[Smaran Shetty is a Senior Associate with Keystone Partners and Pranav Budihal is an LLM Candidate at the National University of Singapore] Force majeure has become a fairly common ground to avoid the performance of contractual obligations in a post Covid-19 world. In a time when lawyers and parties seek to examine their force majeure clause and reassess their contractual arrangements, we have...
Call for Blogs: The IP Law Post
[Announcement on behalf of the IP Law Post] We are a group of HNLU students with a keen interest in Intellectual Property Law. By means of this blog, we aim to facilitate dialogue and debate on recent domestic and international developments. With the tremendous growth in technology, art and industry, IP has touched many facets of our lives such as business, innovation, sports, fashion, media...
Tug of War between Nominee and Legal Heir: The Debate Continues
[Abolee Vilas Vaidya is a Legal Analyst at Landryt and Priyanka Pillai an Associate at IC Universal Legal, Mumbai] The tussle between nominees and legal heirs in respect of shares of a company has always been a cause of sizeable confusion. The solution may seem to be a simple determination of whether the rights of the nominee under section 72 of the Companies Act, 2013 can override the rights of...
Call for Papers: NLSIU’s Indian Journal of Law & Technology
[Announcement on behalf of the Indian Journal of Law & Technology] The Indian Journal of Law & Technology (IJLT) is now accepting submissions for Volume 17. Please send in your submissions before October 31, 2020 in order for them to be considered. About the Journal The Indian Journal of Law and Technology (IJLT) is a student-edited, peer-reviewed, completely open access law journal...
Input Tax Credit under GST: The Misery of Innocent Buyers
[Yash More and Hitoishi Sarkar are II year students at Gujarat National Law University] In 2017, the Indian Parliament introduced the concept of Goods and Services Tax (“GST“). Designed to be a single, comprehensive, destination-based taxation system, it aimed to overhaul the existing indirect tax framework and unify the country in terms of how taxes are collected. An uninterrupted...
The Banking Regulation (Amendment) Ordinance 2020: A New Beginning?
[Manasvini Vyas is a 5th year student at National Law University Odisha] On 26 June 2020, the Banking Regulation Act, 1949 (“the Act”) was amended by way of a presidential ordinance (the Ordinance’). The amendment seeks to bring urban cooperative banks (‘UCBs’) and multi-state cooperative banks (‘MCBs’) under the complete regulatory control of the RBI. This development assumes significance in the...
Post-Resolution Determination of Claims: A Dilemma for Creditor Rights
[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...
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