Blog Posts
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FDI in Multi-brand Retailing
The Government has reopened the debate on allowing foreign investment in the multi-brand retail sector. A discussion paper issued yesterday reviews existing studies conducted by the Government and other entities on this topic and also examines the experience in other emerging markets. The rationale for FDI in the retail sector is set out as follows:…
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The Issue of Limitation in Consumer Complaints
A recent note discusses the decision of the Supreme Court in Kandimalla Raghavaiah v. National Insurance, concluding that it is being misinterpreted, and lays down dangerous precedent for insurance claims. While the concern highlighted by the abovementioned note, that “consumers will continue to find themselves at the receiving end with genuine complaints being thrown out…
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“Professional Services”
It is often said that the importance of careful analysis of statutory language cannot be overstated, especially in fiscal matters. One will not be surprised to find, therefore, that the term “professional services” has recently engendered an interesting controversy as to its true scope. It arose before the Bombay High Court in Dedicated Health Care…
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Extra-Territoriality of U.S. Securities Laws
Given the robust nature of the class action mechanism in the U.S., it is hardly surprising that plaintiffs rush to initiate legal actions before the U.S. courts even in relation to foreign companies that have issued securities listed on non-U.S. stock exchanges. U.S. courts have been left to combat with what are known as “foreign-cubed”…
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Court of Appeal on the ‘True and Fair view’
In an earlier post, Shantanu had discussed the judgment of the England & Wales High Court in Macquarie Internationale Investments Ltd. v. Glencore UK Ltd. The decision of the High Court has been upheld on appeal by the Court of Appeal in a judgment available here. The Court of Appeal observes (paragraphs 51, 52 and 54) in…
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ULIPs regularised, Insurance companies given absolution
As reported in the press, the President has finally issued an Ordinance dated 18th June 2010, coming into effect immediately from that date, for, what I would call, “regularising” ULIPs. I use that word because not only it is declared that ULIPs (as very widely defined) issued by an insurer are life insurance business but…
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Webinar on ‘Revision of the ICC Arbitration Rules’
(The following post comes to us from Rohan Bagai, who has previously contributed posts on this Blog here and here) The International Chamber of Commerce (ICC) Court of Arbitration Secretary General, Mr. Jason Fry and Ms. Francesca Mazza, Counsel and Secretary to the ICC Commission on Arbitration are set to impart their knowledge and share…
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The “right” of retention
It is generally accepted that a defendant in an action for damages cannot exercise the right of “set-off” on the basis of a mere “claim”, which has not crystallised. For example, while the law permits a defendant to set off debts owed to him by the plaintiff against a successful claim in court, he cannot…
