[Sri Janani Seenivasan and Krishna Ravishankar are 4th year B.A., LL.B. (Hons.) students at National Law University, Jodhpur] The Goods & Services Tax (GST) Compliance Rating is a system introduced by the Indian government under section 149 of the Central Goods and Services Tax Act, 2017 (‘CGST Act’), to assess the compliance behavior of the taxpayers. This system assigns a rating or score to...
Timeline of filing Application under Section 29A for Extension of Time
[Megha Shaw is an advocate practising in the Supreme Court of India and Sachdev Sharma is a law graduate of NUJS, Kolkata] In Rohan Builders (India) Private Limited v. Berger Paints India Limited (12 September 2024), a division bench of the Supreme Court of India decided on whether an application for extension of time under section 29A of the Arbitration and Conciliation Act, 1996 (the “A & C...
Disparate Voting Mechanisms for Authorised Representatives under the IBC: Homebuyers’ Interests?
[Paras Khetan is a 3rd year BA.LLB (Hons.) student at the National Law School of India University in Bangalore] Recently, the National Company Law Appellate Tribunal (NCLAT) in Vijay Saini v. Devender Singh had the opportunity to interpret section 25A(3A) of the Insolvency and Bankruptcy Code, 2016 (IBC) in the context of a withdrawal application under section 12A of IBC. The NCLAT applied...
Advancing the Objectives of IBC: Why Arbitration Should Persist During Moratorium Periods
[Arunoday Rai is a 3rd-year B.A., LL.B. (Hons.) student at the National Law School of India University, Bangalore] There has been sufficient literature arguing for reconciliation between insolvency and arbitration proceedings. This post argues for the continuation of arbitration proceedings as it furthers the objectives of insolvency and enhances its efficiency. It critiques the position taken by...
Inherent Powers of the NCLT to Recall an Insolvency Resolution Plan
The Insolvency and Bankruptcy Code, 2016 (IBC) lays emphasis on an elaborate process by which a corporate insolvency resolution plan (CIRP) can be proposed, considered, decided, and approved. The principal actors involved in the process include the resolution professional, the committee of creditors (CoC) and the adjudicating authority (being the National Company Law Tribunal (NCLT) and, on...
Resolution Professional as the Occupier: A Recipe for Disaster?
[Tanish Arora is a 3rd year B.B.A.LL.B. student at National Law University Odisha] In December 2023, the Madras High Court in Subrata Monindranath Maity v The State, Represented by Deputy Director, Industrial Safety and Health-II stipulated that a person who is the resolution professional (“RP”) in respect of an establishment is also an occupier under the Factories Act, 1948. Hence, the RP would...
Navigating the Doctrine of Election under the IBC
[Akshita Shrivastava is a IV year B.A.LL.B. (Hons.) student at National Law Institute University in Bhopal (M.P.)] The doctrine of election, a fundamental principle in evidentiary law, has been a subject of extensive discussion and legal interpretation in recent times, particularly in its application within the intricate landscape of insolvency and bankruptcy proceedings. This doctrine comes into...
Unravelling the Rights of Successors vis-à-vis Nominees to the Shares of a Company
[Snigdha is a 3rd year B.A., LL.B. student at Gujarat National Law University, Gandhinagar] The Supreme Court on 14 December 2023 in Shakti Yezdani v. Jayanand Jayant Salgaonkar settled the position of conflict between the rights of a nominee under section 109A of the Companies Act, 1956 (the “Act”) and that of a successor to the shares/securities of a company. The Court clarified the...
Supreme Court Holds Maternity Benefits Could Extend Even Beyond Contractual Term
[Lavanya Chawla is an Associate at J-Law Offices, New Delhi.] A three Judge bench of the Supreme Court in Dr. Kavita Yadav v The Secretary, Ministry of Health and Family Welfare Department & Ors (17 August 2023) held that if a woman has worked in an establishment for 80 days, she would be eligible for full maternity benefits, even if such benefits exceed the term of contract. Facts An...
IBC Overrides Electricity Act: Capturing the Fallacy in Rainbow Papers
[Praveen Sharma is a 5th Year Student at MNLU Mumbai] Recently in Paschimanchal Vidyut Vitran Nigam Ltd. v. Raman Ispat Private Limited, the Supreme Court of India ruled that the Insolvency and Bankruptcy Code, 2016 (IBC) overrides the Electricity Act, 2003. While dismissing the appeal of Paschimanchal Vidyut Vitran Nigam Limited (PVVNL), the Court provided crucial clarification regarding the...
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