[Sanskar Modi and Vijpreet Pal are 3rd year BA LLB (Hons.) students at National Law Institute University, Bhopal (NLIU)] Recently, the Supreme Court, in the case of Orator Marketing v. Samtex Desinz decided that a lender who has advanced interest-free loans to a corporate body would fall under the definition of financial creditor and thereby could initiate the Corporate Insolvency Resolution...
Call for Submissions: The Law and Technology Society’s Essay Writing Competition
[Announcement on behalf of the Law and Technology Society, NLSIU, Bengaluru] The Law and Technology Society of NLSIU, Bengaluru is a group committed to exploring the boundless contours of the intriguing interface between law and technology. The main objective of the Society is to develop up-to-date learning opportunities in this field by organizing a series of fantastic events. The Dialogue is a...
CCI’s Rigid Approach in Holding Discount Control Policy Anti-Competitive
[Yagya Sharma is a 5th year BA LLB student at Institute of Law, Nirma University] On 23 August 2021, the Competition Commission of India (CCI) in In Re: Alleged anti-competitive conduct by Maruti Suzuki India Limited in implementing discount control policy vis-à-vis dealers has imposed a penalty of ₹200 crores and passed a cease-and-desist order against Maruti Suzuki India Limited (MSIL). The...
Call for Papers: Indian Journal of Arbitration Law
[Announcement on behalf of the Indian Journal of Arbitration Law] The Indian Journal of Arbitration Law [“IJAL”] is a bi-annual, open-access journal published by the Centre for Advanced Research and Training in Arbitration Law [“CARTAL”]. It is indexed on Kluwer Arbitration, HeinOnline, Westlaw and SCC Online. IJAL is the leading journal on arbitration law in India, with a global readership. It...
Orator Marketing v. Samtex Desinz: Highlighting the Importance of Time Value of Money
[Shivankar Sukul and Vedaant S. Agarwal are IV-year law students at the National Law University, Jodhpur] The Supreme Court of India (“the Court”) in Orator Marketing Pvt Ltd v. Samtex Desinz Pvt Ltd, (“Orator”) held an interest free term loan as a ‘financial debt’ in clear defiance of the statutory scheme under the Insolvency and Bankruptcy Code, 2016 (“the Code”), which necessitates...
Invitation to Participate: 6th Gary B. Born Essay Competition
[Announcement on behalf of the Indian Journal of Arbitration Law] The Centre for Advanced Research and Training in Arbitration Law and Indian Journal of Arbitration Law are pleased to announce that they will be organizing the 6th Gary B. Born Essay Competition on International Arbitration, 2021. About the Organizers National Law University Jodhpur: The National Law University, Jodhpur...
Online Certificate Course on “Competition Law and Policy”
[Announcement on behalf of Bettering Results] Bettering Results (BR) is conducting an online certificate course on the “Competition Law and Policy” from September 11- September 18, 2021. Through this Certificate Course, we seek to provide the participants with an in-depth knowledge of the growing relevance of competition law all around the globe. Competition Law is a rapidly growing...
Coverage of Future Misconduct under Oppression and Mismanagement
[Priya Garg is an Assistant Lecturer, OP Jindal Global University, Guest Faculty at NALSAR and Founding Trustee at The Corporate House and Saloni Kumari is a student research fellow at The Corporate House and law student at National Law University, Delhi] Recent corporate governance episodes have resulted in a greater invocation of the provisions under the Companies Act, 2013 (‘2013 Act’)...
CCI Probe: Will Amazon & Flipkart Pass Legal Scrutiny?
[Akshay Shrivastava is a 5th Year B.Com., LL.B. (Hons.) student at Gujarat National Law University, Gujarat] Recently, the Supreme Court refused to stay the ongoing probe on e-commerce giants Amazon and Flipkart by the Competition Commission of India (CCI) for promoting specific sellers owing to exclusive arrangements and rendering them special treatment by offering heavy discounts, thereby...
Call for Papers: National Law School Business Law Review
[Announcement on behalf of the National Law School Business Law Review] The Board of Editors of the National Law School Business Law Review is pleased to invite original and unpublished manuscripts for publication in Volume 8 of the Review. About the Journal The NLS Business Law Review is an initiative by the National Law School of India University to recognise and foster academic research and...
Compounding of Offences under the SEBI Act: Limiting the Role of SEBI
[Abhiraam Shukla is a III year student at the National Law Institute University, Bhopal] Section 24A of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) provides for the compounding/composition of certain offences which are punishable under the SEBI Act. It stipulates that any offence under the SEBI Act which is not punishable exclusively by imprisonment or by imprisonment and a...
Competition Concerns in the Cab Aggregators’ Market
[Lavanya Gupta and Shreya Mukherjee are final year students at Symbiosis Law School, Pune] Five years after the initiation of the case, the Competition Commission of India (“CCI”) recently rendered its decision on Uber’s alleged dominance in Meru Travel Solutions Pvt. Ltd. v. Uber India Systems Pvt. Ltd. In its case against Uber, Meru alleged that Uber was misusing its dominant market position to...
Stalemate on the SAT in the PNB Housing Preferential Allotment Case
A two-member bench of the Securities Appellate Tribunal (SAT) yesterday returned a split verdict on the legal issues surrounding the preferential allotment of shares by PNB Housing Finance Limited. The facts are relatively straightforward. Since PNB Housing’s controlling shareholder, Punjab National Bank, was unable to infuse funds due to the lack of regulatory approval from the Reserve Bank of...
