[Abhisar Vidyarthi is an Associate at AZB & Partners, New Delhi] Over the last decade, emergency arbitration has been increasingly recognised and adopted by most national and international arbitral institutions. In India, emergency arbitration received a significant push on 6 August 2021, when the Supreme Court of India (‘Supreme Court’) rendered a monumental decision in Amazon.com Nv...
Enhanced Minimum Amount of Default under IBC – Retrospective or Prospective?
[Ashwin Bala Someshwerar is an LL.M. Student at TNNLU, Tiruchirappalli, Tamil Nadu.] The Ministry of Corporate Affairs (MCA) issued a notification on 24 March 2020 (hereafter, ‘the notification’) enhancing the minimum amount of default under the proviso to section 4 of the Insolvency and Bankruptcy Code, 2016 (IBC) from one lakh rupees to one crore rupees. The notification does not mention the...
NCLAT Clarifies the Degree of Intervention in a Scheme of Reduction of Capital
[Aastha Bhandari is a fourth-year student at Jindal Global Law School] On 28 July, 2022 the National Company Law Appellate Tribunal (“NCLAT”) passed its judgement in Precious Energy Services Limited v. Regional Director, holding that the negative financials of a company vis-à-vis its net worth and book value per share do not hold any relevance in determining whether the company possesses...
Proposed Merger Control Amendments: Questions and Potential Consequences
[Avinash Kotval and Ishaan Saraswat are penultimate year students at Jindal Global Law School, Sonipat] The Government of India, through the Competition (Amendment) Bill, 2022 (“2022 Bill”), proposed to bring about multiple changes to Indian competition law. One of the most pertinent changes is the introduction of a new thresholdfor the notification of any combination to the Competition...
Call for Submissions: Indian Competition Law Review
[Announcement on behalf of the Indian Competition Law Review] The Centre for Competition Law and Policy (“CCLP”), NLU Jodhpur, is pleased to invite submissions for Volume VII Issue II of Indian Competition Law Review (“ICLR”). About National Law University, Jodhpur National Law University Jodhpur (NLUJ) is one of the foremost law schools in India. Since its establishment in 1999, it has...
Cox and Kings Judgment: Revisiting the Group of Companies Doctrine
[Natasha Matange and Dharmvir Brahmbhatt are 4th and 5th year students at Gujarat National Law University, Gandhinagar] Arbitration has been growing as a method of dispute resolution in recent years both in India and abroad. It is more formal than mediation, yet has certain procedural similarities to litigation. The essence of arbitration is rightly considered to be consent. It is recognised by...
The Need for an Ex -Post Assessment Framework to Tackle Killer Acquisitions in India
[Vishnu Bandarupalli is a third-year BA. LLB (Hons.) student at NALSAR University of Law, Hyderabad] Zomato’s acquisition of Uber Eats, Ola Cabs’ acquisition of TaxiForSure, Myntra’s acquisition of Jabong.com and, more recently, the merger of PVR and Inox—what is common between these corporate deals? They have arguably resulted in the consolidation of market power without triggering an antitrust...
Writ Petitions Not Ordinarily Maintainable against Non-Interim Arbitral Orders
[Anujay Shrivastava is an Advocate (India-qualified) and incoming LLM candidate at the University of Cambridge, and Abhijeet Shrivastava is a final year law student at Jindal Global Law School, India] Recently, a single judge of the Delhi High Court issued an order in Easy Trip Planners Ltd. v. One97 Communications Ltd. (25 July 2022), where it precluded a party from challenging an ‘order’ of an...
Unpaid License Fees as ‘Operational Debt’: The Ambiguity Persists
[Soundarya Rajagopal and Palak Sheth are 4th year B.Com. LL.B. (Hons.) students at Gujarat National Law University, Gandhinagar] In Jaipur Trade Expocentre Pvt. Ltd. v. Metro Jet Airways Training Pvt. Ltd. (“Jaipur Trade”), a full-bench of the National Company Law Appellate Tribunal (“NCLAT”) held that dues in relation to lease and license of immovable property constitute ‘operational debt’ under...
Analysing the Effect of the Supreme Court Judgement in Indian Oil Corporation Limited v. NCC Limited
[Dhiraj Abraham Philip is an Advocate-on-Record of the Supreme Court of India and a Partner at the law firm, Dua Associates] The Supreme Court in its judgment dated 20 July 2022 in Indian Oil Corporation Limited v. NCC Limited, held that even after the insertion of sub-section (6-A) in section 11, the scope of inquiry by the Court was not confined to the examination of whether a binding...
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