ArchiveApril 2019

Ordinance to Ban Unregulated Deposit Schemes: Bridging the Regulatory Gap

[Anirban Roy Choudhury is a banking and finance lawyer and an LL.M. (Finance) candidate at the Institute for Law and Finance, Goethe University Frankfurt]   In spite of various legislation, including the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and the Chit Funds Act, 1982, being in place throughout the last few decades, various entities regularly lured the unwary public with...

Consumer Protection and Payment Wallets – A Case for Tech-based Intervention

[Debanshu Mukherjee heads the Corporate Law and Financial Regulation vertical at the Vidhi Centre for Legal Policy, a New Delhi based independent think-tank. Shehnaz Ahmed is a Senior Resident Fellow at the Vidhi Centre for Legal Policy. Param Pandya is a Research Fellow at the Vidhi Centre for Legal Policy. An expanded version of this post has appeared in the Oxford Business Law Blog]...

Demystifying the Nature of Loan Defaults: Reasoning of the Supreme Court

[Jai Shanker Bajpai and Aastha Bidsar are students at School of Law, University of Petroleum and Energy Studies, Dehradun] The difference between breach of contract and cheating under section 415 of the Indian Penal Code, 1860 (“IPC”) is a fine one. It is due to this fine line that errors are sometimes committed in interpreting the demarcated difference. Earlier this year, in Satishchandra...

Call for Papers: ‘Revamping Competition Law in India’

[Announcement on behalf of the Centre for Competition Law and Policy, NUALS Kochi] The Centre for Competition Law and Policy (CCLP) is a Research Centre, being part of the National University of Advanced Legal Studies, Kochi (NUALS Kochi). The primary vision of the Centre is to encourage study and research in competition law and policy. It also focuses on disseminating ideas and promoting...

Summer School on the Insolvency and Bankruptcy Code, 2016

[The following is an announcement on behalf of Umang Foundation] About Summer School on the Insolvency and Bankruptcy Code, 2016 Umang Foundation Summer School, New Delhi 2019 is the first edition of the Summer School organized by Umang Foundation in association with NILS India. The Summer School will be organized at Jawaharlal Nehru University, New Delhi from June 29 to July 4. Our Knowledge...

The Binani Cements Case: Internal Governance at the Stage of Insolvency Resolution

[Priya Garg is a 5th year student at West Bengal National University of Juridical Sciences (WBNUJS), Kolkata] In this post, I view the Binani Cement case from the lens of an organisational governance enthusiast. I thereby highlight the lacuna that exist under the Insolvency and Bankruptcy Code, 2016 (IBC) towards ensuring that good internal governance practices are followed at the stage of...

RBI’s Circular Invalidated: A Potential Watershed Moment in the Indian Insolvency Regime

[Saurav Roy is a final-year law student [V B.A.LL.B] at ILS Law College, Pune] On 2 April 2019, a Supreme Court bench of Justice Rohinton Nariman and Justice Vineet Saran delivered a landmark judgement in the case of Dharani Sugars and Chemicals Ltd. v. Union of India which deals with the pertinent issue of a controversial circular issued on 12 February 2018 titled “Resolution of Stressed Assets...

Identifying The Arbitral Seat From Ambiguous Dispute Settlement Clauses—Has Supreme Court Muddied The Waters?

[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] The choice of the arbitral seat is fundamental to arbitration. The seat determines the lex arbitri as well as the courts that exercise supervisory jurisdiction over the arbitration. Although the distinction between the ‘venue’ and ‘seat’ of arbitration is well...

Call for Papers: NALSAR Student Law Review

[Announcement from the NALSAR Student Law Review] The NALSAR Student Law Review (NSLR) is now accepting submissions for its upcoming Volume XIV. NSLR is an annual, student-edited, peer-reviewed law review that is the flagship publication of NALSAR University of Law, Hyderabad, India. With a collaborative system of review and publication process, we remain committed to encouraging and enhancing...

Section 6(2a) of the Competition Act: The Invalidity Cloak

[Siddarth P. Chokkalingam is a 4th year student of the National Law School of India University, Bangalore] Section 6(2A) of the Competition Act, 2002 has been interpreted by the Competition Commission of India as well as the Supreme Court to impose standstill obligations on the parties, refraining them from consummating any combination, until the expiry of the 210 days mentioned therein or until...

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