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Proactive approach needed to fight counterfeiters

A call to action

Combatting counterfeiters is never easy, but often the very survival of quality enterprises is on the line. The stakes are high so the right strategies are key, write Ami Parikh and Bhavesh Haria, in-house...
How and when should arrests be communicated (1)

How and when should arrests be communicated?

In the case of Ram Kishor Arora v Directorate of Enforcement, the Supreme Court had to deal again with the procedure by which the Enforcement Directorate (ED) is to arrest an accused. The appellant...
Supreme Court tax regime for online gaming

Supreme Court to set tax regime for online gaming

By Shankey Agrawal, and Lopamudra Mahapatra, BMR Legal
The world of taxation has witnessed many regulatory controversies in the past, but very few have held the attention of policymakers like the online gaming industry has managed to do lately. India has experienced...
Lawyers' long work hours in India

Punching the clock

An elderly billionaire’s comments about working long hours has fuelled a firestorm. Katherine Abraham quizzes members of the legal fraternity about the merits of working tirelessly in a profession notorious for its skewed work-life...
IBLJ Deals of the year 2023

Deals of the Year 2023

India Business Law Journal reveals 50 standout deals and disputes of 2023, and the law firms that successfully concluded them The year 2023 will be remembered for its several notable highs for corporate India –...
Unlawful occupation compensated

Unlawful occupation compensated after three decades

In the recent case of Rajeev Kumar Damodarprasad Bhadani and Ors v The Executive Engineer, Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Ors, the Bombay High Court ordered MSEDCL to acquire the land of...
Fali Nariman obituary

‘Doyen of the bar’ Fali Nariman a guardian of the constitution

The passing of India’s first additional solicitor general, Fali Sam Nariman, on 21 February 2024, at 95, marks the end of an era as India loses one of its finest first generation of lawyers...

Flow interrupted!

The central bank’s move to curb evergreening loans looks set to backfire as the future of alternative investment funds may hang in the balance, writes Freny Patel Many non-bank finance companies (NBFCs) are running pillar-to-post...

Gathering dust

With more than 50 million cases pending at courts across the country, India holds the dubious distinction of one of the largest backlogs of cases in the world, with decades-old commercial disputes burdening litigants,...
dissenting financial creditors

Securing the rights of dissenting financial creditors

By Nishtha Arora and Srishti Bansal, SNG & Partners
In the recent case of DBS Bank Limited Singapore v Ruchi Soya Industries Limited and Anr, the Supreme Court held that in the insolvency proceedings of a corporate debtor, the dissenting financial creditors were...

Building an infrastructure superhighway

Mukul Shastry details how state and central governments can plug the legal and regulatory gaps holding back the infrastructure sector Human civilisation has been in existence for at least 5,000 years. During much of those...
Constitution upholds arbitration neutrality

Constitution upholds arbitration neutrality, party autonomy

The Supreme Court recently held, in Lombardi Engineering Limited v Uttarakhand Jal Vidyut Nigam Limited, that any arbitration clause inconsistent with the constitution is invalid. The court also held that it can determine if...
property commercial contracts jurisdiction

Disputed jurisdiction for property, commercial contracts

In the recent case of Sanjay Suganchand Kasliwal v Golden Dreams Buildcon Pvt Ltd and Ors, the appellant appealed to the Bombay High Court against the refusal of the civil court to hear the...
ACIL Limited Insolvency Case

Reasoning at the heart of decision

The Supreme Court recently held, in Ramkrishna Forgings Limited v Ravindra Loonkar, Resolution Professional of ACIL Limited and Anr, that when the National Company Law Tribunal (NCLT) invoked section 31(2) of the Insolvency and...
Karthik Somasundaram joins Spice Route Legal

Karthik Somasundaram boosts Spice Route’s disputes practice

Karthik Somasundaram has joined Spice Route Legal’s disputes practice as a partner based in the Mumbai office. Somasundaram has more than two decades of experience and is widely recognised for his proficiency in TMT, IP,...

Ensuring liquidation preference to protect investor rights

By Parag Bhide and Mitali Kshatriya, Bharucha & Partners
Investment agreements generally include provisions for liquidation preference. Investors have the right to receive a specific amount before other shareholders on the occurrence of pre-defined liquidation events such as acquisitions, the merger and sale...

