[Akhil Kumar is a Fourth Year BA LLB (Hons.) student and Ayushi Singh a Third Year BA LLB (Hons.) student at NUALS, Kochi] The Insolvency and Bankruptcy Code, 2016 has amended several provisions of the Companies Act, 2013 through the eleventh schedule of the Code. This has, on a few occasions, led to several uncertainties regarding the application of the amended provisions to various company...
Treatment of Employment Benefits under the Insolvency and Bankruptcy Code, 2016
[Medha Rao is an Advocate based in Bengaluru] Following the reasoning of the National Company Law Tribunal (NCLT), Mumbai in Asset Reconstruction Company (India) Limited v. Precision Fasteners Ltd. [‘Precision’], the NCLT, Delhi in Alchemist Asset Reconstruction Co. Ltd. v. Moser Baer India Limited [‘Alchemist’] has also held that the dues owed to workmen from provident fund, gratuity fund, and...
Supreme Court on RBI’s Circular Relating to Insolvency: A Critical Analysis
[Rishabh Sant Tiwari is a 5th year B.A. LL.B. (Business Law Honours) student at National Law University, Jodhpur, India] The 12 February 2018 circular of the Reserve Bank of India (RBI) was assailed as ultra vires the powers given to it under the Banking Regulation Act, 1949 and the Reserve Bank of India Act, 1934 in Dharani Sugars and Chemicals Ltd. v. Union of India. The Challenge Curious Case...
Voluntary Retention Route for Foreign Portfolio Investors
[Bhawana Keshwani is a student at Law College Dehradun, Faculty of Uttaranchal University] In March 2019, the Reserve Bank of India (RBI) along with Government of India and the Securities and Exchange Board of India (SEBI) introduced a new window called “Voluntary Retention Route” to encourage Foreign Portfolio Investors (FPI) to lock their investments in India for a considerable period. This...
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...
Recent Comments