A previous post had noted that the Madras High Court has recently upheld the legality of the so-called exotic derivatives, holding that they qualify for recovery through the Debt Recovery Tribunal. The following is an analysis of that judgment – Rajshree Sugars & Chemicals v. Axis Bank Ltd. (MANU/TN/0893/2008, C.S. No. 240 of 2008, decided on 14 October 2008). The well-reasoned and...
Bill for Overhauling the Insurance Sector
When debates raged as to the pros and cons of the 123 Agreement on nuclear fuel between India and the U.S., little was it known that its conclusion would benefit the unlikeliest of sectors in the Indian industry. While attention focussed on the fillip it would provide to the Indian energy sector, the political ramifications of the deal, with the departure of the Left, have led to benefits far...
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