[Anchit Jasuja is a 3rd year law student at Gujarat National Law University, Gandhinagar] Given, the limitations of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) in determining the value of disputed claims during the resolution process, most resolution plans notionally admit the disputed claims with their repayment being dependent on the adjudication of the claim post the approval of the...
India’s Equalisation Levy, Digital Services Trade, and the Evolutionary Approach – Part II
[Ayushi Singh is a 5th year student at National Law University, Jodhpur] As mentioned in the previous post, USA could challenge the equalisation levy and similar digital services taxes for violation of the most favoured nation [MFN] treatment under article I of the General Agreement on Trade in Services [GATS]. Before unpacking the possible arguments for an MFN action, some unique ambiguities...
India’s Equalisation Levy, Digital Services Trade, and the Evolutionary Approach – Part I
[Ayushi Singh is a 5th year student at National Law University, Jodhpur] Multilateral trade relations have suffered numerous blows from proponents of unilateral protectionism in the form of trade wars and economic warfare. The issue of digital taxation has the potential of becoming an additional blow. The United States Trade Representative [USTR] has announced the initiation of investigations...
The MSME Act and Arbitration Agreements: First Mover Advantage?
[Vaishnavi Chillakuru is a lawyer based in Mumbai] The primary objective of the Micro Small and Medium Enterprises Development Act, 2006 (“MSME Act”) is to “provide for facilitating the promotion and development and enhancing the competitiveness” of micro, small and medium enterprises. To further this objective, the MSME Act contains provisions for dispute resolution which are applicable to...
Permanent Establishments: A note on DIT v. Samsung Heavy Industries
[Pragya Kaushik was a Law Clerk-cum-Research Assistant to Hon’ble Justice Rohinton Fali Nariman in 2019-20 and is a graduate from National Law School of India University, Bangalore] The determination of Indian tax liability of a foreign enterprise is a deeply contentious topic plaguing the Indian tax law regime. It involves a lot of complicated issues, one of them being the determination of...
Call for Blogs: HNLU Corporate and Commercial Law Blog
[Announcement on behalf of the HNLU Corporate and Commercial Law Blog] The HNLU Corporate and Commercial Law Blog (“CCLS Blog”) is established under the Corporate and Commercial Law Society of Hidayatullah National Law University, Raipur. The Society, created in 2017, is an independent, student-run body formed by corporate law enthusiasts of HNLU solely intending to promote discourse on...
Disgorgement in India: Takeaways from a Recent US Supreme Court Ruling
[Shaivi Shah is a 3rd year student and Palash Moolchandani a 4th year student, both at National Law University, Odisha] The Black’s Law Dictionary defines disgorgement as “the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion”. In India, since the enactment of the Securities and Exchange Board of India Act, 1992, the tool of disgorgement has been...
Gender and Ethnic Diversity in Arbitral Institutions: Where Do We Stand?
[Dhriti Mehta is a 2nd year LLB student at Campus Law Centre, Faculty of Law, University of Delhi] Over the past few decades, concomitant with the rise of international arbitration, institutional arbitration has increasingly become a preferred option for dispute resolution. The arbitral institutions wield significant influence concerning the arbitrator appointments. In cases where the parties...
Corporate Restructuring in India: The Cross-Class Cramdown Provision
[Aastha Agarwalla is a final year law student at Campus Law Centre. Faculty of Law, University of Delhi] The United Kingdom (UK) recently enacted a much-awaited economic legislation, the Corporate Insolvency and Governance Act 2020 (CIGA). The CIGA introduces sweeping reforms, including a cross-class cramdown provision (CCDP), in the restructuring legal framework. The cramdown mechanism, inspired...
The Quick Heal Judgment: Optional versus Mandatory Reference to Arbitration
[Rohan Deshpande practices as a Counsel at the Bombay High Court, and Karan Kamath is a 2020 B.A. LL.B. (Hons.) graduate from Symbiosis Law School, Pune] The Bombay High Court in its judgment dated June 5, 2020 in Quick Heal Technologies Ltd. v. NCS Computech Pvt. Ltd. was concerned with an application for appointment of an arbitrator. The central question for determination was as to the...
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