Literal or liberal interpretation in extending arbitration

By Sudeshna Guha Roy and Ayush Chaturvedi, Bharucha and Partners
In 2015, section 29A was added to the Arbitration and Conciliation Act, 1996 (act), to provide that the arbitral tribunal must make an award within 12 months of the close of pleadings. This period...
Billing rates survey in Indiavideo

The value vector

Law firms are going the extra mile to prove their intrinsic worth to corporate counsel, but are their billing innovations paying off? Vandana Chatlani reports Almost 4,000 companies listed on India’s stock exchanges spent USD7.54...
Fiduciary responsibility implications

Data dilemma

The very definition of a keeper of data has ramifications for how the relationship between users and processors in India will evolve, and in turn how laws must adapt to protect and regulate, writes...

Stirring up a hornet’s nest

The Supreme Court of India has set up a seven-judge bench to reconsider a ruling on unstamped or insufficiently stamped agreements. Indrajit Basu looks at the controversy surrounding the original judgment Editor's note In December 2023,...
Dentons LL secures NCLT approval

Dentons LL secures NCLT approval for ACIL resolution plan

Dentons Link Legal represented the resolution professional, Ravindra Loonkar, for ACIL to secure approval from the National Company Law Tribunal (NCLT) for the resolution plan proposed by Ramakrishna Forgings. The plan, previously sanctioned by an...

The unexpected GST burden on Japanese corporate guarantees

By Reena Asthana Khair and Vrinda Bagaria, Kochhar & Co.
The Goods and Services Tax (GST) was a game-changer in the financial and corporate sectors. Recent changes to the GST have significant implications for Japanese companies in India, particularly how corporate guarantees are taxed. Corporate...
Arbitrators' decision-making standards

Arbitrator autonomy still demands proper decision-making

The Supreme Court held, in Batliboi Environmental Engineers Limited v Hindustan Petroleum Corporation Limited and Anr, that the arbitrator has the right to interpret terms of a contract in a reasonable manner, and such interpretation...

Arbitrator still in place despite unilaterally adjusting fees

By Sneha Jaisingh and Zashank Mehta, Bharucha & Partners
Chennai Metro Rail Limited (CMR) awarded a public tender to M/s Transtonnelstroy Afcons (JV) (Afcons). Afcons invoked arbitration when disputes arose and a three-member tribunal was constituted. The parties agreed that each arbitrator would...
Cross-border tax in India

Cross-border tax sole benefit still a good object

By Mukesh Butani and Pranoy Goswami, BMR Legal
Foreign Direct Investment (FDI) in India has greatly increased in the past decade, particularly after the pandemic. This has led to more cross-border transactions in which foreign investors transfer their company holdings as a...

Supreme Court’s stand on unstamped arbitration agreements

By Ila Kapoor and Surabhi Lal, Shardul Amarchand Mangaldas & Co
Against the background of a roller-coaster ride of conflicting rulings, the Supreme Court in its recent judgment in In Re: Interplay Between Arbitration Agreements Under The Arbitration And Conciliation Act 1996 and the Indian Stamp Act...
Importance of Patent Rules compliance

Adhere to the patent rules or else

By Manisha Singh and Shilpa Priyadarsini, LexOrbis
Delhi High Court stressed the importance of following the Patent Rules, 2003 (rules), and the significance of compliance in the recent case of Akebia Therapeutics Inc v the Controller General of Patents, Design, Trademark and...

Fresh directions

National Company Law Tribunal Mumbai counsel Mansi Kaku explores crucial changes that the insolvency board seeks to better align the corporate insolvency resolution process and overcome significant challenges It is often said that, in...
India Business Law Journal

The almighty stamp

Court judgment leaves disputes community unhappy Earlier this year, the Supreme Court of India delivered a controversial ruling, which stirred heated debates and concern among disputes lawyers across India. The judgment, rendered by a five-judge Constitutional...
power ownership clarity

Top court provides clarity on captive power generation

By Mani Gupta and Rahul Bangia, Sarthak Advocates & Solicitors
The Supreme Court judgment in M/s Dakshin Gujarat Vij Company Limited v M/s Gayatri Shakti Paper and Board Limited and Anor (Dakshin Gujarat) settles long-standing issues related to captive generation plants and the use...
dishonored cheques liability

Liability of directors for dishonoured cheques

The Supreme Court recently reaffirmed the principles relating to the liability of a director of a company for the dishonour of a cheque issued by the company. In Siby Thomas v M/S Somany Ceramics...

