Distinct and mandatory processes Introduction With the increasing burden on Civil Courts, the Legislature has, under various statutes, provided that disputing parties first undergo mandatory conciliation or mediation processes prior to initiating arbitration or approaching Civil Courts. The effect of such provisions is that they act as a mandatory pre-cursor to initiation of arbitration …
A Reminder by the Supreme Court When the Insolvency & Bankruptcy Code, 2016 (“IBC”) was notified in 2016, one of its most talked about provisions was the limited scope of adjudication and consequently narrow jurisdiction conferred upon the National Company Law Tribunal (“NCLT”) in deciding insolvency cases. In fact, the provisions of the Code in …
India’s quest for a data protection regime can be traced back to when the idea was first mooted in the Indian Parliament in 2008, when an amendment to the Information Technology Act, 2000 (“IT Act”) was proposed. The introduction of the new Section 43A under the Information Technology (Amendment) Act, 2008 (“Amendment”) inter alia put …
The Journey of India’s Data Protection Jurisprudence Read More »
Introduction On 9 August 2021, the Reserve Bank of India (“RBI”), with a view to liberalize the regulatory framework pertaining to overseas direct investment (“ODI”) and also to promote ease of doing business, decided to rationalize the existing provisions governing ODI. Accordingly, the RBI published two drafts on its forum – i.e., the draft Foreign …
In recent years, the financial activities in India have grown exponentially. As a result, the reliance on financial instruments such as bonds and guarantees have increased. The companies undertaking such financial instruments subject themselves to higher risks of non-payment by other party or insolvency and bankruptcy. To mitigate such risks, specialised insurance products have been …
Decoding Surety Insurance and Trade Credit Insurance Read More »
Liability of senior management and directors has assumed the centre stage of discussion in India against the backdrop of new laws expanding the scope of director’s liability, headline grabbing boardroom battles and unpleasant run-ins of global giants with regulators. The legislative changes have brought into focus the corporate governance practices in India, with an added …
Accountability of Personal Guarantors under the Insolvency & Bankruptcy Code, 2016: Supreme Court of India lays controversy to rest Introduction In December 2019, certain provisions of the Insolvency and Bankruptcy Code, 2016 (the “Code”) came into force by a notification dated November 15, 2019 (the “Notification”). This set into motion, certain provisions for initiating insolvency …
An analysis of the civil contempt jurisdiction of Indian Civil Courts I. Introduction In India, as also across the globe, courts of law demand strict adherence to their directions. This becomes necessary, to maintain the dignity of the Courts and uphold the majesty of law. However, the ground reality remains, that parties do not always …
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 …
