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Punching the clock
An elderly billionaire’s comments about working long hours has fuelled a firestorm. Katherine Abraham quizzes members of the legal fraternity about the merits of working tirelessly in a profession notorious for its skewed work-life...
Deals of the Year 2023
India Business Law Journal reveals 50 standout deals and disputes of 2023, and the law firms that successfully concluded them
The year 2023 will be remembered for its several notable highs for corporate India –...
Unlawful occupation compensated after three decades
In the recent case of Rajeev Kumar Damodarprasad Bhadani and Ors v The Executive Engineer, Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Ors, the Bombay High Court ordered MSEDCL to acquire the land of...
‘Doyen of the bar’ Fali Nariman a guardian of the constitution
The passing of India’s first additional solicitor general, Fali Sam Nariman, on 21 February 2024, at 95, marks the end of an era as India loses one of its finest first generation of lawyers...
Flow interrupted!
The central bank’s move to curb evergreening loans looks set to backfire as the future of alternative investment funds may hang in the balance, writes Freny Patel
Many non-bank finance companies (NBFCs) are running pillar-to-post...
Gathering dust
With more than 50 million cases pending at courts across the country, India holds the dubious distinction of one of the largest backlogs of cases in the world, with decades-old commercial disputes burdening litigants,...
Securing the rights of dissenting financial creditors
In the recent case of DBS Bank Limited Singapore v Ruchi Soya Industries Limited and Anr, the Supreme Court held that in the insolvency proceedings of a corporate debtor, the dissenting financial creditors were...
Building an infrastructure superhighway
Mukul Shastry details how state and central governments can plug the legal and regulatory gaps holding back the infrastructure sector
Human civilisation has been in existence for at least 5,000 years. During much of those...
Constitution upholds arbitration neutrality, party autonomy
The Supreme Court recently held, in Lombardi Engineering Limited v Uttarakhand Jal Vidyut Nigam Limited, that any arbitration clause inconsistent with the constitution is invalid. The court also held that it can determine if...
Disputed jurisdiction for property, commercial contracts
In the recent case of Sanjay Suganchand Kasliwal v Golden Dreams Buildcon Pvt Ltd and Ors, the appellant appealed to the Bombay High Court against the refusal of the civil court to hear the...
Reasoning at the heart of decision
The Supreme Court recently held, in Ramkrishna Forgings Limited v Ravindra Loonkar, Resolution Professional of ACIL Limited and Anr, that when the National Company Law Tribunal (NCLT) invoked section 31(2) of the Insolvency and...
Karthik Somasundaram boosts Spice Route’s disputes practice
Karthik Somasundaram has joined Spice Route Legal’s disputes practice as a partner based in the Mumbai office.
Somasundaram has more than two decades of experience and is widely recognised for his proficiency in TMT, IP,...
Ensuring liquidation preference to protect investor rights
Investment agreements generally include provisions for liquidation preference. Investors have the right to receive a specific amount before other shareholders on the occurrence of pre-defined liquidation events such as acquisitions, the merger and sale...
Literal or liberal interpretation in extending arbitration
In 2015, section 29A was added to the Arbitration and Conciliation Act, 1996 (act), to provide that the arbitral tribunal must make an award within 12 months of the close of pleadings. This period...
The value vector
Law firms are going the extra mile to prove their intrinsic worth to corporate counsel, but are their billing innovations paying off? Vandana Chatlani reports
Almost 4,000 companies listed on India’s stock exchanges spent USD7.54...
Data dilemma
The very definition of a keeper of data has ramifications for how the relationship between users and processors in India will evolve, and in turn how laws must adapt to protect and regulate, writes...
Stirring up a hornet’s nest
The Supreme Court of India has set up a seven-judge bench to reconsider a ruling on unstamped or insufficiently stamped agreements. Indrajit Basu looks at the controversy surrounding the original judgment
Editor's note
In December 2023,...
Dentons LL secures NCLT approval for ACIL resolution plan
Dentons Link Legal represented the resolution professional, Ravindra Loonkar, for ACIL to secure approval from the National Company Law Tribunal (NCLT) for the resolution plan proposed by Ramakrishna Forgings.
