The insolvency of Binani Cements has triggered a number of legal issues involving the Insolvency and Bankruptcy Code, 2016. One of those relates to the manner in which the resolution plan has to be approved and implemented, especially in the context where a number of plans have been proposed. In this case, the company entered the insolvency process, following which the committee of creditors...
Arbitrability of Oppression and Mismanagement – Rakesh Malhotra & After
[Deepanshi Ahlawat is a 5th year B.A., L.L.B. (Hons.) student at National Law School of India University in Bangalore. Earlier posts on the topic are available here, here and here] Introduction Oppression and mismanagement (“O&M”) disputes in India are governed by sections 241 & 242 of the Companies Act, 2013 (“2013 Act”) [analogous to sections 397, 398 & 402 of the Companies Act...
Of Harmony and Interference: Delhi High Court Sets Aside Award for Arbitrator’s Erroneous Interpretation of Contract
[Ritvik M. Kulkarni is an associate with Wadia Ghandy & Co., Mumbai. Views are strictly personal] In Altus Group India Pvt. Ltd. v. Darrameks Hotels and Developers Pvt. Ltd., the Delhi High Court has set aside an arbitral award (the Award) after finding folly in the arbitrator’s interpretation of the termination clause contained in a ‘Professional Service Agreement for the appointment of a...
Uber v. Waymo and Lessons for Trade Secret Protection for Companies
[Swrang Varma is a 4th Year BB.A. LL.B. (Hons.) student at the University School of Law & Legal Studies, Guru Gobind Singh Indraprastha University] Introduction More than a century has elapsed since the establishment of the theory of the separate juristic personality of a corporation. Be that as it may, a corporation still functions through human innovation. The unique competitive edge that...
Papers on Comparative Corporate Law and Governance in Asia
Hostile Takeover Regimes in Asia: A Comparative Approach, which I have co-authored with Wai Yee Wan. The abstract is as follows: “The market for corporate control (operating through hostile takeovers) acts as a key corporate governance mechanism to discipline corporate managers. However, the process and substance of regulating hostile takeovers differs remarkably among various jurisdictions...
The Silences of Section 26 of the Arbitration (Amendment) Act, 2015: Has the Supreme Court Answered?
[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] The Arbitration and Conciliation (Amendment) Act, 2015 (Amendment) brought about several much awaited amendments to the Arbitration and Conciliation Act, 1996 (Act). However, section 26 of the Amendment, which delineates its temporal scope, has been the source of...
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