[Aiyushi Mehrotra is a 4th Year B.A., LLB. student at Gujarat National Law University, Gandhinagar] Non-fungible tokens (“NFTs”) are digital blockchain tokens that identify ownership or particulars of unique items, whether they be digital or real in form. They are traded and programmed in the same way as cryptocurrencies like Bitcoin or Ethereum, but that is where the similarities...
Supreme Court on NCLT’s Powers under IBC, 2016
[Swarnendu Chatterjee is a Principal Associate at Saraf and Partners, Law Offices in New Delhi and Sneha Rath is a 3rd year B.A., LL.B. (Hons.) student at National Law University Odisha] The Supreme Court in Gujarat Urja Vikas v. Amit Gupta had propounded that the residuary powers of the National Company Law Tribunal (NCLT) under section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 (IBC)...
Rise of Low Cost Carriers: Reexploring the Traditional Market Definition
[Akshat Kothari is a 3rd year law student at Institute of Law, Nirma University] The Indian aviation industry is attracting customers by offering affordable services. However, the industry arguably suffers from its oligopolistic nature, since 90.5% of the market share vests with only few players. The interdependence in oligopoly allows the firms to operate in combinations and it gives rise to...
SAFE Notes: A Novel Funding and ‘Safe’ Method?
[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...
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