Blog Posts
-
India’s Attempt to Regulate SPACs: Sponsors in the Spotlight
[Anushri Uttarwar is a 4th year law student at O.P. Jindal Global University] On March 11, 2021, the Securities and Exchange Board of India (“SEBI”) formed a group of experts to study the viability of introducing structures like special purpose acquisition companies (“SPACs”) in India. Contrary to SEBI’s guarded position, the International Financial Services Centre…
-
Court’s Refusal to Appoint Arbitrators: An ‘Appeal’ to Create Appeal Mechanisms
[Abhijeet Shrivastava is a third-year law student and Anujay Shrivastava is a law graduate (class of 2020), both from Jindal Global Law School, Sonipat.] Recently, a three-judge bench of the Indian Supreme Court speaking through Nariman, J. in Pravin Electricals v. Galaxy Infra highlighted a crucial discrepancy of law in the Arbitration and Conciliation Act,…
-
Supreme Court Widens Scope of Moratorium on Criminal Proceedings
[Prachi Gupta is a fourth-year B.A., LL.B. (Hons.) student at the Institute of Law, Nirma University] On 1 March 2021, the Supreme Court in the case of P. Mohanraj v. Shah Brothers Ispat Pvt. Ltd. has put an end to a much-debated topic of applicability of moratorium under section 14 of Insolvency and Bankruptcy Code,…
-
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…
-
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…
-
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…
-
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…
-
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…
-
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…