The plan, previously sanctioned by an...
The unexpected GST burden on Japanese corporate guarantees
The Goods and Services Tax (GST) was a game-changer in the financial and corporate sectors. Recent changes to the GST have significant implications for Japanese companies in India, particularly how corporate guarantees are taxed.
Corporate...
Arbitrator autonomy still demands proper decision-making
The Supreme Court held, in Batliboi Environmental Engineers Limited v Hindustan Petroleum Corporation Limited and Anr, that the arbitrator has the right to interpret terms of a contract in a reasonable manner, and such interpretation...
Arbitrator still in place despite unilaterally adjusting fees
Chennai Metro Rail Limited (CMR) awarded a public tender to M/s Transtonnelstroy Afcons (JV) (Afcons). Afcons invoked arbitration when disputes arose and a three-member tribunal was constituted. The parties agreed that each arbitrator would...
Cross-border tax sole benefit still a good object
Foreign Direct Investment (FDI) in India has greatly increased in the past decade, particularly after the pandemic. This has led to more cross-border transactions in which foreign investors transfer their company holdings as a...
Supreme Court’s stand on unstamped arbitration agreements
Against the background of a roller-coaster ride of conflicting rulings, the Supreme Court in its recent judgment in In Re: Interplay Between Arbitration Agreements Under The Arbitration And Conciliation Act 1996 and the Indian Stamp Act...
Adhere to the patent rules or else
Delhi High Court stressed the importance of following the Patent Rules, 2003 (rules), and the significance of compliance in the recent case of Akebia Therapeutics Inc v the Controller General of Patents, Design, Trademark and...
Fresh directions
National Company Law Tribunal Mumbai counsel Mansi Kaku explores crucial changes that the insolvency board seeks to better align the corporate insolvency resolution process and overcome significant challenges
It is often said that, in...
The almighty stamp
Court judgment leaves disputes community unhappy
Earlier this year, the Supreme Court of India delivered a controversial ruling, which stirred heated debates and concern among disputes lawyers across India.
The judgment, rendered by a five-judge Constitutional...
Top court provides clarity on captive power generation
The Supreme Court judgment in M/s Dakshin Gujarat Vij Company Limited v M/s Gayatri Shakti Paper and Board Limited and Anor (Dakshin Gujarat) settles long-standing issues related to captive generation plants and the use...
Liability of directors for dishonoured cheques
The Supreme Court recently reaffirmed the principles relating to the liability of a director of a company for the dishonour of a cheque issued by the company. In Siby Thomas v M/S Somany Ceramics...
Making room for confessions
The inclusion of the settlement and commitment regulations in the amended competition law is set to boost the credibility of India’s antitrust commission and promote fair play in the market. But stakeholders see room...
Workplace harassment not to be shrugged off
As most companies in India return to the work-from-office model, increased on-site interactions make it imperative for employers to put in place robust mechanisms that effectively address workplace harassment. An employee’s misconduct often results...
RBI revamps defaulter guidelines in draft paper
The Reserve Bank of India (RBI) has unveiled a draft paper of proposed revisions to the guidelines for handling wilful defaulters.
According to the bankers’ bank, the suggested changes encompass an expanded scope for regulated...
Dentons Link Legal acts for Educomp Solutions at NCLT
Dentons Link Legal has assisted Educomp Solutions to secure approval from the National Company Law Tribunal (NCLT) for the resolution plan proposed by Ebix Singapore.
Educomp Solutions is an edtech company that has been undergoing...
No room for camouflaged urgent interim relief
Section 12A of the Commercial Courts Act, 2015 (act), provides that no commercial case may be brought until the parties have attempted to resolve their dispute through pre-institution mediation in accordance with its associated...
Saraf adds partners to boost new Hyderabad branch
Saraf and Partners has established a new office in Hyderabad to solidify the firm’s presence in the region.
