off Explosive Fine by Suzanne Rab
The Competition Commission of India (CCI), India’s antitrust watchdog, has fined ten explosives companies a total of 600 million rupees (approximately USD 11.5 million/ EUR 8.7 million) for rigging bids put out by Coal India Limited (CIL). The CCI imposed a fine on the explosives manufacturers representing three per cent of their average three-year turnover.
Indian Supreme Court Holds for Vodafone
On January 20, the Indian Supreme Court handed down a major victory for foreign investors in the landmark case of Vodafone International Holdings B.V. The Vodafone case arose from Vodafone’s 2007 acquisition of an indirect stake in Hutchison Essar Limited, an Indian telecom company (HEL). The acquisition involved the purchase by a Vodafone subsidiary of shares in a Cayman...