ArchiveApril 2019

Announcement: The NLSIU IPR-Technology Law Essay Competition

[Announcement on behalf of the Law and Technology Society, National Law School of India University, Bangalore] The Law and Technology Society and the Centre for Intellectual Property Research and Advocacy (CIPRA), National Law School of India University, Bangalore are pleased to announce the ‘The NLSIU IPR-Technology Law Essay Competition’. This is open to all undergraduate students...

Objective Justification in Abuse of Dominance Cases in India

[Basu Chandola is a BBA LLB graduate (batch of 2018) from the National Law University Odisha. The concept of objective justification provides that a dominant enterprise will not be abusing its dominant position if it can provide a justification for its conduct. Though the concept is well-accepted in the European Union, its position in Indian competition law is ambiguous. This post seeks to...

Schemes of Arrangement in Liquidation: A New Ray of Hope?

[Vinod Kothari is an insolvency practitioner at Vinod Kothari & Co and can be reached at [email protected] An earlier post on the topic is available here.]  The recent rulings of appellate judicial and quasi-judicial authorities in India permitting the pursuit of schemes of arrangement even after initiation of liquidation proceedings may have sounded surprising to many. However...

Supreme Court on Arbitration Agreement in an Unstamped Instrument

[Mansi Patel is a Partner, SRA Consulere, Advocates] In Garware Wall Ropes v Coastal Marine Constructions & Engineering Ltd (10 April 2019), the Supreme Court held that an arbitration agreement in an unstamped instrument does not exist in law; thus it cannot be acted upon by courts for the appointment of an arbitrator under section 11 of the Arbitration and Conciliation Act, 1996. By this...

The Resurgence of Schemes of Arrangement in Insolvency and Liquidation

Schemes of arrangement have historically been available under Indian company law as a means to carry out corporate debt restructuring. However, as I have found in this paper, schemes were hardly used for this purpose in India. The enactment of the Insolvency and Bankruptcy Code, 2016 (IBC) and the implementation of the corporate insolvency resolution process (CIRP) therein were expected to...

Preclusive effect of Res Judicata in International Commercial Arbitration: A Baffling Syndrome

[Prabhakar Yadav is a III Year student pursuing B.A.LL.B. (Hons.) at the National Law School of India University, Bangalore] The doctrine of res judicata is a potent tool for any legal order which aims to achieve efficiency and consistency in the judicial administration. This objective is achieved by the fact that res judicata buries disputes to rest by creating a preclusive effect of prior...

Supreme Court on the Relationship between Insolvency and Winding-up Proceedings

[Akhil Kumar is a Fourth Year BA LLB (Hons.) student and Ayushi Singh a Third Year BA LLB (Hons.) student at NUALS, Kochi] The Insolvency and Bankruptcy Code, 2016 has amended several provisions of the Companies Act, 2013 through the eleventh schedule of the Code. This has, on a few occasions, led to several uncertainties regarding the application of the amended provisions to various company...

Treatment of Employment Benefits under the Insolvency and Bankruptcy Code, 2016

[Medha Rao is an Advocate based in Bengaluru] Following the reasoning of the National Company Law Tribunal (NCLT), Mumbai in Asset Reconstruction Company (India) Limited v. Precision Fasteners Ltd. [‘Precision’], the NCLT, Delhi in Alchemist Asset Reconstruction Co. Ltd. v. Moser Baer India Limited [‘Alchemist’] has also held that the dues owed to workmen from provident fund, gratuity fund, and...

Supreme Court on RBI’s Circular Relating to Insolvency: A Critical Analysis

[Rishabh Sant Tiwari is a 5th year B.A. LL.B. (Business Law Honours) student at National Law University, Jodhpur, India] The 12 February 2018 circular of the Reserve Bank of India (RBI) was assailed as ultra vires the powers given to it under the Banking Regulation Act, 1949 and the Reserve Bank of India Act, 1934 in Dharani Sugars and Chemicals Ltd. v. Union of India. The Challenge Curious Case...

Voluntary Retention Route for Foreign Portfolio Investors

[Bhawana Keshwani is a student at Law College Dehradun, Faculty of Uttaranchal University] In March 2019, the Reserve Bank of India (RBI) along with Government of India and the Securities and Exchange Board of India (SEBI) introduced a new window called “Voluntary Retention Route” to encourage Foreign Portfolio Investors (FPI) to lock their investments in India for a considerable period. This...

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