Heading the Hyderabad office are partners Durga Bose Gandham and Altaf Fathima who have joined from DSK...
The clouds of Rainbow Papers roll away
The Supreme Court’s judgment in State Tax Officer v Rainbow Papers Limited was widely criticised for disregarding the waterfall mechanism of the Insolvency and Bankruptcy Code, 2016 (IBC). This prioritises the claims of workmen, secured creditors,...
Arbitration: reins tighten on judicial intervention
A fundamental principle of India’s arbitration law is to have limited judicial intervention in the process. It is a principle that balances the sanctity of arbitration agreements against access to justice when necessary. The...
Dissent is not award
The Supreme Court, in Hindustan Construction Company Limited v National Highways Authority of India, held that the dissenting opinion of an arbitrator cannot be treated as an award if the majority award is set...
Cyril Shroff, Vijayendra Pratap Singh take up new SIAC roles
The Singapore International Arbitration Centre (SIAC) has appointed new members of the board of directors and the court of arbitration.
Cyril Shroff, managing partner of Cyril Amarchand Mangaldas, is now a director to the SIAC...
Insolvency and Bankruptcy Code prevails over Electricity Act
The Supreme Court (SC) recently held that the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), override those of the Electricity Act, 2003 (act), so far as they relate to the recovery of...
Shashank Shekhar, Tushar Joshi quit Trilegal to work at DMD
Partner Shashank Shekhar and principal associate Tushar Joshi, both formerly colleagues at Trilegal, have moved to DMD Advocates to solidify the firm’s tax practice.
Shekhar is a tax lawyer with a more than 20-year track...
Shivani Khandekar quits Trilegal, joins Singhania as partner
Shivani Khandekar has joined Singhania & Co’s dispute resolution practice as a partner after quitting her role at Trilegal.
Khandekar had been working with Trilegal since 2017 and was a counsel with the team’s dispute...
Touching down on workplace evolution
Beyond navigating employment laws, in-house counsel are ensuring their organisations grasp forward-looking inclusion issues to create an attractive workplace. TATA SIA Airlines (Vistara) legal executives Shashank Jain and Ayushi Yadav examine the new rules...
Mediation Bill to reduce backlog
India’s Mediation Bill (2021) has been passed by both houses of parliament to alleviate the staggering backlog of court cases.
The bill, which was given the green light by the Rajya Sabha (upper house) and...
The influence marketing has on investment decisions
Influencer marketing, before known as word-of-mouth marketing, is now a primary marketing strategy for many businesses. It targets audiences using individuals who have established a relationship of trust with those audiences and who initiate...
High court rules amendments face twin test
A dispute over car parks has led to a high court ruling that any documents added to civil proceedings must meet a twin test of fairness under amendments to the Code of Civil Procedure.
The...
Aircraft lessors hope for a smoother runway under new bill
India is the third largest aviation market globally, with 80 per cent of its commercial fleet leased, compared to the global average of 53 per cent. The Convention on International Interests in Mobile Equipment...
Bad faith means no trademark protection
In the rectification petition, BPI Sports LLC v Saurabh Gulati and Anor before Delhi High Court, the petitioner, a prominent company in the dietary and nutritional supplements sector, succeeded in cancelling a registered mark on...
Leave under a cloud leave shares behind
Bad leaver provisions are often included in shareholders’ agreements in start-ups, particularly up to series C rounds of funding. Their purpose is to discourage a founder from leaving the business after raising institutional investment...
Limitation clock still runs despite settlement talks
In 2012, the Ministry of Defence (MoD) and B and T AG (BTAG) entered into a contract for BTAG to supply sub-machine guns to the MoD. As BTAG delayed supplying the goods, the MoD...
Evolving jurisprudence of arbitrability of fraud
Operating on the tenets of party autonomy, the arbitration clause has become a boilerplate in most commercial contracts. The Arbitration and Conciliation Act, 1996, does not specifically exclude any category of disputes as being...
Farm it or lose it to Sarfaesi
The Sarfaesi framework gives a clear advantage to banks and financial institutions whose loans have become non-performing assets (NPA). Under it, an NPA can be reconstructed and turned into a marketable asset. In fact,...
