Category: Uncategorized
-
UK Supreme Court on Non-Signatory Parties in Arbitration: Part II
[Posted by Mihir Naniwadekar] (Continued from Part I which is available here) We can now briefly turn to the judgment of Lord Collins. Lord Collins elaborated the position on broadly similar reasoning. On the issue of the standard of review to be adopted, he observed, “The principle that a tribunal has jurisdiction to determine…
-
UK Supreme Court on Non-signatory Parties in Arbitration: Part I
[Posted by Mihir Naniwadekar] We have previously discussed issues surrounding privity in arbitration agreements; and in a recent post, Shantanu looked at a recent decision of the Supreme Court of India on the point which lays down the proposition that an award cannot be enforced against a party merely by virtue of its association with…
-
Two Global Indicators: Measuring India’s Performance
[Posted by Umakanth Varottil] Doing Business Doing Business 2011, a co-publication of the World Bank and the International Finance Corporation, was released earlier this week. As far as India’s position is concerned, nothing significant has altered compared to its ranking in last year’s report. Of a total of 183 countries covered in the report, India…
-
Privity in Arbitration Agreements
[Posted by Shantanu Naravane] The issue of privity to an arbitration agreement has been the subject of much controversy, especially in the context of the grant of interim measures under section 17 (by the arbitral tribunal) and section 9 (by the Court). In SN Prasad v. Monnet Finance, the Supreme Court had occasion to revisit…
-
More Hurdles for LLPs
[Posted by Umakanth Varottil] As we have previously noted on this Blog, the popularity of limited liability partnerships (LLPs) has not met with expectations since introduction of that business vehicle in April 2009. While the Government has taken certain steps to boost the utility of LLPs, such as by considering the possibility of foreign investment…
-
Software and Royalty: Further Controversies
[Posted by Mihir Naniwadekar] In an earlier post, I had stated: “The judgment in TCS as also the subsequent decision of the ITAT in Sonata, (2007) 106 T.T.J. (ITAT) 797, make it abundantly clear that payments for shrink-wrapped software would not be chargeable to tax in India. V. Niranjan, in a recent article published in the Journal of Business Law describes…
-
Changes to Capital Markets Regulations
[Posted by Umakanth Varottil] On October 25, 2010, SEBI announced a number of changes to regulations governing capital markets. 1. Public offerings. A new regime is being established for IPOs by insurance companies. Rather than issue a new set of guidelines for that industry, SEBI has decided to apply the ICDR Regulations, 2009 along with…
-
Advisory Boards for Indian Companies
[Posted by Umakanth Varottil] About a week ago the Economic Times’ Corporate Dossier carried two columns (here and here) highlighting the growing popularity of advisory boards in Indian companies. The individuals on such boards perform advisory functions and almost no monitoring functions. In that sense, an advisory board is distinct from the statutorily required board…
-
Dosco India v Doosan: The Sequel to Citation Infowares
[Posted by V. Niranjan] One of the more important recent controversies over the Indian Arbitration Act has been the interpretation of the “express or implied exclusion” to the rule in Bhatia International. As is well known, the Supreme Court held in Bhatia International that Part I of the Indian Arbitration Act applies to international commercial…
-
The Sale of Liverpool Football Club
[Posted by Shantanu Naravane] Last week, the English High Court of Justice considered a very interesting legal issue, also having great relevance for the football world. This concerned the sale of Liverpool Football Club [“Club”] to NESV, an American company which also owns the baseball team Red Sox. The owners of the Club, Mr. Hicks…