[Mohammad Kaif is a final year student at Campus Law Centre, Faculty of Law, University of Delhi] The judgment of the National Company Law Appellate Tribunal (NCLAT) Chennai Bench in KK Ropeways Limited v. Billion Smiles Hospitality has significant implications for the interplay between arbitration and insolvency proceedings in India. The central question addressed by the NCLAT was whether a...
Reinforcing Secured Creditors’ Rights: Insights from the Ronak Industries Case
[Shruti Srivastava is a 4th year B.A., LL.B. (Hons.) student at National Law University and Judicial Academy, Assam] In the ever-evolving landscape of financial regulations, the concept of a secured creditor has assumed significant importance. A momentous shift occurred with the introduction of section 26-E in The Securitization and Reconstruction of Financial Assets and Enforcement of Security...
IBC Overrides Electricity Act: Capturing the Fallacy in Rainbow Papers
[Praveen Sharma is a 5th Year Student at MNLU Mumbai] Recently in Paschimanchal Vidyut Vitran Nigam Ltd. v. Raman Ispat Private Limited, the Supreme Court of India ruled that the Insolvency and Bankruptcy Code, 2016 (IBC) overrides the Electricity Act, 2003. While dismissing the appeal of Paschimanchal Vidyut Vitran Nigam Limited (PVVNL), the Court provided crucial clarification regarding the...
Mandatory Arbitration Clauses: A Threat to Labour in India?
[Nankee Arora is a fourth-year law student at Jindal Global Law School] Mandatory arbitration clauses have become increasingly prevalent in employment contracts around the world. Employers seek to bind their employees to arbitration from the inception of their employment contract so in the event a claim arises they can take recourse to the speedier but more importantly confidential and largely...
PSUs and Competition Law in India: Balancing Public Interest and Market Efficiency
[Himanshi Yadav and Kartikey Baid are 4th Year B.A., LL.B. (Hons.) students at National Law University, Jodhpur] In the contemporary era of interconnected global trade and commerce, the principles of free and fair competition among not only private enterprises but also public and private sectors have become synonymous with a well-functioning free market. Consequently, the intersection of...
Unraveling SEBI’s Ex-parte Interim Orders: A Critical Analysis of the Zee Entertainment Case
[Tanuj Sharma is a 5th year B.B.A. LL.B. (Hons.) student and Vanshika Sharma is a 4th year B.B.A. LL.B. (Hons.) student at National Law University Odisha] The Securities Appellate Tribunal (“SAT”) on 10 July 2023 upheld the decision of the Securities and Exchange Board of India (“SEBI”) barring Subhash Chandra, the then Chairman of Zee Entertainment Enterprises Ltd. (“ZEEL”), and Puneet Goenka...
Evaluating SEBI’s Fit & Proper Test: Striking the Right Balance
[Dhaval Bothra and Akshat Jain are law students at Symbiosis Law School Pune and National Law University Delhi, respectively] Trust remains the cornerstone in matters of public money, and the Securities and Exchange Board of India (“SEBI”) is the watchdog of this trust. In furtherance of this aim, almost two years ago, the SEBI introduced amendments to the “fit and proper rule” under the...
Digital Personal Data Protection Bill: Balancing Privacy and Innovation
[Ananya Karnwal and Astha Agarwal are 5th year B.A. LL.B (Hons.) students at National Law University Odisha in Cuttack, Odisha] Recently, on 5 July 2023 the Digital Personal Data Protection Bill (“The Bill”) received approval from the Central Cabinet. This Bill has been finalized after multiple attempts of the government to create a holistic legislation to govern digital data of individuals that...
Adducing Additional Evidence under Section 34 of the Arbitration and Conciliation Act
[Raghav Bhatia is an Advocate practising at the Supreme Court and Delhi High Court. He can be contacted at [email protected].] Early this year, the Supreme Court of India in Alpine Housing Development Corporation Pvt. Ltd. v. Ashok S. Dhariwal reiterated that only in exceptional circumstances can a party adduce additional evidence under section 34 of the Arbitration and Conciliation Act...
Strengthening AIF Governance: SEBI’s Pro-Rata Proposal
[Sagun Modi is a 4th Year B.A. LL.B. (Hons.) student at National Law University, Odisha] Alternative investment funds (‘AIFs’) have emerged as vital investment vehicles in the global financial landscape. They provide investors with diversified investment opportunities beyond traditional asset classes. India witnessed a 30% increase in investment commitments into AIFs, from Rs. 6.41 trillion in...
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