[Pranav Mihir Kandada is a rising 3rd year student at NALSAR University of Law, Hyderabad] Ever since the first case of insider trading through online messaging about two decades ago, insider trading in the digital era has gained new contours over the years. In India, the advent of instant messaging services with end-to-end encryption has turned them into a new venue for communication of...
Modifying an Approved Resolution Plan Due To Covid-19
[Shebani Bhargava is a 4th year student at the Maharashtra National Law University Mumbai (MNLU Mumbai)] The novel coronavirus and the unprecedented nationwide lockdown have disrupted the country’s economy. As a consequence, multiple businesses may face the threat of insolvency. In order to soften the setback and ease the financial stress, the Government, along with the Insolvency and Bankruptcy...
Opportunistic Delisting in the Times of Covid-19: Need for Checks and Balances
[Tanvi Prabhu is a IV year student and Mansi Mishra a III year student, both at National Law Institute University, Bhopal] With Covid-19 adversely affecting the markets, stocks are trading at multi-year lows. Companies, investors and shareholders are enduring the brunt of a bearish market. But, unsurprisingly, a few companies are embracing this opportunity to exit the stock market completely...
Suspension of the Insolvency and Bankruptcy Code: The Way Forward
[Shreya Choudhary and Arnav Sinha are final year students of ILS Law College, Pune] In the wake of recent developments involving the Insolvency and Bankruptcy Code of 2016 (IBC), it is important to explore the various alternatives to restructuring debt, dealing with stressed assets and furthering the economic growth in the country. The Finance Minister announced various changes to the IBC to...
End of the Centrotrade Saga: Supreme Court’s Interpretation of Section 48(1)(b) of the Arbitration and Conciliation Act, 1996
[Pinak Parikh is an Advocate at the High Court of Gujarat, and a B.A L.L.B (Corp Hons) graduate (2019) from the Institute of Law, Nirma University] Earlier this month, the Supreme Court in Centrotrade Minerals & Metals Inc v. Hindustan Copper Limited, while allowing enforcement of a foreign award, observed that the expression “was otherwise unable to present his case” appearing in section...
NAFED v. Alimenta SA and the Fundamental Policy of Indian Law
[Surbhi Shah is a 2019 graduate of the National Law School of India University, Bengaluru] A previous post on this Blog discussed the decision of the Supreme Court in National Agricultural Cooperative Marketing Federation of India (NAFED) v. Alimenta S.A.[1] It has been argued that the Supreme Court in its review of the merits of the foreign award and ultimate decision to refuse enforcement has...
A Good “Bad Bank”: Analysis of an Alternative tool for Resolution
[Winy Daigavane and Pavan Belmannu are 4th year B.A.LLB. (Hons.) students at the National University of Advanced Legal Studies, Kochi] With the Insolvency & Bankruptcy Code (Amendment) Ordinance, 2020 coming into force, the operation of the Insolvency & Bankruptcy Code 2016 (IBC) has been suspended for a period of six months or a for a further period not exceeding one year. This...
UK’s Corporate Insolvency and Governance Bill, 2020: A Model for India?
[Apurva Vats and Vishal Bijlani are 2nd and 3rd year students respectively of National Law University Odisha] In the midst of a global pandemic, several nations have been working towards enhancing their insolvency regimes to mitigate the current situation. The Corporate Insolvency and Governance Bill published by the UK Government on 20 May 2020 is expected to be enacted as soon as possible if...
Habitual Residence under the Indian Arbitration Regime
[Rohan Deshpande practices as a Counsel at the Bombay High Court.] The Bombay High Court in Aslam Deshmukh v. ASAP Fluids Pvt. Ltd. (decided on February 22, 2019) was concerned with a question whether the proceedings for appointment of an arbitrator arose out of a domestic or an international commercial arbitration. The question under the Indian Arbitration and Conciliation Act, 1996 (‘Act’) is...
The IBC (Amendment) Ordinance, 2020: Need to Iron Out the Creases
[Rongeet Poddar is a graduate of West Bengal National University of Juridical Sciences and Sayak Banerjee a 3rd year student at National Law University, Jodhpur] The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 was promulgated on June 5, 2020 and came into force immediately. The amendment acknowledges that the Covid-19 pandemic has harmed businesses around the world following a...
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