TagInterpretation of statutes

Validity of Arbitration Clause in Unstamped Instruments: The Saga Continues

[Abhishek Mishra is an alumnus of Symbiosis Law School, Pune and practices at the Delhi High Court] By way of its judgment dated January 11, 2021 in N.N. Global Mercantile Pvt. Ltd. v. Indo Unique Flame Ltd., the Supreme Court reopened the seemingly settled issue of whether non-payment of stamp duty on a contract will invalidate the constituent arbitration clause as well. Due to contrary...

FIU’s Penalty on PayPal: The Wisdom of Jurisprudence by Committee

Last week, the Supreme Court’s order constituting a committee to settle the ongoing farmer agitation was critiqued across the entire spectrum of left-to-right wing commentary. At about the same time, in a case involving PayPal, a popular online payment gateway service in India, the Delhi High Court passed an order directing the Finance Ministry to set up a committee to address the following...

Examining the Issues with Free Supplies under GST

[Manasvin Andra is a 4th year B.A., LL.B. (Hons.) student at NALSAR University, Hyderabad] Promotional offers have long been used by companies to draw attention to their products. These strategies have generally proved successful, as they incentivise consumers to buy more of the designated good. However, the tax treatment of these free supplies changed with the emergence of the GST, leading to...

Establishing Locus Standi under the Competition Act: A Problem-Solution Mismatch

[Kajal Singh and Nikunj Maheshwari are 4th year law students at Institute of Law, Nirma University] The Competition Act, 2002, is a comprehensive piece of legislation intended to identify and curb any anti-competitive practices, which goal is sought to be achieved by the Competition Commission of India (CCI). In furtherance of the same, the CCI has been vested with powers to initiate an inquiry...

Delhi High Court on Amended Timelines under the Arbitration and Conciliation Act

[Divyansha Agrawal and Kanwar Abhay Singh are practicing lawyers at the Delhi High Court and are associate lawyers with Advani and Co.] Section 29A of the Arbitration and Conciliation Act, 1996 deals with the time limit for passing an arbitral award. Currently, the Act provides a time limit of 12 months after the pleadings are complete for the tribunal to complete the arbitration proceeding and...

Exemptions to Wholly Owned Subsidiaries: Do they Call for a Revision?

[Shubham Sancheti is a 4th year B.A., LL.B. (Hons.) student at NALSAR University of Law in Hyderabad] The Securities and Exchange Board of India (“SEBI”) recently availed an opportunity to interpret regulation 37(6) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). It provided an interesting yet contestable interpretation of the regulation...

Analysis of the Material Adverse Change Clause in the Indian Context

[Guest post by Tushit Mishra, who is a Third Year Student at NALSAR University of Law] Introduction The economic viability of an agreement in securities transactions is subject to a wide range of factors, due to which agreements concerning mergers and acquisitions (M&A) are constantly under a cloud of uncertainty. The past realization of such uncertainty with regards to risk mitigation and...

Legal Rights and the Vicissitudes of a “Comma”

“For want of a comma, we have this case”: thus began a judgment of the United States Court of Appeals For the First Circuit rendered earlier this week in O’Connor v. Oakhurst Dairy. The punctuation mark in question was more specifically the “Oxford comma”, which has been referred to as “an optional comma before the word ‘and’ at the end of a list”. This case involved a law enacted in...

‘Second Instance’ Arbitration: Centrotrade Minerals

In an important decision, the Supreme Court has recently held that the Indian Arbitration and Conciliation Act 1996 (‘the 1996 Act’) does not prohibit the parties from entering into an arbitration agreement that provides for an appeal from the first award to a second arbitral tribunal constituted under that agreement. The decision, however, also gives rise to further questions—not all of which...

What is a Foreign Company Under the Companies Act?

[This guest post is contributed by Ananya Banerjee, who is a Fifth year B.A.LLB(H) Student, Department of Law, University of Calcutta. The post relates to an interpretation of certain provisions of the Companies Act, 2013, and represents the view of the author, which have been backed up by arguments and reasoning. The possibility of alternative views and interpretation cannot be ruled out] This...

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