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A work in progress
Regulatory and contract enforcement challenges continue to cast a shadow on the infrastructure sector, writes Rebecca Abraham
The Indian government’s proposed spending on infrastructure hit a record high in February, with Finance Minister Arun Jaitley...
Case withdrawal rejected despite settlement agreement
In the case of Parker Hannifin India Private Limited v Prowess International Private Limited, the Kolkata bench of National Company Law Tribunal (NCLT) recently ruled on the aspect of withdrawal of an insolvency petition...
‘Estate planning’ needed as joint ventures may go awry
When a joint venture (JV) is set up between an Indian and an overseas company, both parties usually have a bullish view of things to come and an eagerness to get started with the...
Banking ordinance: Sound step or halfway measure?
The Banking Regulation (Amendment) Ordinance, 2017, was promulgated on 4 May to amend the Banking Regulation Act to give the Reserve Bank of India (RBI) powers to direct banks to refer certain borrowers into...
Vibrant dispute resolution key to inspiring confidence
A strong legal framework to ensure the timely resolution of commercial disputes will help attract foreign investments in India. Commercial disputes in India can be resolved either through litigation or alternative dispute resolution (ADR)...
Dynamism endures
Iqbal Khan and Natashaa Shroff at Shardul Amarchand Mangaldas analyse India’s PE landscape in 2017
In a global investment environment characterized by increasing policy uncertainty, the India investment story is a rare example of a...
Ease of doing business: myth or battle cry?
Centre-state differences undermine efforts to present India as a favourable commercial destination, argues PM Devaiah
While the great Indian juggernaut of liberalization chugs along, the never ending debate on improving the ease of doing business continues...
India in 2017
Four in-house counsel, a mediation specialist and partners at three law firms share their views on the developments that are likely to shape India’s business and legal climate in the coming year.
Privacy, data protection and...
Non-convertible debentures: Issues in private placement
Banks, non-banking financial companies, debt funds and companies are increasingly using the route of private placement of listed and unlisted non-convertible debentures (NCDs) to raise funds from players such as pension funds, insurance companies,...
Laying down laws
Mandira Kala, Aravind Gayam and Vatsal Khullar analyse the key bills pending in India’s parliament that would impact domestic and international businesses
The recently concluded session of the Indian parliament was highly productive. In addition to debating the budget and...
Burning ambition
The young talent poised to make a name for themselves
As the year draws to a close, India Business Law Journal conducted a survey inviting clients, peers and business leaders to nominate the young and...
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...
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...
Bouncing back
As business and travel edge back to normal after the pandemic, which foreign law firms are leading the field with their India offerings? Vandana Chatlani finds out
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F
ollowing a swift...
Indian Law Firm Awards 2022
Discover our other annual awards Award
In a celebration of hard work, ingenuity and excellence, India Business Law Journal reveals the winners of the 2022 Indian Law Firm Awards. Vandana Chatlani reports
In the past 12...
Insolvent financial service providers a class apart
When the Insolvency and Bankruptcy Code (IBC) was introduced in 2016, an exception was made under section 3(17) for financial service providers (FSP) to prevent them from being dragged into insolvency. The legislature has...
Deals of the Year
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Homebuyers versus lenders in fight for recovery
The enactment of the Real Estate (Regulation and Development) Act, 2016 (RERA), and the Insolvency and Bankruptcy Code, 2016 (IBC), were welcome reforms and well-received by stakeholders in the real estate industry including lenders...
Jury out on fate of cryptos, NFTs
India stands on the cusp of a cryptocurrency boom even as a 2021 bill may scupper opportunities while also affecting prospects for non-fungible tokens, which are traded in cryptos. Raghavan Ramabadran and Sai Prashanth define the instruments and...
Are states obligated to comply with GST Council recommendations?
The Goods and Services Tax (GST) regime was intended to create a uniform and harmonious nation-wide tax system. The union government and states have concurrent powers under article 246A (1) of the constitution to...
Obscurities relating to availability of ITC for covid-19 supplies
In the course of just a year, times have changed and we have journeyed from a sense of normalcy to absolute anomaly. The outbreak of the pandemic has brought the world to an abrupt...
Indian Law Firm Awards 2021
Discover our other annual awards Award
Vandana Chatlani reports
India has faced a terrible year battling the covid-19 pandemic. Companies and law firm offices shut shop. Homes were turned into work spaces, and lawyers relied on...
