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Retrospective Termination of Sole Arbitrator: A Move Uncalled For?

[Prince Todi is a III year B.A. LL.B. (Hons.) student at Hidayatullah National Law University, Raipur, Chattisgarh] On 20 January 2020, the Delhi High Court in held that the unilateral appointment of a sole arbitrator by an authority interested in the outcome of the dispute is impermissible. While the same principle has been laid down by the Supreme Court in earlier decisions of Perkins and TRF...

SEBI Portfolio Management Regulations, 2020: Towards an Investor Friendly Regime

[Anukrati Mishra is a final year B.A. LLB (Business Law Hons) student at Institute of Law, Nirma University, Ahmedabad] On 16 January 2020, the Securities and Exchange Board of India (SEBI) undertook the first overhaul of the regulations governing portfolio management services (PMS) in over two decades by issuing the SEBI (Portfolio Managers) Regulations, 2020. The new regulations have been...

Budget 2020: What’s there for the Real Estate Sector?

[Akash Kumar Prasad is a fourth-year student at NALSAR University of Law, Hyderabad] The Union Budget 2020-21 was presented on February 1, 2020 by the Finance Minister Nirmala Sitharaman. Amidst sharp decline in the economy, the Union Budget was awaited with great expectations to foster growth in the real estate sector. However, with no major announcement for catalysing the same, the Budget fell...

India’s Insider Trading Regime: How Connected Are You?

[Prateek Bhattacharya is an Assistant Professor and Assistant Dean (Scholarships), Jindal Global Law School, O.P. Jindal Global University.] ‘Insider trading’ refers to the illegal buying or selling of a security in breach of a fiduciary duty or other relationship of trust. Such sale of a share or security is carried out on the basis of material non-public information (the term used in the United...

Whether a Section 11 Application can be Dismissed on the Grounds of Limitation?

[Piyush Rathi is a 4th Year B.A. L.L.B student at NALSAR University of Law] The Supreme Court in Uttarakhand Purv Sainik Kalyan Nigam Limited v Northern Coal Field Limited (27 November 2019) obtained a chance to expand on the jurisprudence relating to the approach of ‘minimal intervention of courts in arbitral process‘ taken by the legislature. The issue faced by the Supreme Court was...

The Gig Is Up – Redefining Employment for Platform Workers

[Shreya Bhatnagar and Aatman Shukla are students of B.A. LL.B. (Hons.) at National Law University Delhi] Today, one of the greatest drivers of the ‘on-demand employment’ economy has been the rise of platform-based apps such as UberWorks or UrbanClap, which have replaced traditional paper-applications and references for seeking employment. Such platform-based apps have eliminated the ‘employer’ as...

Safeguarding Promoters’ Interest in Insolvent Companies: Recent Judgments of the NCLAT

[Soham Chakraborty is a II year, BA LLB (Hons.) student at NALSAR University of Law, Hyderabad] A series of judgments of the National Company Law Appellate Tribunal (“NCLAT”), as discussed herein, have led to some important developments regarding the rights of promoters when it comes to regaining control of their company under the Insolvency and Bankruptcy Code, 2016 (“the Code”). These judgments...

NCLAT’s Ruling on Exclusion of Lease and Rental Operational Debt

[Chetan Saxena is a 4th-year student from the Institute of Law, Nirma University, Ahmedabad] The National Company Law Appellate Tribunal (NCLAT) in Ravindranath Reddy v. G. Kishan (17 January 2020) held that rental dues arising out of a lease agreement do not fall under the definition of “operational debt” under section 5(21) of the Insolvency and Bankruptcy Code, 2016 (IBC). The determination of...

SEBI Guidelines for Rights Issue of REIT Units

[Rongeet Poddar is a 5th year student at the West Bengal National University of Juridical Sciences] Real Estate Investment Trusts (REIT) can be defined as entities that own properties in the real estate sector and finance their development. Structurally, a REIT is identical to an ordinary trust. The real estate properties are owned by the REIT. Companies or limited liability partnerships (LLPs)...

The Limits of Comity: Refusal to Recognise Foreign Insolvency Proceedings

[Aditi Mozika is a IV year B.Sc. LL.B. (Hons.) student at Gujarat National Law University] The recent decision of the National Company Law Appellate Tribunal (NCLAT) in the Jet Airways case has ushered in the era of cross border insolvency in India.[1] Accordingly, the Resolution Professional and the Dutch Trustee – the administrator in bankruptcy of Jet Airways appointed by the Dutch...

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