[Winy Daigavane and Pavan Belmannu are 4th year B.A.LLB. (Hons.) students at the National University of Advanced Legal Studies, Kochi] With the Insolvency & Bankruptcy Code (Amendment) Ordinance, 2020 coming into force, the operation of the Insolvency & Bankruptcy Code 2016 (IBC) has been suspended for a period of six months or a for a further period not exceeding one year. This...
UK’s Corporate Insolvency and Governance Bill, 2020: A Model for India?
[Apurva Vats and Vishal Bijlani are 2nd and 3rd year students respectively of National Law University Odisha] In the midst of a global pandemic, several nations have been working towards enhancing their insolvency regimes to mitigate the current situation. The Corporate Insolvency and Governance Bill published by the UK Government on 20 May 2020 is expected to be enacted as soon as possible if...
India’s Equalisation Levy: Perspectives and Tax Positions
[Hardeep Singh Chawla is an Advocate with an LL.M. in International Taxation from NYU School of Law. He may be reached at [email protected]] Much has been written about the expanded scope of the equalisation levy (“Levy” or “2020 Levy”) (see here and here) under the Finance Act, 2020. At a simplistic level, this Levy is introduced to capture into the tax net transactions that escaped...
Third Party Funding in International Commercial Arbitration: Confidentiality Concerns
[Sreeja Sengupta is a 3rd year B.A. L.L.B. Hons. student at the West Bengal National University of Juridical Sciences] Confidentiality of proceedings in commercial arbitration is one of its foremost advantages. Specifically, in the field of international commercial arbitration, which involves multinational companies and sometimes even state utilities, confidentiality assumes great significance as...
Post COVID-19 Mergers and the ‘Failing Firm Defence’ : A Need for CCI’s Proactive Role
[Parina Muchhala is a 3rd year student and Ira Pandya a 4th year student, both at the Maharashtra National Law University Mumbai] The effects of the COVID-19 outbreak has led to interruption of supply chains, reduction in consumer demand and disruption of economies. It has also led many companies to file for bankruptcy worldwide. This indicates that while COVID-19 has also negatively impacted...
Unpacking the English Court Decision in Enka v. Chubb: Reversing the Sulamérica Presumption?
[Satyajit Bose is a III year BA LLB (Hons) student at the National Law School of India University, Bengaluru] On 29 April 2020, the English Court of Appeal delivered its judgement in Enka Insaat ve Sanayi S.A. v. OOO “Insurance Co Chubb”. In a landmark decision, the Court held that in the absence of an express choice of governing law, it ought to be presumed that the parties had implicitly chosen...
Super Priority Financing: An Opportunity in a Crisis
[Apoorva Upadhyay and Parthsarthi Srivastava are 3rd year BBA.LL.B students at National Law University Odisha] As the economic conditions continue to deteriorate, several corporations will likely turn to file for bankruptcy protection in the near future. One of the most sought after alternatives for such distressed companies would be access to capital to ensure minimum liquidity and continuation...
Competition Conundrum during the Crisis
[Surbhi Lahoti is a fourth year law student at Government Law College, Mumbai] COVID-19, a health emergency, has taken an unprecedented toll on the world economy. The lockdowns in India have resulted in supply chain disruption and panic buying by the consumers even after multiple assurances from the Government. The Essential Commodities Act, 1955 regulates the prices of the essential goods and...
Buyers’ Cartels in Indian Competition Law: Is it Time?
[Adyasha Samal is a student at the Hidayatullah National Law University] On 20 February 2020, the Ministry of Corporate affairs sought public comments on the Competition (Amendment) Bill 2020, which proposes sweeping substantive and procedural changes to the Competition Act 2002 (the “Act”). Among these is the significant inclusion of buyers’ cartels within the definition of cartels in section...
Is the Indian Arbitration Regime suited for The IBA Rules On Evidence? – Part II
[Muskan Arora is a III year B.A. LL.B (Hons.) student at the West Bengal National University of Juridical Sciences, Kolkata] In the first part of this post, I critique the presence of an undefined good faith standard in imposing sanctions upon the parties in the International Bar Association Rules on the Taking of Evidence (‘IBA Rules’) pursuant to article 9(7) and how the same is particularly...
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