Courts give teeth to international arbitration
The Indian Arbitration and Conciliation Act, 1996, was amended in 2015 by legislation (amendment act), which altered the entire landscape of the arbitration regime. This followed the 2014 Law Commission report number 246, which...
Split verdict on legitimate expectation
Adivision bench of the Supreme Court rendered a split verdict while deciding whether a tax exemption could be granted on the basis of the doctrine of legitimate expectation. In the matter of M/s KB...
Agreement to sell does not transfer proprietary rights
In a recent judgment on the Ghanshyam v Yogendra Rathi property dispute case, the Supreme Court of India upheld the possessory rights of the plaintiff-respondent, but clarified that an agreement to sell did not...
Adish Aggarwala takes reins of Supreme Court Bar
Adish C Aggarwala, former vice president of the Supreme Court Bar Association of India (SCBA) and senior advocate, was elected as its president.
Senior advocate Dushyant Dave, who was SCBA president until he resigned in...
Sandeep Bajaj steps down as PSL elevates trio as equity partners
Sandeep Bajaj, founder and managing partner of PSL Advocates & Solicitors, has stepped down from his current position to focus on his counsel practice.
Sameer Jain will continue as the founder and managing partner of...
Milanka Chaudhury reinforces Trilegal’s dispute resolution
Milanka Chaudhury joins Trilegal as partner in the dispute resolution practice in New Delhi, taking the firm’s partnership strength to 104.
Chaudhury has 23 years of experience in dispute resolution having worked extensively in aviation,...
A greater good
Law firms across Asia are putting profits aside to focus on pro bono work, community engagement, sustainability and staff welfare. Vandana Chatlani reports
Law firms have long recognised the importance of promoting access to justice...
Ankur Singh, Riddhima Murjani now partners at Samvad
Principal associates Ankur Singh and Riddhima P. Murjani have been promoted as partners at Samvad Partners.
Ankur, a graduate from the National University of Juridical Sciences, Kolkata, joined the firm in 2017 gaining significant experience...
The challenges of impact investment facing PE investors
Globally, private equity investors have been a driving force for economic growth, and have recently been adding responsible investments to their portfolios. This is driven by factors such as climate change, regulatory developments, and...
Vidarbha: The ratio that wasn’t
In M Suresh Kumar Reddy v Canara Bank and Ors, the Supreme Court clarified that its observations in Vidarbha Industries Power Limited v Axis Bank Limited were restricted to the particular facts of that case. Therefore, except...
Your next judge may be an algorithm
Artificial Intelligence (AI) is now a familiar term and is a part of our everyday lives. AI is behind applications performing tasks that once required human effort. Today, lawyers use AI for research, document...
Contractual terms prevail over powers of regulatory commissions
In Haryana Power Purchase Centre v Sasan Power Ltd and Ors, the Supreme Court held that neither regulatory commissions nor the Appellate Tribunal for Electricity (APTEL) can use regulatory powers to vary the terms...
Law stands above commercial wisdom
The Supreme Court’s 3 May judgment, in MK Rajagopalan v Dr Periasamy Palani Gounder & Anr, shows insolvency resolution plans must be approved by a committee of creditors before being put to an adjudicating authority.
The...
Time of the essence in appeal limitations
The Supreme Court has shed light on the application of the Indian Limitation Act, 1963, and the General Clauses Act, 1897, in arbitration awards.
The court addressed the crucial question about the effect of court...
No stamp, no arbitration
Supreme Court judgment on 25 April 2023 (NN Global Mercantile Pvt Ltd v Indo Unique Flame Ltd) finally settled the ongoing legal conundrum of the enforceability of an arbitration agreement in an unstamped contract.
In...
When arbitration suits the court
An April 2023 decision by a division bench of the Supreme Court of India has held that arbitration is the appropriate method of deciding whether a development agreement can be lawfully cancelled. It also...
