[Shivani Vij is an advocate practicing before the Supreme Court of India, High Court of Delhi and various statutory and arbitral tribunals] In India, instruments creating title or any other interest in property, including commercial documents, are subject to payment of a fiscal duty to the Government in the form of ‘stamp duty’. Although the Indian Stamp Act, 1899, a central legislation, governs...
Yes Bank Case: Scope of ‘Encumbrance’ over Shares
[Arushi Gupta is a IV year student at National Law University Odisha] With the recent order of the Securities and Exchange Board of India (SEBI) imposing a fine on the promoter entities of YES Bank, the much contentious issue of the definition of encumbrance has again taken the centre stage. This post aims to analyse the recent order of SEBI in light of the SEBI (Substantial Acquisition of...
Rajasthan High Court on Prior-period Claims in Resolution Plans
[Megha Mittal and Shreya Jain are Associates at Vinod Kothari & Co.] A resolution plan under the Insolvency and Bankruptcy Cody, 2016 is the revival route for a corporate debtor, free of its past liabilities and dues, paid in accordance with the approved plan. Having said so, it might be noted that resolution plans assume the status of a statutory binding contract once approved by the...
Covid-19: Return of the MAC
[Sridutt Mishra is a 4th year student and Apoorva Upadhyay a 3rd year student, both at the National Law University Odisha] The fear over the spread of Covid-19 has wreaked havoc on the global economy, with initial estimates suggesting an even worse impact than the 2008 Global Financial Crisis and the Great Depression. Central banks and securities regulators across countries such as India, the...
Supreme Court on Jurisdiction of the Gujarat Arbitration Tribunal to Grant Interim Injunctions
[Abhijeet Shrivastava is a second year B.A., LL.B. (Hons.) student and Anujay Shrivastava a B.A., LL.B. (Hons.) candidate, both at Jindal Global Law School, Sonipat. The authors are grateful to Dr. V. Niranjan for his valuable inputs] Recently, a division bench of the Supreme Court in State of Gujarat v. Amber Builders (8 January 2020) has clarified that the Gujarat Public Works Contract Disputes...
Call for Papers: The Indian Journal of Intellectual Property Law
[Announcement on behalf of the Indian Journal of Intellectual Property Law] The Indian Journal of Intellectual Property Law (IJIPL) is the flagship intellectual property law journal of NALSAR University of Law, Hyderabad. IJIPL is India’s first student run journal that is wholly devoted to the study of intellectual property law. Published annually, it is the combined endeavour of NALSAR...
MCA Allows EGMs to be Conducted Virtually
[Aditi Nagpal is a 4th year BALLB student at Jindal Global Law School] The Ministry of Corporate Affairs (MCA) released a clarification through its General Circular 14/2020 dated 8 April 2020 which allows for extraordinary general meetings (EGMs) of companies to be conducted virtually. The Circular provides a welcome relief in light of the Covid-19 pandemic, and follows naturally in line...
Supreme Court Reopens the Limitation Period for Enforcement of Foreign Awards
[Smriti Shukla and Yash Raj are third year students of the National University of Study and Research in Law (NUSRL), Ranchi] In the recent judgment of the Supreme Court in Bank of Baroda v. Kotak Mahindra Bank Ltd. (17 March 2020), the question concerned the limitation period for the execution of the foreign decrees under section 44A of the Civil Procedure Code (CPC) in India. In an attempt to...
Supreme Court Rules on Limitation Period for Execution of Foreign Decrees in India
[Ankit Tripathi is a practicing advocate before the Supreme Court and Delhi High Court] In its judgement dated 17 March 2020, the Supreme Court in Bank of Baroda v. Kotak Mahindra Bank Ltd ruled on the limitation period applicable to the execution of foreign decrees in India, after it recorded contrasting views of the different state High Courts on the issue. It held that the limitation period...
‘Control’ under the Competition Law Regime: Is the Ambiguity Finally Settled?
[Abhishek Tripathy is a IV year student and Akshita Totla a III year student, both at the Institute of Law, Nirma University] The Ministry of Corporate Affairs introduced the Draft Competition (Amendment) Bill, 2020 in February 2020. The Bill was a result of efforts of the Competition Law Review Committee, which was established with the objective of suggesting amendments to the Competition Act...
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