Blog Posts
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Climate Change – A Ticking Clock for Investors?
[Insaf Ahmad TK and Mathangi K are third-year undergraduate law students at Gujarat National Law University, India] The year 2019 witnessed the bankruptcy of Pacific Gas and Electric Corporation which the Wall Street Journal described as a “climate change bankruptcy”. The investors in Pacific Gas and Electric Corporation incurred losses worth millions of dollars due…
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CCI on WhatsApp Privacy Policy: Some Inspirations, Some Questions
[Raghav Harini N is a final year B.A.LL.B. (Hons) student at ILS Law College, Pune] The Competition Commission of India (CCI), in a recent order, has caused the Director General (DG) to investigate the controversial privacy policy and terms of service of WhatsApp (the policy). It has concluded that the policy prima facie violates section…
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Indus Biotech v Kotak: A Step in the Right Direction?
[Ankur Singhal and Vasavi Khatri are 5th year B.A., LL.B. (Hons.) students at National Law School of India University, Bangalore] On 26 March 2021, the Supreme Court, in Indus Biotech Private Limited v. Kotak India Venture Fund ruled that an arbitration petition would not be maintainable after the insolvency resolution petition under section 7 of…
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Limitation Period for Section 37 Appeals: An Uncertain Affair
[Nitesh Mishra is a 4th year B.A., LL.B. (Hons.) student at National Law University Delhi] The Supreme Court in its recent judgment in Government of Maharashtra v. Borse Brothers Engineers & Contractors Pvt. Ltd. (19 March 2021) has attempted to clarify the law on the applicability and scope of condonation of delays in filing of…
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Standards for Application of the Limitation Act to the IBC
[Karan Kamath is an Advocate practicing at Mumbai] In the short span of existence of the Insolvency and Bankruptcy Code (“Code”), the Supreme Court has been called upon on a considerable number of occasions to decide whether the Limitation Act, 1963 (“Act”) is applicable to proceedings under the Code. On March 22, 2021, in another…
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Section 36 of the Arbitration and Conciliation Act, 1996, as Recently Amended
[Raghav Kacker is an Advocate practicing before the High Court of Delhi and various Tribunals and Ruchi Chaudhury is a postgraduate in anthropology, and currently a 2nd year LLB candidate at Jindal Global Law School] The Central Government has notified the Arbitration and Conciliation (Amendment) Act, 2021 (the ‘Amendment’), which was already in force…
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CCI on Interim Measures in Digital Markets
[Mohini Parghi is a IV Year B.A. LLB (Hons.) student at NALSAR University of Law, Hyderabad] The Competition Commission of India passed an interim order on 9 March 2021 in the ongoing case involving a complaint against MakeMyTrip, Go-Ibibo and Oyo alleging anticompetitive practices under sections 3 and 4 of the Competition Act, 2002. The…
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Supreme Court on Directors’ Duties in the Tata/Mistry Case: A Critique
[Posted by Umakanth Varottil] On 26 March 2021, the Supreme Court of India pronounced its much-awaited ruling in Tata Consultancy Services Limited v. Cyrus Investments Pvt. Ltd. The Court found that the allegations of oppression and prejudice raised by the Mistry group could not be sustained, and hence declined to grant any relief. It answered…
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Taxing Data under the Equalisation Levy: Taxpayers’ Challenges
[Akshara Rao is a final year B.A., LL.B. (Hons.) student at Jindal Global Law School, Sonipat] With the increasing dominance of the digital economy, countries and international organisations have highlighted the inefficiency of the current tax system in covering digital businesses, which are generating enormous profits from a jurisdiction without having any physical presence. Several…
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Disputes amongst the Same Class of Creditors and Judicial Intervention
[Rohit Sharma is a partner at Mamta Binani & Associates, Mumbai] Since the inception of the Insolvency and Bankruptcy Code, 2016 (‘Code’), numerous amendments have been carried out to plug the loopholes or uncertainties in the Code. In such a vein, section 30(4) of the Code was amended on 6 August, 2019, which states as…