Month: February 2022

While tabling the Union Budget 2022-23, the Union Finance Minister Nirmala Sitharaman said that the budget will be guided by the PM Gati Shakti Master Plan (“Gati Shakti Plan”). The Gati Shakti Plan is an infrastructure initiative driven by seven engines which includes roads, railways, airports, ports, mass transport, waterways, and logistics infrastructure. It aims …

Promoting Ease of Doing Business with National Single Window System Read More »

 Insurance is a contract, by which one obtains financial protection, by payment of a fixed amount called a ‘premium’, in exchange for payment of a certain fixed amount (which is a multiple of the premium) known as the ‘sum assured’ under the policy, upon the happening of a certain event. Insurance, like every other contract …

The nexus between trust and uberrima fides- the principle of utmost good faith in insurance Read More »

Background Arbitration is an alternative dispute resolution mechanism, wherein parties agree to submit their dispute to one or more arbitrators, without resorting to the more conventional way of litigation- through Courts or Tribunals.  As striking feature, Arbitration gives freedom to the parties to choose the person(s) or arbitrator(s) to resolve their disputes arising under the …

Unilateral Appointment of Arbitrator Read More »

The Launch Indian policymakers have wrestled for more than a few decades to solve the twin balance sheet problem of overleveraged companies and bad-loan-encumbered banks. Indecisiveness, delays in resolution of bad loans and reaching consensus have resulted in unprecedented challenges. Consequently, banks evergreen non-performing assets (“NPAs”) while credit and investment functions take a back seat. …

Resolving the NPA Conundrum: Bad Bank to the Rescue Read More »

The much-awaited Union budget (“Budget”) for the financial year 2022-2023 was presented in the Parliament on 1 February 2022 by the Hon’ble Finance Minister. The following are 10 key takeaways and highlights from the budget announcements from a direct tax perspective.  1. Tax rates– The Budget does not provide for any changes in the income …

Top-10 key Direct Tax takeaways from Budget 2022  Read More »