[Nikunj Maheshwari is a 4th year law student at the Institute of Law, Nirma University] The National Company Law Tribunal (NCLT), Mumbai Bench has recently provided a new twist to already labrynthine insolvency proceedings of the DHFL Group. The NCLT ordered the Committee of Creditors (CoC) to consider the resolution plan submitted by Mr. Kapil Wadhawan, who is the promoter and erstwhile director...
Going for Gold: SEBI Proposes Gold Trading on Exchanges
[Arunimaa Jaiswal is a fourth-year student at Gujarat National Law University, Gandhinagar] Through the Union Budget 2021-22, the Government of India notified the Securities and Exchange Board of India (“SEBI”) as the regulator for gold exchanges in India. Upon such notification and in pursuance of the Government’s intention of establishing regulated gold exchanges in the country, SEBI released a...
Insolvency and Personal Guarantors: Lalit Kumar v. Union of India
[Priyanka Pillai is an associate at IC Universal Legal, Mumbai] The protracted saga of the treatment of personal guarantors under the Insolvency and Bankruptcy Code, 2016 (the “Code”) seems to have been finally put to rest by the Supreme Court by way of its judgment in Lalit Kumar Jain v. Union of India. The inception of this tale was the notification issued by the Ministry of Corporate Affairs...
Arbitrator’s Award of Interest not ‘Patently Illegal’ Unless Contract Precludes
[Anujay Shrivastava is a law graduate (class of 2020) from Jindal Global Law School, O.P. Jindal Global University, Sonipat] It is a well-settled principle that ‘patent illegality’ is a valid ground for a court to set aside an arbitral award under section 34 of the Arbitration and Conciliation Act, 1996. Previously, I had jointly examined the position of law on ‘patent illegality’ as a ground to...
The Delhi High Court in Ultra Homes on IP Jurisdiction
[Raghav Kacker is an Advocate practicing before the High Court of Delhi and various Tribunals and Ruchi Chaudhury is a postgraduate in anthropology and currently an LLB candidate at Jindal Global Law School] A plaintiff in an infringement suit is bestowed with a generous choice of jurisdiction in addition to what the Code of Civil Procedure, 1908 (“CPC”) provides. Several...
Unqualified Fair & Equitable Treatment Clause: It’s Time to Revamp
[Ameya Vikram Mishra is an associate at J. Sagar Associates, New Delhi and Nikhil Pratap an advocate practising in Delhi] Recently, Cairn Energy plc filed a petition in the South District of New York to attach Air India’s assets. This action has been taken pursuant to an award by an arbitral tribunal (“Tribunal”) constituted under the Bilateral Investment Treaty between the United Kingdom and...
Replacing the Anachronistic Methods of Determining Dominance in EU Competition Law
[Aryan Garg and Bishesh Joshi are undergraduate law students at NALSAR University of Law, Hyderabad] With the evolving technology, there has been a rise of new dynamic digital platforms. They deviate from the traditional business models in various ways. The modern-day digital platforms are multi-sided, due to which there are network effects, and they can operate on the basis of zero-price models...
Call for Posts: The CCL, NLUO Blog
[Announcement on behalf of the CCL, NLUO Blog] The Centre for Corporate Law is an initiative of National Law University Odisha, Cuttack that strives to promote interdisciplinary research in corporate law, and related fields like insolvency laws, securities law, etc. The Centre for Corporate Law is pleased to inform you about the launch of the “CCL Blog”. The CCL Blog is a two-tier, peer-reviewed...
Digital Markets: Need for a New Approach to Merger Regulation
[Manasvin Andra is a 4th year B.A., LL.B. (Hons.) student at NALSAR University of Law School, Hyderabad] The emergence of digital markets has heralded a remarkable shift in antitrust law, with the impact of mergers on potential competitors attracting particular attention in recent years. While authorities in the United States (‘US’) and the European Union (‘EU’) have begun deliberating on...
Initiation of CIRP against a Company in Liquidation: How Early is too Early?
[Subodh Asthana and Madhur Bhatt are 3rd year B.A., LL.B. (Hons.) students at Hidayatullah National Law University, Raipur.] Section 279 of the Companies Act 2013 [“Act”] envisages that no legal proceedings shall be admitted if the winding up petition of a company has been accepted by the court or the liquidation proceedings have begun. The article seeks to clarify whether an application to...
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