Is India Ready to Adopt the CISG? The Plight of Determinable Contracts
[Anshul Butani is a 5th year B.A. LL.B. (Hons.) student at National Law School of India University (NLSIU), Bangalore] On August 1, 2018, the Government of India enacted an amendment to the Specific Relief Act, 1963 to improve the ease of doing business in India. Prior to the Amendment, specific performance was an exceptional remedy for breach of contracts, granted at the discretion of the court...
Call for Blogs: Corporate Law Board of the All India Legal Forum
[Announcement on behalf of the Corporate Law Board of the All India Legal Forum] The Corporate Law Board is an autonomous board of the All India Legal Forum. It is an initiative to engage a discussion around corporate law and policy in India and across the globe. The Board adopts a cross-jurisdictional and multi-disciplinary approach in analysing the various corporate law issues, regulatory...
Taxing the Fund Managers: The Future of Pass-Through Status of Trusts
[Shambhavi Sinha is a final year B.B.A., LL.B. (Hons.) student at Symbiosis Law School, Pune] The Securities and Exchange Board of India (“SEBI”) allows an Alternative Investment Fund (“AIF”) to be constituted as a trust, a company, a limited liability partnership (“LLP”), or a body corporate under the SEBI (Alternative Investment Funds) Regulations, 2012 (the...
Call for Papers: Indian Journal of Law & Technology
[Announcement on behalf of the Indian Journal of Law & Technology] The Indian Journal of Law & Technology (IJLT) is now accepting submissions for Volume 18. Please send in your submissions before October 31, 2021 in order for them to be considered. About the Journal The Indian Journal of Law and Technology (IJLT) is a student-edited, peer-reviewed, open access law journal published...
Competition Assessment in R&D Markets: A Double Edged Sword
[Bhawna Lakhina is a third-year student of National Law Institute University, Bhopal] Research and development (“R&D”) constitutes a significant factor driving competition in the current market scenario. Companies constantly strive to innovate newer and better products as well as technologies to enhance their position in the market. This is particularly evident in markets like...
Confidentiality Rings under Competition Law: Need for Ironing out Wrinkles
[Amritesh Anand and Krishnanunni U are penultimate year students at Nalsar University of Law, Hyderabad] Antitrust investigations, by their very nature, involve extensive access to commercially sensitive information of entities being investigated, some of which is inherently ‘confidential’. Hence, it becomes imperative for competition authorities to institute sufficient checks and balances in...
Online Certificate Course on the Insolvency and Bankruptcy Code
[Announcement on behalf of Fortitude Learning] Fortitude Learning is conducting an online certificate course on the Insolvency and Bankruptcy Code, 2016 from August 20 to August 23, 2021. About the Course This course is a 4 day course on the Insolvency and Bankruptcy Code, 2016 with an aim to provide the participants with an in-depth knowledge of the Insolvency Regime in India along with the...
Sustainability-Linked Bonds: The Next Frontier in Sustainable Finance?
[Umang Bhat Nair and Vedant Kashyap are fourth year BA. LL.B.(Hons.) students at the NALSAR University of Law, Hyderabad] Earlier this year, India witnessed its first issue of a Sustainability-Linked Bond (‘SLB’) by UltraTech Cement. This is in line with India’s endeavour to achieve all of UN’s Sustainable Development Goals by 2030. India also wishes to achieve a robust 175 gigawatt of renewable...
Invocation of Pledged Shares: Disqualification from Seat on Committee of Creditors?
[Viti Bansal is a fourth year student of B.A. LL.B. (Hons) at Gujarat National Law University] The Insolvency & Bankruptcy Code, 2016 (“IBC”), under section 21(2), provides that a related party to the corporate debtor who is also a financial creditor of the corporate debtor will have no right of representation, participation or voting in a meeting of the committee of creditors (“CoC”). The...
TRIPS Waiver and the Covid-19 Pandemic
[Prajjwal Rathore is a III Year B.A. LL.B. (Hons.) student at the National Law School of India University, Bangalore] With the proposal led by India and South Africa for waiver of certain obligations of the TRIPS Agreement given the COVID-19 pandemic, the international community has been polarised along the lines of development. While several developing countries support the proposal for the...
The NCLAT Decision in Hystone Merchants: Conferring Unruly Discretion
[Shubhansh Thakur is a fourth-year student at the Symbiosis Law School, Noida. The author wants to thank Mr. Deepak Joshi for his comments on the draft version] The National Company Law Tribunal (“NCLAT”) in Hytone Merchants Pvt Ltd v. Satabadi Investments Consultants Pvt. Ltd. has held that the Adjudicating Authority (“AA”) can refuse to admit an application that is...
Registration under MSMED Act and the SC Ruling in Silpi Industries
[Akansha Uboveja is a 5th year B.A.LLB (Hons.) student at Hidayatullah National Law University in Raipur, Chhattisgarh] The Supreme Court in its judgment dated 29 June 2021 in Silpi Industries v Kerala State Road Transport Corporationsettled the position of law regarding applicability of the Limitation Act, 1963 to arbitration proceedings initiated under section 18(3) of the Micro...
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