[Devansh Parekh and Tanishq Mohta are BLS. LL.B. students at the Government Law College, Mumbai] When early-stage companies set out to raise capital, they are often presented with multiple fundraising vehicles to accomplish their goal. Over the years, hybrid instruments for investments such as Convertible Compulsory Debentures (“CCD”) and Compulsory Convertible Preference Shares (“CCPS”) have...
Strict Timeline for Filing an Appeal Under the IBC Regime
[Megha Shaw is a final year law student at WBNUJS Kolkata] Section 61(2) of the Insolvency and Bankruptcy Code, 2016, (Code) provides a limitation period of 30 days from the date of the NCLT order to allow the aggrieved party to file an appeal in the NCLAT. The NCLAT has the power to condone further delay, not exceeding 15 days, in addition to the 30 days, if the appellate tribunal is satisfied...
Challenging the Jurisdiction of an Arbitral Tribunal
[The following post has been authored by Vasundhara Shankar, Founding and Managing Partner, Verum Legal, and Aastha Arora, Partner, Verum Legal] Arbitration is an alternative dispute mechanism process wherein the parties intend to resolve the dispute expeditiously without judicial intervention. With this intent, the Arbitration and Conciliation Act, 1996 was enacted and amended subsequently to...
Bringing State-Owned Electricity Companies within the IBC Ambit
[Aradhana Parmeshwar is a 4th year student pursuing her B.A. L.L.B (Hons.) at WBNUJS, Kolkata] On 8 November 2021, in a letter written to the Secretary, Department of Legal Affairs, the Ministry of Power clarifiedthat the Corporate Insolvency Resolution Process (‘CIRP’) can be initiated against state-owned electricity distribution and generation companies. The communication was in pursuance of a...
The Need for a “Right to Repair” in India
[Ganesh BL is an Associate at a law firm in Mumbai and Muskaan Ahuja is an Associate at a law firm in Delhi] The notion of the ‘right to repair’ is simple and effective: an individual purchasing a product must own it completely. Apart from being able to use the product in any way they wish to, consumers must also have the right to modify or repair the product whenever, however, and in whichever...
Journal on Governance: Call for Papers | Volume V Issue 1
[Announcement on behalf of the Journal on Governance] National Law University, Jodhpur is an institution of national prominence established under the National Law University, Jodhpur Act, 1999 by Rajasthan State Legislation. The University is established for the advancement of learning, teaching, research and diffusion of knowledge in the field of law. About the Journal The Centre for Corporate...
CCI’s Opaque Penalty Regime: Need for Perspicuous Penalty Guidelines?
[Naman Katyal is a 4th-year B.A., LL.B. (Hons.) student at Gujarat National Law University, Gandhinagar] Since its inception, the Competition Commission of India (‘CCI’) has faced criticism for not supporting its calculations of quantum of penalty with suitable justifications and, therefore, levying arbitrary penalties in a number of judgements by courts and tribunals alike. In fact, section...
Online Certificate Course on Competition Law: 27-28 November 2021
[Announcement on behalf of Fortitude Learning] Through this course we seek to provide the participants with an in-depth knowledge of various aspects of Competition Law practice used all around India and globally. This course is curated to provide the participants with a comprehensive understanding of various aspects of Competition Law. Topics to be covered Bid Rigging and Collusive Rigging Merger...
Scope of Section 9(3) of the Arbitration Act: The Supreme Court Clarifies
[Ameya Vikram Mishra is an Associate at the office of Justice AK Sikri (Retd.). Satya Jha is a graduate of NUJS, Kolkata.] The 2015 Amendment Act brought significant changes to Section 9 of the Arbitration & Conciliation Act, 1996 (“Act”), which deals with granting interim reliefs by courts. The 2015 Amendment Act curtailed the court’s powers to grant interim reliefs once the arbitral...
Appointment of Substitute Arbitrators in India
[Dhruv S. Patel is an advocate practising in Gujarat and is associated with the Chambers of Adv. Jaideep B. Verma.] The appointment of substitute arbitrators in India has not been as straightforward as one would like to imagine. Since the last two decades, the Supreme Court of India and several High Courts have focused on the interpretation of various aspects pertaining to such appointments by...
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