[Anujay Shrivastava is a law graduate (class of 2020) from Jindal Global Law School, O.P. Jindal Global University, Sonipat. Divyansha Agrawal is a practicing lawyer at the Delhi High Court and Associate with Advani and Co] In a recent order, a single judge of the Calcutta High Court in Jagdish Kishinchand Valecha v. SREI Equipment Finance Ltd. (13 April 2021) made an...
Mandatory Sunset Provisions in Shares with Superior Voting Rights
[Bhavya Solanki is a 4th year B.A., LL.B. (Hons.) student at the Maharashtra National Law University, Mumbai] Shares with differential voting rights [“DVR”], internationally known as dual class shares [“DCS”], are shares which have rights disproportionate to their economic ownership. DVRs include shares with superior voting rights [“SR Shares”] and shares with...
Making Room for Third-party Arbitration Funding in the Indian Regime
[Oshin Malpani is a penultimate year B.A., LL.B. (Hons.) student at NALSAR University of Law, Hyderabad] Third-party arbitration funding (“TPAF”) simply stated, is the funding extended to a claimant to pursue arbitration proceedings in exchange for a portion of the award (if) granted to them. It is a subset of the general third-party funding (“TPF”) that similarly funds other litigatory and...
Choice of Foreign Seat of Arbitration by Indian Parties: Scrutinizing its Validity
[Ashish Singh is an Advocate and Ex- Managing Associate at L&L Partners & Megha Shaw is a Final Year Law Student at The West Bengal National University of Juridical Sciences, Kolkata] The long drawn battle of choosing a foreign destination, under the Indian Arbitration & Conciliation Act, 1996, as the seat of arbitration by the domestic parties has been favorably settled by the...
Restrictive Immunity in Enforcement of Arbitral Awards against Foreign States
[Sparsh Mallya is a 3rd Year BBA-LL. B (Hons.) Student at O.P Jindal Global University, Sonipat] On June 18, 2021, the Delhi High Court held in KLA Const. Technologies Pvt. Ltd. v. The Embassy of Islamic Republic of Afghanistan (“KLA Const”) that prior consent of the Central Government under section 86 of the Civil Procedure Code (“CPC”) is not an express requirement for...
Coveted Tax Relief For Covid-Care Policies: An Employers’ Perspective
[Kavya Mathur and Pragya Chandak are law graduates from National Law University, Jodhpur] The unprecedented Covid-19 health crisis has had a grim impact on all facets of life, including the disruption of business, people’s livelihoods and even the loss of life. While employers are persevering to stay afloat themselves, there is undoubtedly also an element of altruism and sincere concern for the...
Fractional Ownership: Recommendations for Regulation
[Malavika Devaya is an Associate at Poovayya & Co., Bengaluru] Myre Capital, a fractional ownership platform by Morphogenesis, recently made headlines by raising INR 50 crores for its offering of the integrated township Magarpatta Cybercity. A concept that is fast gaining popularity in India but has been around in developed countries for a while now, fractional ownership is the obvious answer...
“No Oral Modification” Clause: A Tussle Over Interpreting Party Autonomy
[Divyansh Pareek and Divyansh Bhardwaj are 4th and 3rd year students of National Law University Odisha respectively] The Singapore Court of Appeal in Charles Lim Teng Siang v Hong Choon Hau (“Teng Siang”) has instigated a debate on the significance and extent of party autonomy in the contract. The court held that parties in a contract consisting a “no oral modification” clause (“NOM Clause”) can...
Proposed Amendments to the E-Commerce Rules: Going a Step Too Far?
[Rohan Mitra is a 4th Year B.A., LL.B. (Hons.) student at Jindal Global Law School] The Department of Consumer Affairs on June 21, 2021, proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020. The proposals have been released to the public and comments and suggestions have been invited, with the deadline being extended until late July. The rules have unsettled many online...
Proportionality: A New Special Equities Exception Against Invocation of Bank Guarantees
[Rhythm Buaria is an Advocate based in New Delhi] In an appeal under section 37 of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”), a Division Bench of the High Court of Delhi in Hindustan Construction Co. Ltd. v. National Hydro Electric Power Corporation Ltd., held that proportionality constitutes a special equities exception against invocation or encashment of unconditional bank...
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