SAM names Rohit Garg as partner to augment tax practice
Rohit Garg, formerly an associate partner at DMD Advocates, is Shardul Amarchand Mangaldas & Co’s latest addition to the partners list.
Garg has more than 16 years of experience in tax litigation, representing clients before...
Fundamental rights and internet gatekeepers – A new dawn
Technology is acting as a disruptor across all spheres: social, economic, and legal. Constitutional rights jurisprudence has not been untouched by industrial revolution 4.0. Recent decisions of constitutional courts, worldwide, have arisen from or...
Founder indemnities balance risk against investor comfort
Indemnities from founders of investee companies have always been heavily negotiated at the time of venture capital investments. With venture capital investments becoming increasingly common, the framework for the indemnities that investors expect from...
Former directors stay on the hook despite successful CIRP
Under section 138 of the Negotiable Instruments Act, 1881 (NI Act), if a dishonoured cheque is not subsequently met or paid, the issuer of the cheque will have committed an offence. Where the defaulter...
Change in law generates changes in attitude
In two judgments delivered earlier this year, the Supreme Court has settled disputes over the change in law clauses in power purchase agreements that have been on-going between generation companies and distribution companies (DISCOM)...
Supreme Court allows Ezeego, Yatra to settle insolvency dispute
The Supreme Court on 2 May allowed Ezeego One Travel and Tours to withdraw its insolvency dispute against Yatra Online following a settlement where Yatra would pay Ezeego INR16 million (USD194,000).
Earlier in March 2023,...
Kamaljeet Singh joins AP & Partners after quitting JSA
Kamaljeet Singh, who brings 12 years of experience to the team, is the newest partner in the disputes practice at AP & Partners.
Singh has successfully represented multinational corporations, financial institutions, and governmental bodies in...
Liberalising education
Is the liberalisation of India's education sector a lesson in how not to open a market? Indrajit Basu reports.
In early January, India approved a plan to allow foreign universities to open campuses in the...
Indian Law Firm Awards 2023
Recognising and rewarding exceptional legal work. Katherine Abraham reports
India’s legal industry is experiencing a surge in activity, driven by increased deal-flow and record-breaking IPOs. While the most recognised law firms continue to dominate on...
No arbitration for time-barred issues
The Bombay High Court, in Shriram EPC Ltd and Anor v Gaja Trustee Co Pvt Ltd, held that it would not be right for the court to foist unwarranted arbitration on the parties when clearly...
Apoorva Guruprasad takes over litigation at Aarna Law
Aarna Law promotes advocate Apoorva Guruprasad as head of the firm’s litigation practice.
Guruprasad has more than 15 years of experience in civil and commercial litigation and has appeared before the Supreme Court of India, various high courts, district courts and tribunals.
Guruprasad has also...
Tributes pour in for NK Anand India’s respected IP pioneer
Mr Nawal Kishore Anand, the founding father of Anand and Anand and one of the first IP lawyers in India, died on 29 March. Mr Anand was a visionary who envisioned a strong IP...
Judging retirement
Are mandatory retirement ages for senior judges discriminatory? And are we pushing out our finest legal minds just as they hit their peaks of knowledge? Our regular columnist for sister publication China Business Law...
Bombay High Court upholds pre-2013 put options
Option clauses are often included in shareholders’ agreements to protect investors and provide exit opportunities. While put options give shareholders the right to sell securities, call options give them the right to buy securities.
The...
Law holds companies to agreements including interest
A claim for interest allows a party to recover a loss suffered by being deprived of the use of money, which is legitimately due. In India, the award of interest is primarily governed by...
Before not after regulation for digital markets
Sustained interest from private equity and venture capital investors has led India to become the third largest global startup ecosystem, with over 100 unicorns. Its digital economy is projected to reach USD1 trillion by...
Pre-deposit under SARFAESI is mandatory
Pre-deposit of 50% under section 18 of the Enforcement of Security Interest Act,2 (SARFAESI) is mandatory and cannot be waived in cases where the borrower challenges the action sale with respect to secured assets.
In...
