[Ekta Janghu is an Associate at Wadia Ghandy & Co., Mumbai and Riya Gupta is an Associate at Algo Legal, Mumbai] On February 1, 2021, the Finance Minister announced a host of reforms vide its first paperless budget. Amongst these, was the proposal to increase the threshold for foreign investment in the Indian insurance sector to 74% from the erstwhile threshold of 49%. The announcement was...
UK Supreme Court Rules Uber Drivers are Workers: Its Impact on India
[Paridhi Rastogi is a 4th year B.Com., LL.B. (Hons.) student at the Institute of Law, Nirma University, Ahmedabad] In a recent landmark ruling, on the 19 February 2021, the UK Supreme Court has ruled that Uber drivers are ‘workers’, and not ‘independent contractors’. The judgement in the case of Uber BV and others v. Aslam and others, marks a paradigm shift in the treatment of individuals working...
Appeal under Arbitration Act Maintainable Against Order Refusing to Condone Delay
[Pinak Parikh is a graduate of the Institute of Law, Nirma University and practises before the High Court of Gujarat and NCLT, Ahmedabad] Recently, in Chintels India Ltd. v Bhayana Builders Pvt. Ltd., the Supreme Court (“SC”) of India answered a perennial question of law pertaining to maintainability of an appeal under section 37(1)(c) of the Arbitration and Conciliation Act, 1996, against an...
The Online Platforms Conundrum and its Impact on Contract Law
[Varnika Agarwal is a 3rd Year BA LLB (Hons.) student at National Law University Delhi] The massive growth of online trade in India, over the past few years, has contributed to a paradigm shift in Indian competition law. It has raised questions regarding platform neutrality (or lack thereof), platform parity clauses, exclusive agreement clauses, and deep discounting, among others. The lack of a...
Arbitrability of IPR in India: Have Courts Put a Snooze on Booz Allen?
[Manasa S Venkatachalam is a 4th year B.A., LL.B. (Hons.) student at Gujarat National Law University] The advent of arbitration into various other areas of law raises increased issues of arbitrability of certain subject-matters. Following issues of fraud, lease agreements and tortious claims, perhaps the next big question with respect to arbitrability in India arises with respect to intellectual...
The Second NLUJ CSBF Essay Writing Competition, 2021
[Announcement from the Centre for Studies in Banking and Finance, National Law University, Jodhpur] We are elated to inform you that the Centre for Studies in Banking and Finance (“CSBF”), National Law University, Jodhpur is inviting submissions for the “SECOND NLUJ CSBF ESSAY WRITING COMPETITION, 2021” in association with J. Sagar Associates as our intellectual partner and Eastern Book Company...
Enforcement of International Commercial Mediated Settlement Agreements
[Mayanka Dhawan is a Delhi-based Advocate and has an LLM from University College London] The advent of globalization has manifested in manifold increase in cross-border business, which has prompted commercial disputes to take new dimensions, including foreign disputants and multinational corporations. In resolving such disputes, the usual litigation did not turn out to be the preferred choice for...
Non-Arbitrability of Debt Recovery Disputes: The Need for Reconsideration
[Shagun Singhal and Khushbu Turki are third year students at National Law Institute University, Bhopal] Since the Arbitration and Conciliation Act, 1996 fails to define the contours of subject-matter arbitrability, the same has remained a bone of contention despite repeated attempts by the courts to crystallise its scope. The issue was first addressed by the Supreme Court in of Booz Allen v. SBI...
Flip Structure Transactions: Regulatory Implications in India
[Divyansh Nayar is a 5th Year B.A.LL.B student and Arth Singhal a 4th Year B.A.LL.B student, both at National Law University Odisha] Over the last decade, the concept of a “flip” has gained popularity in the venture capital circles, especially amongst Indian startups seeking support from foreign investors. A “flip” transaction is one where an Indian company incorporates a company in a favourable...
SEBI Informal Guidance on Receipt of Broking Income from Advisory Clients
[Rakshita Poddar is an Associate at Mindspright Legal in Mumbai] India’s financial advisory market has been developing at a rapid pace in the last decade and this required financial regulators like the Securities and Exchange Board of India (SEBI) to introduce a comprehensive and transparent set of laws for scrutinising the conduct of the market participants like investment advisers. Accordingly...
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