Refund of unutilised input tax credits now the norm
The Finance Act, 2021, amended section 16 of the Integrated Goods and Services Tax Act, 2017 (IGST act). This second article examines the amended section 16(3) and section 16(4) by way of which a...
Zero rating scheme gets controversial revamp
The Finance Act, 2021, amended section 16 of the Integrated Goods and Services Tax Act, 2017 (IGST act). This article examines the reasons for the amendments and explores their impact. There are significant ramifications to...
New agriculture laws: A win-win for businesses, farmers?
In September 2020, three controversial agricultural acts became law. They are the Farmers’ Produce Trade And Commerce (Promotion and Facilitation) Act, 2020 (Trading Act), the Farmers (Empowerment and Protection) Agreement on Price Assurance and...
Cometh the hour, cometh the fast-track merger
The National Company Law Tribunal (NCLT) is clogged with cases both under the Companies Act, 2013 (act), and the Insolvency and the Bankruptcy Code, 2016 (code). Pre-covid, each bench of the NCLT had some...
A cut above the rest
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Surviving a ‘new normal’
India Business Law Journal teamed up with prominent arbitrator Ashok Sharma and a stellar panel of GCs to debate how in-house legal teams should rise to the unprecedented challenges facing Indian companies in a...
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A perfect storm
The inevitable has happened
A previously unknown virus has jumped the species barrier from animal to human, and despite the public health community sounding the alarm for some time about just such a danger, the...
Pecking order
The significance of the insolvency code may be put into question if state governments do not observe the order of priority for creditors over a corporate debtor’s assets, write Arvind Varma and Amita Chohan
“The...
Remedies under CPA, RERA are concurrent
The Delhi High Court in a recent judgment held that remedies available to homebuyers under the Consumer Protection Act, 1986 (CPA), and Real Estate (Development and Regulation) Act, 2016 (RERA), are concurrent. This judgment...
Rebuilding trust
Maharashtra Real Estate Regulatory Authority chief Gautam Chatterjee talks to Gautam Kagalawala about the role of the regulator, challenges, friction with IBC and other regulations and stress in the state’s realty sector
The government introduced...
Leaders of the pack
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Parliament in numbers
Continuing our regular coverage of India’s parliamentary sessions, Mandira Kala assesses the performance of the Lok Sabha in the past five years compared with the two previous terms
The 2019 budget session of India's parliament...
NCLAT: case pending under negotiable instruments act not a dispute
The National Company Law Appellate Tribunal (NCLAT) recently held that if a case is pending under section 138/141 of the Negotiable Instruments Act, 1881 (NIA), it cannot be held to be a dispute pending...
IBC amendment gives voice to beleaguered homebuyers
The recent amendment to the Insolvency and Bankruptcy Code 2016 (IBC) has created a special status for the homebuyers as “financial creditors” with effect from 6 June 2018. The amendment was brought into force...
Deals of the Year 2017
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Bustling market
Liberalization and reforms fuel record-breaking M&A activity, writes Nandini Lakshman
The year 2016 saw a swell in the number of India-related mergers and acquisitions thanks to a series of changes. A more liberalized foreign direct...
On the cards
Rudra Kumar Pandey and Bani Brar forecast emerging regulatory trends and opportunities for in-house counsel to be business leaders.
The International Monetary Fund in its recent report (October 2016) forecasted that India would continue to...
Asset reconstruction: Are latest amendments enough?
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), was enacted to allow for the registration and regulation of asset reconstruction companies (ARCs) by the Reserve Bank of...
Asian ambition
João Ribeiro has built the United Nations Commission on International Trade Law’s regional centre for Asia and the Pacific from an ambitious pilot scheme into a respected institution, assisting nations in developing sound legal...
New hope for creditors
Can the latest legislative attempt to improve India’s abysmal debt recovery rates succeed where others have failed? Rebecca Abraham reports
Winding up an ailing company in India is not for the faint-hearted. It can take more...
Cooking up a storm?
Many will be unimpressed by the cacophony of voices that accompany the budget
But what of the halwa-making ritual that kicks off the process? This curious culinary exercise, which is presumably held deep in the...
Funds in flux
Regulatory hurdles may be less daunting than other problems plaguing private equity investors, Rebecca Abraham reports
In September 2015, Baring Private Equity Asia acquired India’s largest cash management company, CMS Info Systems. The deal was significant...
Rebuilding trust in the system
“If you are in trouble you should show that you care by cutting down your expenses”
Sensible advice from the governor of India’s central bank, Raghuram Rajan, directed at errant borrowers across the country who...
The pioneers
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