Constitution bench decision will impact progress of arbitration
After delivering a pro-arbitration judgment in the case of NN Global Mercantile Pvt Ltd v M/s Indo Unique Flame Ltd and Ors, the Supreme Court referred the case to a constitution bench of the...
Reversing Vidarbha is good news for financial creditors
In July 2022 the Supreme Court, through its decision in Vidarbha Industries Power Limited v Axis Bank Limited, reversed the settled position on the initiation of the corporate insolvency resolution process (CIRP) for a corporate...
PE funds face challenges identifying beneficial owners
The significant beneficial owner (SBO) regime in India was introduced by the Companies Act 2013 (act), the Prevention of Money Laundering Act, 2002 (PMLA act) and associated rules. The framework followed recommendations from the...
CCI in paralysis
Government indecision on a major appointment to India's antitrust watchdog has left it in a regulatory limbo, unable to properly enforce or protect, Freny Patel reports.
The government’s failure to fill the empty chairman’s seat...
Mediation by necessity
With a disputes system in crisis in the country, mediation is the way forward, write Max Life Insurance legal experts Amit Wadhwa and Richa Relhan.
The development of a society comes with the unintended byproduct...
Deals of the year 2022
India Business Law Journal reveals the standout deals and disputes of 2022 and the law firms that showed their worth in successfully concluding them
Despite concerns of a resurgence in covid-19 cases at the beginning...
Future Legal Leaders 2023
What are the winning traits of lawyers that make them stand out to their clients and peers? Stanley Le reports
Access The List
This year’s search for Future Legal Leaders begins with the winning traits of...
Transborder reputation in India means you must be here
Global citizens and travellers extensively use online sites, social media and search engines to smooth their journeys and stays. Usually this involves no thought as to where any service provider is based or the...
Budget 2023: Proposed changes
Raghavan Ramabadran, Bharathi Krishnaprasad and Sahana Rajkumar of tax specialist law firm Lakshmikumaran & Sridharan discuss the significant amendments proposed in the budget
Apart from laying out the broad plans of the government in respect...
India’s stock regulator SEBI probes report claims against Adani
The Securities and Exchange Board of India (SEBI) has told the Supreme Court that it is investigating the Hindenburg Research report’s claims of financial irregularities among the Adani group of companies.
“As the matter is...
Man on a mission
With a relentless demeanour and the stamina to remain in the game for longer than an Indian test opener, Lalit Bhasin discusses the finer nuances of life, law and legacy with Gautam Kagalwala
He is...
When is interference possible under Arbitration Act?
The Supreme Court, in M/s Meenakshi Solar Power Pvt Ltd v M/s Abhyudaya Green Economic Zones Pvt Ltd and Ors, set aside the impugned judgment passed by the High Court of Telangana, which had...
Moving from dot-com courts to bot courts
Good law needs good judges. Good judges closely examine their powers to see whether they are able to provide a remedy for a clear wrong. A good judge is also imaginative, able to see...
Council overrides arbitration agreement under MSMED Act
The Supreme Court recently observed in the judgment of Gujarat State Civil Supplies Corporation v Mahakali Foods Pvt Ltd (delivered on 31 October 2022) that despite the existence of an independent arbitration agreement, any...
Green light for litigation despite stalled mediation
Section 12A of the Commercial Courts Act, 2015 (act), requires that mediation takes place before a suit can be filed unless urgent interim relief is sought. In the recent case of Kapil Goel v...
How to keep startup promoters on board
Finding the right share-based compensation structure for promoters of startups that, at the same time, protect the interests of financial investors is challenging. While the goal is the same, that is to keep promoters...
Opening doors
In-house counsel groups lobby for change
In the past two years, the in-house counsel community has been talking vocally about the need for statutory recognition for the profession. Industry groups, such as the General Counsel...
DSK gets eco zone clarification
DSK Legal advised and represented the Maharasthra chapter of the Confederation of Real Estate Developers’ Association (CREDAI-MCHI) before the Supreme Court in the matter of Godavarman Thirumulpad v Union of India & Ors, gaining...
