[Priyasha Goyal is a graduate of the Jindal Global Law School, Sonipat] The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (‘CIRP Regulations’) were amended vide a notification dated 7 August 2020. The Insolvency and Bankruptcy Code, 2016 (‘the Code’) has been formulated with the objective of reducing the time taken for resolution...
Analysing MCA’s Proposed Framework on Business Responsibility Reporting
[Yash More and Hitoishi Sarkar are III year students at Gujarat National Law University] On August 18, 2020, the Securities and Exchange Board of India (“SEBI”) released the Consultation Paper on the format for Business Responsibility and Sustainability Reporting in India. Interestingly, on August 11, 2020, the Ministry of Corporate Affairs (“MCA”) had also released the Report of the Committee...
End to the Confusion on Amended Timelines under Section 29A of the Arbitration Act
[Divyansha Agarwal and Kunwar Abhay Singh are practicing lawyers at the Delhi High Court, and are associate lawyers with Advani and Co.] On July 21,2020, the Delhi High Court, in the matter of ONGC Petro Additions v Fernas Constructions Co. Inc., finally brought an end to the long-drawn confusion on the applicability of the amended timelines under section 29A of the Arbitration and Conciliation...
UKSC Decision in Sevilleja: Reflective Loss, Creditors and Implications for India
[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 authors would like to thank Mihir Naniwadekar for his comments on a draft version] The UK Supreme Court in its decision dated July 15, 2020 in Sevilleja v. Marex Financial Ltd. had to determine whether the rule against ‘reflective loss’...
The Future of Virtual Meetings under the Companies Act
[Gaurav Pingle is a Practising Company Secretary and Renucka Vaiddya a Research Associate at Gaurav Pingle & Associates] The Companies Act, 2013 has, at the outset, provided for conducting board meetings through video conferencing. In Achintya Kumar Barua v Ranjit Barthkur [2018] 91 taxmann.com 123, the National Company Law Appellate Tribunal (NCLAT) held section 173(2) of the Act read with...
E-Commerce Rules 2020: Protecting Consumer Welfare or Harming Individual Enterprise?
[Dhanush Dinesh is a graduate of the National Law School of India University, Bangalore] The Consumer Protection Act, 2019 has come into force on July 20, 2020. This statute supersedes the older Consumer Protection Act, 1986 and has been updated to reflect and incorporate modern forms of commerce, such as online shopping and tele-commerce. In furtherance of this, specific rules have been notified...
NLS Business Law Review: Call for Submissions
[Announcement on behalf of the National Law School Business Law Review] The Board of Editors of the National Law School Business Law Review is pleased to invite original and unpublished manuscripts for publication in the Volume 7 of the 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...
Examining the Issues with Free Supplies under GST
[Manasvin Andra is a 4th year B.A., LL.B. (Hons.) student at NALSAR University, Hyderabad] Promotional offers have long been used by companies to draw attention to their products. These strategies have generally proved successful, as they incentivise consumers to buy more of the designated good. However, the tax treatment of these free supplies changed with the emergence of the GST, leading to...
Consumer Protection (E-Commerce) Rules, 2020: An Analysis
[Sumit Kumar Gupta is a 4th year student at the West Bengal National University of Juridical Sciences] Governments across jurisdictions have always maintained a delicate balance between the competing interest of consumers and the dynamics of the market. True to its nature, markets have undoubtedly been inclined towards profit maximization, while consumers have sought to exploit the scant margin...
Recent Antitrust Issues in the US – Learnings for the Indian Competition Regime
[Vanshika Katiyar and Rajat Maloo are 4th year B.A., LL.B. (Hons.) students at the National Law School of India University, Bangalore.] On 29 July 2020, the heads of America’s largest tech giants, namely, Alphabet, Amazon, Apple and Facebook testified before the United States’ Congress. The members of the antitrust committee of the Judiciary Committee of the House of Representatives...
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