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5 Indian J.L. & Pub. Pol'y 65 (2018-2019)
Allowing Ideas to Change Our World: An Analysis of the Corporate Regulatory Framework for Start-ups in India

handle is hein.journals/ijlpp5 and id is 83 raw text is: ALLOWING IDEAS TO CHANGE OUR WORLD: AN ANALYSIS OF THE CORPORATE REGULATORY FRAMEWORK FOR START-UPS IN INDIA - Nitansha Nema and Shivam Burghate ABSTRACT On the 16th of January, 2016, the Government of India unveiled the Start-up India Scheme in consonance with its objective or rather promise of transforming the nation into an economic superpower. Since then, several programmes and policies have been initiated by the Government to boost the growth of Start- ups and do away with the restrictive Government licensing and regulatory policies that account for the long gestation period for Start-ups. On the 13th of June, 2017, a Notification was issued by the Central Government amending the Indian Companies Act, 2013 to align its provisions with Start-up India by doing away with a number of procedural compliances. This paper aims at analysing the impact of this amendment on the growth of Start-ups in the country and addressing the problems that remain post this amendment. It will address three major questions; firstly, the problems surrounding the recognition and certification of start-ups post the amendment; secondly, the problem of funding that creates a dilemma between getting adequate investment and compromising on the promoter's original idea for the start-up. This segment will also discuss the ironically devious taxation system that imposes challenges to the initial growth of these start-ups. The third problem poses an interesting question as it addresses the entry barriers created by existing corporate giants in the same market and the role of the judiciary in addressing these anti-trust issues that has potential for creating an ecosystem, conducive for Indian start-ups. Lastly, a comparative study of the start-up environment of various regulatory systems around the globe will be undertaken to provide a forward-looking and growth- oriented solution to these problems. ' Authors are IV year B.A. LL.B. (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow. 65

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