Tag: Constitution of India
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NCLAT Excludes Proceedings under the Constitution from Moratorium
[Guest post by Aayush Mitruka, a lawyer based in Delhi.] In an earlier post, I had discussed the moratorium provision (i.e., section 14) under the Insolvency and Bankruptcy Code, 2016 (the “Code”), the legislative intent behind the provision and its impact on proceedings for dishonor of cheques under the Negotiable Instruments Act, 1881. More recently, in…
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Supreme Court Affirms Creditor-Friendly Nature of Insolvency Law
[Posted by Umakanth Varottil] Background The Supreme Court yesterday delivered its first substantive ruling under the Insolvency and Bankruptcy Code, 2016 (the “Code”) in Innoventive Industries Limited v. ICICI Bank. Incidentally, this relates to the first corporate insolvency case to be admitted by the National Company Law Tribunal (“NCLT”) after the Code came into effect…
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Gujarat High Court Rules on RBI’s Powers Relating to Corporate Insolvency
[Posted by Umakanth Varottil] [Guest post by Saurav Roy, IV B.A.LL.B, ILS Law College, Pune.] Introduction Last week, the Gujarat High Court ruled on some interesting issues under the Insolvency and Bankruptcy Code 2016 (“IB Code”) while adjudicating upon a writ petition filed by Essar Steel Ltd., (“Essar”) against the Reserve Bank of India’s (“RBI”)…
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The Supreme Court on the SAT’s jurisdiction over SEBI Circulars
[Posted by Umakanth Varottil] Normal 0 false false false EN-GB X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; text-align:justify; line-height:110%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Times New Roman”; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:EN-GB;} [Guest post by Amitabh Robin Singh, who is a corporate lawyer…
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PPPs: Public Law Matters, Doesn’t It?
[Posted by Umakanth Varottil] [The following post is contributed by Santanu Sabhapandit, who is pursuing his doctoral studies at Monash University, Melbourne, Australia] The need for better infrastructure in India cannot be overemphasised. Availability of necessary funds, innovative skills and efficient implementation of projects are some of the key requirements if any of the targets…
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Taxing E-Commerce through State entry tax laws – a short-term revenue maximisation strategy
[Posted by Satyajit Gupta] [The following is an article published in Business Standard today on the recent trend of taxing E-Commerce through entry tax – authored by Sudipta Bhattacharjee, Principal – Tax Controversy Management, Advaita Legal (views are personal). The final concluding paragraph was not part of the published article, and has been added for…
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Supersession of Bond Terms by State Legislation Disallowed
[Posted by Umakanth Varottil] In Kalyan Janta Sahakari Bank v. State of Gujarat, a division bench of the Gujarat High Court was concerned with whether a legislation passed by the Gujarat State Legislature can unilaterally alter the terms of an issue of bonds by the government company to the detriment of the bond investors. The…
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Competition Law: Analysis of the COMPAT Order in Surendra Prasad v. CCI
[Posted by Umakanth Varottil] [The following guest post is contributed by Sarthak Raizada and Kartikey Kulshreshtha, who are 4th year students at Dr. Ram Manohar Lohiya National Law University, Lucknow.] Introduction The Competition Act, 2002 (the “Act”), while still in the early stages of its development in India, has witnessed immense litigation. The Competition Commission…
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Supreme Court Paves the Way for Company Law Tribunal
[Posted by Umakanth Varottil] Readers may recall that the primary reason for the partial effectiveness of the Companies Act, 2013 (the “2013 Act”) has been the pending litigation surrounding the constitution of the National Company Law Tribunal (“NCLT”) and the National Company Law Appellate Tribunal (“NCLAT”). Hence, the provisions of the 2013 Act that relate…
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Delivering Private Sector Efficiency within Public Law Principles
[Posted by Umakanth Varottil] [The following guest post is contributed by Santanu Sabhapandit, who works as a legal consultant. He can be reached at: Sabhapandit@gmail.com. This is an abridged version of author’s article “Application of Public Law Principles to Entities Implementing PPPs in India: The Current ‘State’ of Affairs” published in Public Procurement Law Review…