[Abhinav Sankaranarayanan is a III year B.A.L.L.B (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata (WBNUJS)] Background On 28 February 2019, a Division Bench of the Supreme Court in Vidya Drolia v. Durga Trading Corporation revisited the convoluted jurisprudence surrounding the arbitrability of disputes governed by the provisions of the Transfer of Property...
Food Combos: Whether Single-Brand or Multi-Brand Retailing?
[Akhil Kumar is a fourth year BA LLB (Hons.) student and Ayushi Singh a third year BA LLB (Hons.) student at NUALS, Kochi] Single and Multi-Brand Retail Trading According to paragraph 5.2.1. of the Foreign Direct Investment Policy (“Policy”), foreign direct investment (“FDI”) in the manufacturing sector is permitted in India under the automatic route. Further, a manufacturer is permitted to sell...
Consideration of Improved Financial Offer in the Insolvency Resolution Process
[Varsha Gupta is a 4th-year law student at the School of Law, UPES, Dehradun] Introduction After the approval of the resolution plan of JSW Steel in the Bhushan Power & Steel Limited, Tata Steel Limited, one of the resolution applicants challenged the submission of an improved financial offer. In Tata Steel Limited v. Liberty House Group Pte. Ltd., Tata Steel Limited argued that the National...
Jaiprakash Associates Case: A Throwback to Judicial Interference in the Arbitral Process?
[Rishabh Malaviya is an Advocate at Arista Chambers, Bangalore] The Supreme Court’s recent decision in Jaiprakash Associates Ltd. v. Tehri Hydro Development Corporation India Ltd. (2019 SCC OnLine SC 143) discussed the scope of an arbitral tribunal’s power to award pendente lite interest. While the decision only reiterates the position of law laid down in several previous cases, the approach...
Double Claim by a Creditor
[Richa Saraf is a Legal Advisor at Vinod Kothari & Co.] In Dr. Vishnu Kumar Agarwal v. Piramal Enterprises Ltd. (January 2019), the National Company Law Appellate Tribunal (NCLAT) held that multiple applications for initiation of corporate insolvency resolution process for the very same debt or claim is not permissible. Now, consider a situation where Company A (guarantor) has guaranteed the...
Delhi High Court on Determining Ineligibility of an Arbitrator
[Kishan Gupta is a 4th Year B.A.LLB (Hons.) Student at Dr. RML National Law University, Lucknow] By the introduction of the 2015 amendment to the Arbitration and Conciliation Act, 1996, the standard of reviewing the independence and impartiality of arbitrators has become more stringent. As it now stands, the Act contains two schedules detailing the grounds: (a) that might give rise to justifiable...
Do the Companies (Significant Beneficial Owners) Amendment Rules, 2019 Narrow the Scope of these Rules?
[Aditi Tomar is a 4th Year B.A.LLB (Hons.) Student at NALSAR University of Law, Hyderabad] The Companies (Significant Beneficial Owners) Rules, 2018 (“Rules”), which were notified on 14 June 2018, aimed to trace the ultimate individual or natural person who holds beneficial interest, i.e., exercises rights and entitlements in the company, by looking through the complex layers of the corporate...
Arbitrability of IP Disputes in India: Lessons from Hong Kong
[Chandni Ghatak is a final year B.A. LL.B (IPR Hons.) student at the National Law University, Jodhpur] India has constantly been making attempts to emerge as a pro-arbitration hub in Asia. While many of these attempts are laudable, a contentious issue that persists is the confusion prevailing over arbitrability of certain kinds of disputes. One such category of disputes is where the subject...
Relief for Distressed under the Insolvency & Bankruptcy Code
[Utkarsh Jhingan is a fourth year BA LLB (Hons.) student and Rakshit Raj Singh a third year BA LLB (Hons.) student at NUALS, Kochi] India’s corporate sector debt has become a cause for concern as the mounting debts of major companies are at an unsustainable level. In recent years some of the companies have been entangled in a debt trap as their debt payment requirements have grown at a higher...
Call for Submissions: NLUJ Law Review
[Announcement from the NLUJ Law Review] About the Review The NLUJ Law Review is the flagship journal of National Law University, Jodhpur, established with the objective of promoting academic research and fostering debate on contemporary legal issues in India. It is a bi-annual, double-blind student reviewed and edited journal focusing on an inter-disciplinary approach towards legal writing. The...
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