Blog Posts
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Rejection of Resolution Plan: Review of Judgment?
[Aditya Vaid is a penultimate year law student at Jindal Global Law School] The recent landmark Supreme Court judgment in the case of Kalyani Transco v. Bhushan Power and Steel Limitedrepresents a significant milestone in India’s insolvency regime. On May 2, 2025, the Supreme Court set aside JSW Steel Ltd.’s (“JSW Steel”) resolution plan for Bhushan Power and Steel…
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Modifying Arbitral Awards: Is Balasamy a Cure Worse than the Disease?
[Pallav Mongia is a dual-qualified lawyer, and an empanelled arbitrator, practising before the Supreme Court and Delhi High Court and Prince Todi is an advocate practising before the Supreme Court and Bombay High Court] After a stream of divergent and contrasting judicial precedents on whether Indian courts are jurisdictionally empowered to modify arbitral awards, a five-judge Constitution Bench of…
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Accelerating Fast Track Mergers: Ministry Proposes Wider Eligibility
[Esha Rathi is an associate at a law firm’s Mumbai office] Mergers are a common tool for corporate restructuring. However, securing approval from the National Company Law Tribunal (“NCLT”) can often be a lengthy and complex process. To streamline such transactions, section 233 of the Companies Act, 2013 introduces a fast track merger (“FTM”) route, allowing certain classes…
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Rediscovering India’s Century-old Clarity on Stipulated Damages
[Amoga Krishnan. R is an Advocate] In Cavendish Square Holding BV v. Talal El Makdessi (2015), the United Kingdom Supreme Court eliminated the dichotomy between “genuine pre-estimates” and “penalties” in common law and, with that, recast the contours of the penalty rule. Until then, the reason for the dichotomy at common law between penalties and liquidated damages (“LD”)…
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Rewriting the Rules: Why India Must Embrace Unilateral Option Clauses in Arbitration
[Rishab Chand and Rachit Prakash Mathur are 4th year students at the National Law School of India University, Bangalore] The recent Bombay High Court decision in Tata Capital Ltd. v. Vijay Devji Aiya has reignited the debate on the validity of Unilateral Option Clauses (“UOCs”) in arbitration agreements. While the Court held that UOCs are incompatible with principles of fairness and…
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Ministerial, Not Managerial: SAT Limits Compliance Officer Liability in V. Shankar
[Aadya Narain is a B.A. LL.B. (Hons.) student at Jindal Global Law School] On 5 May 2025, the Securities Appellate Tribunal (“SAT”) in V. Shankar v SEBI addressed a critical and controversial question: can a compliance officer be held personally liable for fraudulent disclosures and statutory violations committed by the board of directors of a listed company? The…
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Interpreting Post-Award Interest: Between Statutory Silence and Judicial Pragmatism
[Vriddhi Galada is a 3rd-year student at Hidayatullah National Law University, Raipur] Arbitration is an ever-evolving field, continually shaped by judicial interpretation and legislative amendments to meet the demand of modern dispute resolution. The Arbitration and Conciliation Act, 1996 (“the Act”) was enacted with the objective of determining and limiting the scope of judicial intervention in arbitration proceedings and…
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Breaking Down Break Fees: Regulatory Trends and Legal Perspectives on Deal Protections in M&A
[Arjim Jain and Shruti Asati are 5th Year B.A., LL.B. (Hons.) students at National Law University, Odisha] On May 5, 2025, Singapore’s Securities Industry Council (“SIC”) released a consultation paper proposing significant amendments to the Singapore Code on Takeovers and Mergers, with a sharp focus on regulating deal protection measures—especially break fees. The proposal seeks to generally prohibit break fees unless…
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Evolving Concept of Bailment in Digital Age: Indian Contract Law and Cloud Liens
[Tamanna Yadav is a student at NALSAR University of Law, Hyderabad] In March 2025, the Vuenow Group of Companies, a purported cloud service provider, sold cloud storage units, termed “cloud particles”, worth ₹3,558 crore, luring investors with promises of high returns through a lease-back model. However, the entire scheme was fraudulent. There was no actual cloud…