Indian company law understands the Board of Directors not merely as a managerial organ, but as an institution of corporate stewardship. At its core, stewardship reflects the idea that directors exercise power in trust, for the company as a distinct legal person, and not as proprietors of corporate authority. This distinction is critical, particularly in […]
Corporate governance is no longer understood merely as a compliance obligation imposed by company law or securities regulation. In contemporary corporate practice, it represents a foundational business infrastructure, a framework through which decision-making authority is allocated, accountability is enforced, and long-term value is preserved. At its core, corporate governance addresses a fundamental problem inherent in
Fundraising, as encountered in legal practice, is rarely a linear or isolated event. Transaction counsel typically engage with fundraising decisions not only at the point of signing, but far more frequently during institutional diligence, follow-on negotiations, governance disputes, or exit processes. It is at these later stages that the legal and contractual consequences of earlier
For early-stage investors, the decision to deploy capital is rarely driven by present-day metrics alone; it is fundamentally shaped by the clarity and certainty of how they will ultimately realise value from their investment. In India’s private-company landscape where shares are not freely transferable, liquidity is limited, and secondary markets are still maturing well-defined exit
The culmination of term sheet negotiations marks a significant milestone in any fundraising process. Yet, it is only the beginning of a far more detailed and legally consequential phase—one in which the parties transition from broad commercial alignment to the structuring of binding rights and obligations. Once the commercial framework has been agreed upon, the
Cross-border fundraising has become an essential component of the capital strategy for Indian startups and growth-stage companies, particularly those operating in technology-driven and globally scalable sectors. As venture capital and private equity increasingly flow through international structures, founders are required to navigate a regulatory landscape that is both sophisticated and compliance-intensive. At the centre of
In India’s rapidly evolving startup landscape, the pursuit of capital often outpaces the establishment of legal structure. Amidst the momentum of valuation discussions and funding negotiations, it is legal due diligence that ensures the enterprise rests on a foundation of compliance and enforceability. The principle underlying this exercise is not new, it traces its origin
Valuation often forms the centrepiece of any startup fundraising discussion. For founders, it reflects the prospect of their vision; for investors, it signifies the price of future potential. Yet, in the early stages of a company’s life cycle, valuation is seldom a precise science. It sits at the intersection of commercial optimism, market sentiment, and
A term sheet marks the formal beginning of a fundraising transaction. It is a pre-contractual document that outlines the key commercial and legal contours of a proposed investment. While it is not a binding agreement in itself, it serves as a structured summary of the parties’ understanding and intent, setting the stage for the detailed
A capitalization table, commonly referred to as a cap table, is a structured record of a company’s ownership detailing the securities issued, the percentage of holdings, and the rights attached to each class of shares or instruments. It is, in essence, the company’s equity map. Beyond being a numerical summary, a cap table reflects the
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