[Samarth Chaudhari is a final year LL.B. student at Jindal Global Law School, Sonipat] Cryptocurrencies, derived from the innovation of blockchain technology, can function as a reliable online payment method with several benefits.[1] However, the Reserve Bank of India (RBI) has unambiguously prohibited all financial institutions regulated by it from dealing in cryptocurrencies and its related...
SEBI’s Framework for Innovation Sandbox – Infusing FinTech into India’s Securities Markets
[Mansi Mishra is a 2nd year B.A.LL.B. (Hons) student at National Law Institute University, Bhopal] The Securities and Exchange Board of India (SEBI), amidst much speculation in the securities market, proposed the “Framework for Innovation Sandbox” by way of its circular dated 20 May 2019. This post seeks to analyse the key proposals of the SEBI framework and to highlight the takeaways for the...
Trade Union as Operational Creditor: The Conundrum of Purposive Interpretation
[Vishal Hablani is a 4th year B.A.L.L.B. (Hons.) student at WBNUJS, Kolkata] Recently a judgment was passed by the Supreme Court in JK Jute Mill Mazdoor Morch v. Juggilal Kamlapat Jute Mills Company Ltd., wherein it was observed that a trade union could file an application in the capacity of an operational creditor, on behalf of workmen, for initiating the corporate insolvency resolution process...
Jurisdiction of Adjudicating Authorities over the Rejection of a Resolution Plan
[Piyush Rathi is a 4th year B.A. L.L.B student at NALSAR University of Law] Earlier this year in K. Sashidar v Indian Overseas Bank, the Supreme Court held that the adjudicating authorities, i.e., the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) have no jurisdiction or authority to analyse or evaluate the commercial decision of the Committee of...
The CoC Stalemate: Issue of Voting Thresholds and the Way Forward
[Shubham Kumar is a student from Hidayatullah National Law University, Raipur Ayushi Tiwari from Dr. Ram Manohar Lohia National Law University, Lucknow. Both are in their 3rd year B.A. LL.B.] The preamble of the Insolvency and Bankruptcy Code, 2016 (IBC) states that the objective of the IBC is to promote resolution over liquidation. Keeping the said objective in mind, the interpretation of...
Bombay High Court Cements the Continuing Jurisdiction of Arbitration-Seat Court during Enforcement
[Parimal Kashyap is a third year B.A., LL.B (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow] Is an arbitral award synonymous to the decree of a court? A reading of section 36 of the Arbitration and Conciliation Act 1996 may suggest a positive answer. The provision dealing with enforcement of domestic awards reads: 36. Enforcement.—(1) Where the time for making an...
Announcement: 16th Consilience Conference at NLSIU, Bangalore
[Announcement on behalf of the Law and Technology Society, NLSIU Bangalore] The Law and Technology Society is pleased to host the 16th Consilience Conference on “Intermediary Liability and Content Regulation: Principles, Perspective and Solutions” on 25th May at the university campus in Bangalore. The objective of this year’s conference is to bring together experts from diverse backgrounds...
Chief Risk Officer: Strengthening Risk Management Practices
[Kanakprabha Jethani is with Vinod Kothari Consultants Private Limited] The Reserve Bank of India (RBI) issued a notification on 16 May 2019 requiring non-banking finance companies (NBFCs) having an asset-size exceeding the prescribed threshold to appoint a Chief Risk Officer (CRO) with clear roles and responsibilities to oversee their risk management practices. The CRO shall be required to...
LLM Program in Financial Regulation
[Announcement from the Kirit P. Mehta School of Law] The Indian financial regulatory landscape has seen rapid change in the last decade. From the merger of two financial sector regulators to the evolution of an entirely new ‘fintech’ space, the enactment of the Insolvency and Bankruptcy Code, 2016 which affects firms in the business of lending, the growing sophistication of rules on insider...
Bombay High Court on the Fate of Digital Music Streaming and Downloading Applications
[Tanya Varshney is a 4th year B.A. LLB. (Hons) student at Jindal Global Law School] The Bombay High Court pronounces another judgement changing the fate of online music streaming and downloading services. In Tips Industries Ltd. v. Wynk Music Ltd., Justice Kathawalla provides an interpretation of the provisions of the Copyright Act in the context of digital streaming and downloading of music...
Recent Comments