[Divyansha Agrawal is a B.A.LLB (Hons.) student at Jindal Global Law School] Introduction According to the principle of competence-competence, an arbitral tribunal in a given case has full authority to rule on its own jurisdiction. Articles 8 and 16 of the UNCITRAL Model Law re-affirm this principle. Article 16(3) of Model Law provides that the arbitral tribunal may rule on an...
Whether a Refund of Advance is an Operational Debt
[Richa Saraf and Shreya Jain are with Vinod Kothari Consultants Pvt. Ltd.] It is not an unusual business practice to collect advance monies from consumers before providing goods or services to them. In such a scenario, consumers constantly bear the risk of not being able to recover the advance amount in the event the provider of goods or services abruptly ceases operations and, as such, also...
Recent Comments