ArchiveJune 2019

Computing Price Adjustment in Construction Contracts: The Limited Scope for Setting Aside an Arbitral Award

[Zacarias Kanjirath Joseph is a dispute resolution lawyer based in Bombay. He may be contacted at [email protected] The views expressed in this piece are personal] A division bench of the Supreme Court of India in its judgment dated 8 May 2019 in Ssangyong Engineering & Construction Co. Ltd. v. National Highways Authority of India set aside an award of an arbitral tribunal, which...

SAT Order: Stock Exchanges not to Follow SEBI’s Circulars and Directions Mechanically

[Anand Narayan is a corporate and securities lawyer currently working as an in-house counsel in Mumbai] One has lately witnessed a trend that the stock exchanges, such as NSE, BSE and NCDEX, are following the circulars and directions issued by the Securities and Exchange Board of India (SEBI) mechanically without application of mind, which has not gone down well with the market participants. Much...

Can the High Court Extend the Mandate of Arbitrator under International Commercial Arbitration?

[Suprabh Garg is a III Year BA LLB (Hons.) student at the National Law University Odisha] Provisions for Extension of Mandate of Arbitrator(s) Section 29-A-(1) of the Arbitration and Conciliation Act, 1996 provides that an arbitration award must be made by the arbitral tribunal within a period of twelve months from the date upon which the arbitral tribunal ‘enters upon reference’, i.e. the date...

Call for Papers: Indian Journal of International Economic Law

[Announcement on behalf of the Indian Journal of International Economic Law (IJIEL)] About the Journal The IJIEL is a student-edited and peer-reviewed law journal published annually by National Law School of India University, Bangalore (NLSIU). The previous volume of the journal featured contributions by Prof. Raj Bhala (Rice Distinguished Professor, Associate Dean for International and...

Competition Commission of India: Emerging Appellate Body for the Sectoral Regulators

[Bhaskar Simha L. N. and Sumit Jain are currently working with the Centre for Competition Law and Economics (CCLE)] The Competition Commission of India (CCI) was established by the Competition Act, 2002 to promote and sustain competition in the Indian market. The said piece of legislation drew no distinction for sectoral regulators and allowed the CCI to look into every domain, barring sovereign...

Call for Papers: NLIU Law Review

[Announcement on behalf of the NLIU Law Review] The NLIU Law Review is the flagship law journal of the National Law Institute University, Bhopal. It is a bi-annual, student-edited law journal with an aim to promote a culture of scholarly research and academic writing among students by publishing articles on subjects of interest to the legal profession and academia.  This year, the NLIU Law Review...

Position of Accredited Investors in India within SEBI’s Framework

[Shreshtha Mathur and Chahak Agarwal are fourth year law students at National Law University, Jodhpur] The Securities and Exchange Board of India (SEBI) on 22 May 2019 released the “Framework for the process of accreditation of investors for the purpose of Innovators Growth Platform”. It seeks to provide a boost to entities seeking to get listed on the Innovators Growth Platform (IGP), the stock...

Anti-trust and E-commerce: Impact of the 2018 FDI Policy Review

[Anand Nandakumar is a final year BA LLB (Hons.) student at the National University of Advanced Legal Studies, Kochi] On May 31 2019, the US President signed the Presidential Proclamation that would terminate India from the list of beneficiary developing countries to the US Generalized System of Preferences (GSP).  The Proclamation states that the termination was a result of India’s failure to...

Reassessment Proceedings under the Income Tax Act: Assessing Officer’s “Reason to Believe”

[Amrit Singh is a fourth-year B.A., LL.B. (Hons.) student at Institute of Law, Nirma University] According to section 2(9) of the Income Tax Act 1961, the term “assessment year” means the period of twelve months commencing on the 1st day of April every year. Reassessment means reopening the already completed assessment on fulfilment of certain conditions to reassess the total income of the...

Insider Trading: Will the Informant Mechanism be Effective?

[Sakshi Ajmera is a 2nd year B.A.LL.B. (Hons.) student at the National Law Institute University, Bhopal] The Securities and Exchange Board of India (SEBI) on 10 June 2019 proposed an ‘informant mechanism’ to safeguard the interests of the investors and limit insider trading. In light of the difficulty in tracking illegal transactions, SEBI has released a discussion paper, which could be...

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