[Prakshal Jain is a 2018 graduate of National Law School of India University, Bangalore and is working with the dispute resolution practice group of a law firm in Mumbai] The Madurai bench of the Madras High Court in D Siluvai Venance v. State noted that the increasing popularity of online gaming has created an alarming situation in the state of Tamil Nadu, especially among the youth. The Court...
The IBC’s Circle of Interpretation: Univalue Projects Pvt. Ltd. v. The Union of India
[Animesh Bordoloi is an Assistant Lecturer at the Jindal Global Law School and Hitoishi Sarkar is a III year student at the Gujarat National Law University. The authors would like to thank Mr. Rahul Sibal for his comments on the post] On August 18, 2020, a Single Judge of the Calcutta High Court in Univalue Projects Pvt. Ltd. v. The Union of India struck down an order passed by the Registrar of...
The Existential Crisis of a Decree-Holding Homebuyer under IBC
[Mayank Udhwani is a graduate of National Law University, Jodhpur] The decision of the National Company Law Appellate Tribunal (“NCLAT”) in Sushil Ansal v. Ashok Tripathi has become a cause for concern for the homebuyers. In this decision, the NCLAT has held that a homebuyer, who has obtained a decree in its favor from a court of competent jurisdiction, ceases to be a financial creditor. In this...
Balasore Alloys v. Medima: Rethinking Anti-Arbitral Injunctions
[Aarohi Chaudhuri is a second-year B.A. LL.B. (Hons.) student at the National Law School of India University, Bangalore] Anti-arbitration injunctions refer to injunctions granted by civil courts to stay the initiation or continuance of arbitration proceedings. Traditionally, Indian courts have laid down conflicting jurisprudence on civil courts’ powers to intervene in an arbitration by granting...
Call for Submissions: Special Issue of NLS Business Law Review on International Arbitration
[Announcement on behalf of the NLS Business Law Review] The Board of Editors of the National Law School Business Law Review is pleased to invite original and unpublished manuscripts for the Special Issue of the NLS Business Law Review. About the Institution The National Law School of India University is an institution of legal education focusing on legal and policy education in India at the...
SEBI Relaxes Norms for Delisting of a Listed Subsidiary
[Sanjana Arvind Kumar and Divya Rau are final year law students at Jindal Global Law School] The Securities Exchange Board of India (“SEBI”) through, its board meeting, on 29 September 2020, approved an amendment to the SEBI (Delisting of Equity Shares) Regulations, 2009 (“Delisting Regulations”). The amendment aims to simplify the delisting procedure for listed subsidiaries of listed companies...
Foreign Contribution (Regulatory) Amendment Act, 2020: A Challenge for Non-Profits?
[Shreya Mishra and Ayesha Bhattacharya are recent graduates of the West Bengal National University of Juridical Sciences, Kolkata. The authors would like to thank Prof. Umakanth Varottil for his comments] Recently, the Central Government froze the accounts of Amnesty International India, citing violation of foreign funding laws, while the latter has accused the Central Government of halting its...
Why is Bilateral Netting Relevant?
[Lakshmi Babu is a corporate lawyer with an interest in financial regulation] The Central Government has recently notified the Bilateral Netting of Qualified Financial Contracts Act, 2020 (“Netting Act”), which intends to implement the process of bilateral netting among eligible financial parties. The Netting Act is effective from October 1, 2020. Netting, in essence, means the off-setting of all...
Demystifying the Air around Lease and Rental Operational Debt
[Aridaman Raghav is a 3rd year B.A. LL.B. (Hons.) student at National University of Study and Research in Law, Ranchi] The National Company Law Appellate Tribunal (‘NCLAT’) in Anup Dubey v. National Agricultural Co-operative Marketing Federation of India (NAFED) Ltd. & Ors.(7 October 2020) has held that lease rentals arising out of the use of a cold storage unit for commercial purpose can be...
An Argument in Favour of an Effectively Mandatory CCI Approval Under Section 31(4) of the IBC- Part II
[Mayank Udhwani and Ragini Agarwal have recently graduated from National Law University, Jodhpur. Part I in this series is available here] In this two-part series, the authors argue that the provision under section 31(4) of the IBC must not be watered down and that approval from the CCI must be obtained prior to the approval of the resolution plan by the adjudicating authority. In part-I, the...
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