[Saurav Roy is a final-year law student [V B.A.LL.B] at ILS Law College, Pune] On 2 April 2019, a Supreme Court bench of Justice Rohinton Nariman and Justice Vineet Saran delivered a landmark judgement in the case of Dharani Sugars and Chemicals Ltd. v. Union of India which deals with the pertinent issue of a controversial circular issued on 12 February 2018 titled “Resolution of Stressed Assets...
Identifying The Arbitral Seat From Ambiguous Dispute Settlement Clauses—Has Supreme Court Muddied The Waters?
[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] The choice of the arbitral seat is fundamental to arbitration. The seat determines the lex arbitri as well as the courts that exercise supervisory jurisdiction over the arbitration. Although the distinction between the ‘venue’ and ‘seat’ of arbitration is well...
Call for Papers: NALSAR Student Law Review
[Announcement from the NALSAR Student Law Review] The NALSAR Student Law Review (NSLR) is now accepting submissions for its upcoming Volume XIV. NSLR is an annual, student-edited, peer-reviewed law review that is the flagship publication of NALSAR University of Law, Hyderabad, India. With a collaborative system of review and publication process, we remain committed to encouraging and enhancing...
Section 6(2a) of the Competition Act: The Invalidity Cloak
[Siddarth P. Chokkalingam is a 4th year student of the National Law School of India University, Bangalore] Section 6(2A) of the Competition Act, 2002 has been interpreted by the Competition Commission of India as well as the Supreme Court to impose standstill obligations on the parties, refraining them from consummating any combination, until the expiry of the 210 days mentioned therein or until...
A Sandbox for Indian Fintechs
[Manal Shah is a student at the National University of Advanced Legal Studies, Kochi and writes at thesecuritiesblawg.in] In his keynote address at the NITI Aayog FinTech Conclave 2019 held on 25 March 2019, the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, addressed and acknowledged the growth and potential for fintech firms in India. While doing so, he acknowledged that India...
Sensitization: The Key to Implementation of Insider Trading Regulations
[Ambika Mehrotra is a Manager at Vinod Kothari & Company and can be contacted at [email protected]] Background of the Regulations The strong and decisive steps taken by the Securities and Exchange Board of India (SEBI) with respect to insider trading have attracted a great deal of attention over the last couple of months. The modifications to the existing SEBI (Prohibition of Insider...
Recent Developments Pertaining to Independent Directors
Professor Bala N. Balasubramanian has authored the latest edition of the NSE Quarterly Briefing titled “Caution: Independent Directors – Hairpin Turns Ahead!”. The abstract/introduction is as follows: The institution of Independent Directors (D), heralded as a virtual panacea for all governance ills, nearly three decades ago in the UK’s Cadbury prescriptions, is now almost universally under...
Bombay High Court on the Rights Available under the Arbitration and Conciliation Act if the Seat of Arbitration is London
[Gourav Mohanty is a lawyer in Mumbai] The judgment of Bombay High Court earlier this year in Prysmian Cavi E Sisteni S.r.l v Viiay Karia may have struck a death knell to the prospects of choosing London as a seat of arbitration for Indian parties. This post will examine whether pursuing a London-seated arbitration would deprive an award debtor of its right to resist an award on jurisdictional...
Delimiting the Boundaries: Settlement Plan under the Insolvency Regime
[Varsha Gupta and Tushar Behl are 4th year students at the School of Law, UPES, Dehradun] The Insolvency and Bankruptcy Code, 2016 was enacted with the objective of facilitating time-bound resolution of corporate persons, among others, for maximizing the value of assets of such persons. Considering the resolution objective of the Code, section 12A was introduced through the Insolvency and...
India’s Draft Privacy Law: Can Blockchain Forget?
[Jishnu M Nair is an Attorney at IBM India/South Asia. The opinions are personal views of the author and do not necessarily represent IBM’s positions, strategies or opinions.] The right to be forgotten is one of the key requirements of the recently released draft of India’s personal data protection law. Can blockchain adapt to this key concept? In Mario Costeja Gonzalez[i], the Court...
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