IBC valuations may spike with proceeds of avoidable transactions
Insolvency and Bankruptcy Board of India (IBBI) data shows that, as of September 2022, creditors had realised INR2.43 trillion (USD29.97 billion) of the INR7.19 trillion claimed through the corporate insolvency resolution process (CIRP) under...
Tech companies favoured in issue of DR shares
The principle of one share, one vote was the gold standard of corporate governance in the 20th century. However, more elaborate capital structures, involving shares with differential rights, have gained global popularity over the...
Poison pills give immunity from hostile takeovers
While the term takeover is not formally defined, the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (takeover code), defines acquisition as “directly or indirectly, acquiring or agreeing to acquire shares or voting...
Debate on section 141 of NI act
The world of commercial transactions contains numerous unique intricacies, many of which are yet to be statutorily regulated. More particularly, the principle laid down in Section 141 of the Negotiable Instruments Act, 1881 (NI...
Deciding how material is an adverse event
The concepts of material adverse events (MAE) and material adverse changes (MAC) are widely incorporated into acquisition and investment documents. An MAE clause classically permits the acquirer to withdraw or walk away from a...
GCs fight for access
In 2022, it seems bizarre that in-house counsel may not carry a bar licence owing to an antiquated law that dates to the middle of last century. Freny Patel looks at the battle for...
Enforcing integrity
As the insolvency and bankruptcy board turns up the heat on insolvency practitioners, Karuna Sharma and Atul Malhotra examine the tools of inspection and investigation at their disposal to ensure compliance with the code
T...
DC Singhania: India loses a maker of legal history
Mr Duli Chand Singhania, founder of Singhania & Co, passed away on 29 November. Earlier that month, he had celebrated his 90th birthday with family and friends.
A prayer meeting, which took place at Chinmaya Mission...
Nandita Khurana leaves Michelin to establish independent practice
Michelin’s zonal legal head in India, Nandita Khurana, is moving on to set up an independent practice after a more than decade-long career with the tyre giant.
After working at Michelin for more than 14...
Former Uber legal head Mohit Abraham joins Sequoia India
Mohit Abraham, Uber's former director of regulatory affairs for North America, joined Sequoia India as chief legal officer in early November, succeeding Siddharth V Rao.
Before his move to Sequoia, Abraham was a legal aide...
Apple not falling far enough from the tree
In the recent case of Vinita Gupta v Amit Arora, the Delhi High Court considered the concept of semantic and conceptual similarity in dealing with two trademarks, Applestree and Appleplant. The courts have had...
Rainbow Papers judgment: Clouds loom over IBC
By recognising the state government as a secured creditor, the Rainbow Papers judgment exposes the Insolvency and Bankruptcy Code to incongruous uncertainty
Promulgation of the Insolvency and Bankruptcy Code, 2016 (IBC) brought much cheer to...
No automatic right to wages during insolvency resolution
There has been considerable discussion over whether salaries to employees should be treated as costs in the corporate insolvency resolution process (CIRP). If they are so regarded, those wages will assume priority over other...
Exclusion clauses may not exclude everything
An exclusion clause is a beneficial contractual arrangement made in anticipation of future contingencies that might hinder or prevent performance. Usually, parties to a contract exclude liability for certain types of losses, which may...
The future cost of deal valuation notifications
Antitrust regulators the world over have begun to reassess their regulatory frameworks after several high-value acquisitions of entities in the digital space were recently completed without merger control scrutiny. India is no different. Although...
Speed important in IBC but fairness more so
Recently, in Rathi Graphics Technologies Limited v Rajkumar Rathi & Ors, the National Company Law Tribunal (NCLT), relying on Supreme Court decisions and the report of the Bankruptcy Law Reform Committee, held that committees...
Supreme Court directive on ad hoc arbitrator fee
An arbitration between the Oil and Natural Gas Corporation (ONGC) and Afcons Gunanusa commenced in 2015, but a disagreement arose over the fee to arbitrators and who should decide the issue.
According to the parties’...