TagContract Law

The Smart Contract Revolution

[Vrinda Vinayak is a 4th year B.A., LL.B (Hons.) student at the National Law University, Delhi] Background The concept of smart contracts was first envisaged by Nick Szabo in 1994. Such contracts consist of three essential elements. They are – (i) negotiated, coded and executed over the blockchain, in simple ‘yes-no’ or ‘if-then’ terms, (ii) authenticated by anonymous...

Legal Issues Surrounding Online Card Gaming

[Meenal Maheshwari Shah is the legal counsel for Brand Capital, the investment arm of the Times of India Group] A vast population in India likes to engage in card games, especially rummy and poker. It naturally follows that with the advent of internet, they are fixated on the websites which host such games for stakes.     Legal Framework Gaming with stakes falls within the purview of gambling...

The Battle of Forms

[Narayan Gupta is a final year law student at Jindal Global Law School, Sonepat] Introduction This post seeks to envisage the problems that arise in the Battle of Forms and the solutions to tackle them. Before we get into the problems encapsulated in the Battle of Forms, it is necessary to understand what leads us to that concept. As the name suggests, it is a battle between ‘forms’, which refers...

Recovery Proceedings against Guarantors during the Insolvency of the Principal Debtor

[Milind Gaur is a 5th Year BBA LLB student of Symbiosis Law School, Pune.] Introduction With the dawn of the Insolvency and Bankruptcy Code, 2016 (the Code), a crucial and much needed framework was set in place for tackling the insolvency and bankruptcy regime in India. At the same time, the Code has elicited clarifications and interpretation across various provisions. One such question which...

The Legality of Smart Contracts in India

[Rishi A is legal analyst at spotdraft.com] Introduction Earlier this year, the State Bank of India (‘SBI’) launched BankChain, a blockchain platform formed by a consortium of 27 banks, which was proposed to be used to share e-KYC information about customers within the consortium. This would help with the transmission of information directly to the banks without any leakages or delays. Last week...

The Ambiguous Treatment of Non-Compete Covenants in Joint Venture Agreements

[Anubhuti Maithani is a 2nd year B.A. LL.B. (Hons.) student at NALSAR University of Law in Hyderabad, India] A non-compete clause (NCC) is a restrictive covenant, frequently found in combination agreements like mergers and acquisitions (M&A) and joint venture agreements, that prohibits one party from competing with the other on terms stipulated therein. In other words, it restricts one party...

Unexplored Antitrust and Contract Law Issues In Indian Transport Aggregation

[Arjun Agarwal is a 5th year student at WB National University of Juridical Sciences, Kolkata and Pragya Dahiya a 4th year student at Jindal Global Law School, Sonipat. The authors can be contacted at [email protected]] Much has been written about anti-trust issues surrounding the practices adopted by the likes of Uber and Ola in India. Hardly any attention has, however, been paid to the...

Strict Interpretation or Purposive Interpretation? Analysing the Sanjeev Shriya Case

[Guest post by Deeksha Malik, who is a is a fifth-year student of National Law Institute University, Bhopal. An earlier post on the topic is available here.] Ever since the Insolvency and Bankruptcy Code, 2016 (the “Code”) came into force, the Indian judiciary has been dealing with a number of cases that have required it to interpret various provisions of the Code. A review of the relevant...

Employee’s Right to Sue after Obtaining Full and Final Settlement from Employer

[Guest post by Ravi Pandey, IX Semester, National Law University, Lucknow] Full and final settlement is usually used by the employers to absolve themselves from all the previous dues and claims of their employees. It is usually actuated in the form of a settlement contract and effectively concludes the employer-employee relationship. Ideally such a settlement ought to serve its purpose and lead...

Liability of Personal Guarantors of a Corporate Debtor during the Corporate Insolvency Resolution Process

[Guest post by Param Pandya, Research Fellow, Corporate Law and Financial Law, Vidhi Centre for Legal Policy, New Delhi. The views expressed by the author are personal.] On September 6, 2017, the Allahabad High Court in the case of Sanjeev Shriya vs. State Bank of India (“Sanjeev Case”) decided the question of the liability of personal guarantors of a company where moratorium under section 14 of...

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