[Akash Kumar Surya is a 3rd year B.A., LL.B. (Hons.) student at the National Law School of India University, Bengaluru] In the case of In Re: Interplay the Supreme Court recently delivered its verdict on the legal position of unstamped arbitration agreement in India. The judgement has settled the issue, bringing clarity on a matter whose jurisprudence has otherwise been marked by chequered...
The Dynamics of Digital Consent Acquisition: The TRAI Mandate
[Shreya Saswati is a third year B.A.LL.B. (Hons.) Student at National Law University, Odisha] In its pursuit to curb the dissemination of unsolicited commercial messages, the Telecom Regulatory Authority of India (“TRAI”) issued a direction on 2 October 2023 under the Telecom Commercial Communication Customer Preference Regulation, 2018 (“TCCCPR”). This directed all access providers (“APs”) to...
A Breath of Fresh Air for Stressed Debts? Demystifying SEBI’s Consultation Paper on SSFs
[Mahim Raval is a 3rd year B.Sc., LL.B. (Hons.) student at Gujarat National Law University in Gandhinagar] India’s financial landscape has been grappling with the persistent burden of stressed assets, hampering the flow of credit and impacting economic growth. While the Reserve Bank of India (“RBI”) has introduced multiple schemes to resolve the burgeoning non-performing assets of banks, the...
Unstamped Arbitration Agreements: Will the Wheels Stop Spinning?
On 13 December 2023, a seven-judge bench of the Supreme Court rendered its verdict in In Re: The Interplay between arbitration agreements under the Arbitration and Conciliation Act, 1996, and the Indian Stamp Act, 1899 (“In Re: The Interplay”) on the validity and enforceability of unstamped arbitration agreements. This issue had become a matter of some consternation for the arbitration community...
Stamping Out Uncertainty: Resolving the Conundrum of Unstamped Arbitration Agreements
[Hrishikesh Goswami and Aryan Soni are 3rd year students at the Gujarat National Law University, Gandhinagar] The enforceability of arbitration clauses within inadequately stamped agreements has been a longstanding matter of legal scrutiny, with divergent opinions and decisions from various courts, including the Supreme Court. However, a significant resolution was achieved on December 13, 2023...
Unveiling the New LLP Rules on SBO Disclosure: Transparency or Ambiguity?
[Smruti Kulkarni and Manas Rohilla are 3rd year B.A., LL.B. (Hons.) students at the Gujarat National Law University, Gandhinagar] On 9th November 2023, the Ministry of Corporate Affairs (“MCA”) notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023, which mandate all Limited Liability Partnerships (“LLPs”) to identify and disclose their Significant Beneficial...
Restricting Stock Brokers from Non-Securities Business: SEBI’s Approach
[Vaishnavi Srinivasan and Philip Oommen are lawyers based in Mumbai, and graduates of the National Institute of Securities Markets] Rule 8(3)(f) of the Securities Contracts (Regulation) Rules, 1957, (“SCRR”) is one of the lesser-known, yet crucial provisions in securities regulation. From the placing of restrictions on loans and advances to the prohibition of digital gold sales, rule 8(3)(f) is...
Call for Submissions: National Law School of India Review (NLSIR)
[Announcement on behalf of the National Law School of India Review] The National Law School of India Review (NLSIR) is the flagship student-edited law review published by the National Law School of India University (NLSIU), Bengaluru. It is a bi-annual, peer reviewed journal and holds the unique distinction of being cited thrice by the Supreme Court of India. NLSIR has also been cited by courts...
SC Ruling on “Group of Companies” Doctrine: Viewed Through a Corporate Law Lens
On 6 December 2023, a five-judge bench of the Supreme Court in Cox & Kings Ltd. v. SAP India Pvt. Ltd. recognized the “group of companies” doctrine as being part of Indian arbitration law. By virtue of this doctrine, “an arbitration agreement which is entered into by a company within a group of companies may bind non-signatory affiliates, if the circumstances are such as to demonstrate the...
Group of Companies Doctrine: Apex Court’s Landmark Ruling in Cox and Kings
[Manas Rohilla and Smruti Kulkarni are 3rd year B.A., LL.B. (Hons.) students at the Gujarat National Law University, Gandhinagar] In the era of complex and multi-party transactions, the issue of whether non-signatories to an arbitration agreement can be bound by it has been largely relevant and contentious. On 6 December 2023, a five-judge constitution bench of the Supreme Court of India, in Cox...
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