[Aaryana Anand is a 4th year BSc. LL.B (Hons.) student at Gujarat National Law University, Gandhinagar] Rule 86A (‘rule 86A’) was inserted in theCGST Rules, 2017 (‘Rules’), with effect from 26 December 2019. The said provision provides wide powers to the Commissioner or an officer authorized by him, not below the rank of an Additional Commissioner, to impose restrictions on Input Tax Credit...
Disgorgement: An Equitable Remedy or a Penal Measure?
[Anoushka Biswas is a 3rd Year, B.A. LL.B. (Hons.) student at National University of Juridical Sciences, Kolkata] Disgorgement harbours the principle of giving up the possession of profits illegally obtained, leading to unjust enrichment. Black’s Law Dictionary defines disgorgement as “the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion”. Unjust...
Call for Submissions: Centre for Insolvency and Bankruptcy Studies Blog
[Announcement on behalf of the Centre for Insolvency and Bankruptcy Studies Blog] The Centre for Insolvency and Bankruptcy Studies Blog welcomes all kinds of submissions in the form of articles, research pieces, opinions, case comments and short notes dealing with any contemporary and pertinent development related to insolvency and bankruptcy laws. Originality All submissions must be original...
The Trilemma of Luxury Brands, Selective Distribution and Competition: An Indian Perspective
[Anmol Ratan is a fourth-4th year law student at National Law School of India University, Bengaluru] From high-end haute couture fashion houses of Dior and Chanel to premium automobile brands of Rolls Royce and Porche, it is evident that luxury brands are manifesting their presence in various emerging global markets, and India is no different. With the advent of liberalisation and globalisation...
Call for Papers: NALSAR Student Law Review
[Announcement on behalf of the NALSAR Student Law Review] The NALSAR Student Law Review (NLSR) is now accepting submissions for its upcoming Volume XVI. The NSLR is an annual, student-edited, peer-reviewed law journal that is the flagship publication of NALSAR University of Law, Hyderabad, India. It is indexed on Hein Online and SCC Online. The NSLR is committed to encouraging and enhancing the...
Pre-Packaged Insolvency: A Stumbling Block for the MSME Sector
[Gunjan Singh and Umang Chaturvedi are 3rd year B.A. LL.B. (Hons.) students at Rajiv Gandhi National University of Law, Punjab] The disruption of economic processes and business cycles owing to the pandemic caused a major blow to the functioning of the industrial sector. Additionally, it impacted the entities who had already borrowed money from the market or financial institutions, as they were...
Call for Submissions: Scholasticus Vol. 9(2)
[Announcement on behalf of the Centre of Studies in Banking and Finance at National Law University, Jodhpur] Scholasticus (ISSN 0975-1157) is one of the earliest publications by National Law University, Jodhpur established with the objective of promoting academic research and fostering debate in the field of Banking & Finance. The Journal has been re-launched after a gap of a few years, and...
Priority and Value of Security Interest Cannot be a Ground for Challenge of Resolution Plan
[Anugya Mukati and Kirti Dhoke are undergraduate students at the National Law Institute University, Bhopal] The Supreme Court of India in a recent judgment in the matter of India Resurgence Arc Private Limited v. Amit Metaliks Limited, held that a Resolution Plan that has been approved under the Insolvency and Bankruptcy Code ( “the Code”) cannot be challenged by a dissenting financial creditor...
CCI’s Approach to Conglomerate Mergers: Arguing for a Reconsideration
[Nishant Pande is a law graduate (B.A. LL.B. (Hons.)) from the NALSAR University of Law, Hyderabad (Class of 2021)] In late 2020, the Competition Commission of India (‘CCI’) expressed its intention to study the ownership patterns of private equity (‘PE’) investors. The CCI’s concern was based on the possibility that minority shareholdings of PE investors were not mere passive investments and they...
Judicial Misinterpretation of Scope of Sanctions in Scheme of Arrangement
[Vasu Aggarwal is a student at National Law School of India University. He is grateful to Prof. Rahul Singh for inspiring him to write on this topic, and thankful to Prof. Rahul Singh and Prof. Umakanth Varottil for their comments on the earlier drafts of this post] This post argues that courts have misinterpreted the scope of ex-ante sanction requirement for compromise and arrangement due to the...
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