[Announcement on Behalf of the National Law School of India Review] About NLSIR The National Law School of India Review (NLSIR) is now accepting submissions for its upcoming issue – Volume 31(1). The NLSIR is the flagship law review of the National Law School of India University, Bangalore, India. The NLSIR is a bi-annual, student edited, peer-reviewed law journal providing incisive legal...
Supreme Court on Conflict in Arbitration Agreement of Insurance Policy
[Nikhil Singh is a 2nd Year B.A., LL.B. (Hons.) Student at The West Bengal National University of Juridical Sciences, Kolkata] Introduction Recently, a three-judge bench of the Supreme Court in the case of Oriental Insurance Co Ltd v. Narbheram Power and Steel Pvt Ltd analysed a contentious dispute redressal clause commonly found in insurance agreements. The Court, while finding in favor of...
The Indian Competition Watchdog’s Application of the Herfindahl-Hirschman Index
[Suyash Bhamore is a 3rd Year B.A. LL.B. (Hons.) student, NLIU Bhopal] Background and Context Economics, more specifically, tools of economic analysis have always been accorded paramount importance when conducting competition analysis. The Herfindahl-Hirschman Index (HHI) is one such econometric tool, which is widely accepted by various competition regulators as a measure of market concentration...
Inclusion of Home Buyers in the Insolvency Process: An Analysis
[Ashwin Mathew is with Mansukhlal Hiralal & Co, Mumbai] Introduction Pursuant to the Insolvency Law Reform Committee Report dated 3 April 2018 (“Report”), the Government has promulgated the Insolvency and Bankruptcy (Amendment) Ordinance, 2018 (“Ordinance”) on 6 June 2018 to implement the recommendations in the Report by amending the Insolvency and Bankruptcy Code, 2016 (“IBC”). One of the...
Confidentiality: Protecting Trade Secrets
[Maneck Mulla is a Partner and M. Siddha Pamecha an Associate at M Mulla Associates] Introduction There is no copyright on ideas or information; hence, sharing any confidential information and preserving such information present complex issues, especially at the time of breach of confidence. Often, without taking adequate safeguards, companies and individuals share technical know-how, trade...
Section 29A of the Insolvency and Bankruptcy Code: A Pandora’s Box
[Garima Mehra and D Sharma are both Advocates] One of the primary objectives of the Insolvency and Bankruptcy Code, 2016 (the “Code”)) is to facilitate the adoption of a resolution plan for the corporate debtor. The resolution plan is to serve as a benefit to not only the creditors but also to the already stressed corporate debtor. Originally, section 5(25) of the Code defined a resolution...
Proof of Claim in Liquidation: Dispensable?
[Sikha Bansal is a Senior Associate at Vinod Kothari & Company and Shreya is a B.A., LL.B. (Hons.) student at Rajiv Gandhi National University of Law, Punjab. The authors can be reached at [email protected]] In SBS Transpole Logistic Pvt. Ltd. v. M.M. Cargo Container Line Pvt. Ltd. & Ors. [CA 152/2018 in CP (IB) 204(ND)/2017] before National Company Law Tribunal, New Delhi Bench...
Mandatory Pre-Institution Mediation in Commercial Matters: Is India Ready?
[Vishal Hablani is a 3rd Year B.A.L.L.B. (Hons.) Student and Pankaj Agarwal a 4th Year B.A.L.L.B (Hons.) Student at WBNUJS, Kolkata] In order to address the pendency of cases in the commercial courts, the Government of India on May 3, 2018, introduced the Commercial Courts, Commercial Division and Commercial Appellate Division of High Court (Amendment) Ordinance of 2018 (the “Ordinance”), with...
Direct Listing of Indian Companies on Foreign Exchanges and Vice Versa: A New Era for Fundraising
[Tanaya Desai is a 5th-year student at ILS Law College, Pune] Introduction In its press release dated June 12, 2018, the Securities Exchange Board of India (“SEBI”) expressed its intention to consider facilitating unlisted companies incorporated in India to directly list their equity share capital on foreign exchanges and, concurrently, of foreign firms on Indian exchanges. In furtherance of the...
National Financial Reporting Authority: Is There Really a Need?
[Anirudh Singh is a 4thyear B.A LL.B (Hons.) student of NALSAR University, Hyderabad] On 1 March 2018, the Union Cabinet gave its assent to National Financial Reporting Authority (NFRA), which is considered to be a major development for the regulation of financial auditing in big companies. As recommended by the Standing Committee on Finance in its 21streport, the NFRA will assume its role as an...
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