Making room for confessions

The inclusion of the settlement and commitment regulations in the amended competition law is set to boost the credibility of India’s antitrust commission and promote fair play in the market. But stakeholders see room...

Workplace harassment not to be shrugged off

By Anirudh Mukherjee and Pankaj Anil Arora, Kochhar & Co.
As most companies in India return to the work-from-office model, increased on-site interactions make it imperative for employers to put in place robust mechanisms that effectively address workplace harassment. An employee’s misconduct often results...
RBI revamps defaulter guidelines

RBI revamps defaulter guidelines in draft paper

The Reserve Bank of India (RBI) has unveiled a draft paper of proposed revisions to the guidelines for handling wilful defaulters. According to the bankers’ bank, the suggested changes encompass an expanded scope for regulated...
Dentons acts for Educomp Solutions

Dentons Link Legal acts for Educomp Solutions at NCLT

Dentons Link Legal has assisted Educomp Solutions to secure approval from the National Company Law Tribunal (NCLT) for the resolution plan proposed by Ebix Singapore. Educomp Solutions is an edtech company that has been undergoing...
urgent interim reliefvideo

No room for camouflaged urgent interim relief

By Sonam Gupta and Shiva Pande, Bharucha & Partners
Section 12A of the Commercial Courts Act, 2015 (act), provides that no commercial case may be brought until the parties have attempted to resolve their dispute through pre-institution mediation in accordance with its associated...

Saraf adds partners to boost new Hyderabad branch

Saraf and Partners has established a new office in Hyderabad to solidify the firm’s presence in the region. Heading the Hyderabad office are partners Durga Bose Gandham and Altaf Fathima who have joined from DSK...

The clouds of Rainbow Papers roll away

By Karthik Somasundram, Bharucha & Partners
The Supreme Court’s judgment in State Tax Officer v Rainbow Papers Limited was widely criticised for disregarding the waterfall mechanism of the Insolvency and Bankruptcy Code, 2016 (IBC). This prioritises the claims of workmen, secured creditors,...
Judicial intervention arbitration

Arbitration: reins tighten on judicial intervention

A fundamental principle of India’s arbitration law is to have limited judicial intervention in the process. It is a principle that balances the sanctity of arbitration agreements against access to justice when necessary. The...
Dissenting arbitrator's opinion

Dissent is not award

The Supreme Court, in Hindustan Construction Company Limited v National Highways Authority of India, held that the dissenting opinion of an arbitrator cannot be treated as an award if the majority award is set...
Cyril Shroff, Vijayendra Pratap Singh take up new SIAC roles

Cyril Shroff, Vijayendra Pratap Singh take up new SIAC roles

The Singapore International Arbitration Centre (SIAC) has appointed new members of the board of directors and the court of arbitration. Cyril Shroff, managing partner of Cyril Amarchand Mangaldas, is now a director to the SIAC...
IBC over Electricity Act

Insolvency and Bankruptcy Code prevails over Electricity Act

By Mani Gupta and Aman Choudhary, Sarthak Advocates & Solicitors
The Supreme Court (SC) recently held that the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), override those of the Electricity Act, 2003 (act), so far as they relate to the recovery of...
Shashank Shekhar Tushar Joshi DMD tax practice partnership

Shashank Shekhar, Tushar Joshi quit Trilegal to work at DMD

Partner Shashank Shekhar and principal associate Tushar Joshi, both formerly colleagues at Trilegal, have moved to DMD Advocates to solidify the firm’s tax practice. Shekhar is a tax lawyer with a more than 20-year track...
Shivani Khandekar Singhania partner

Shivani Khandekar quits Trilegal, joins Singhania as partner

Shivani Khandekar has joined Singhania & Co’s dispute resolution practice as a partner after quitting her role at Trilegal. Khandekar had been working with Trilegal since 2017 and was a counsel with the team’s dispute...

Touching down on workplace evolution

By Shashank Jain and Ayushi Yadav, TATA SIA Airlines (Vistara)
Beyond navigating employment laws, in-house counsel are ensuring their organisations grasp forward-looking inclusion issues to create an attractive workplace. TATA SIA Airlines (Vistara) legal executives Shashank Jain and Ayushi Yadav examine the new rules...

Mediation Bill to reduce backlog

India’s Mediation Bill (2021) has been passed by both houses of parliament to alleviate the staggering backlog of court cases. The bill, which was given the green light by the Rajya Sabha (upper house) and...
Influence marketing on investment decisionvideo

The influence marketing has on investment decisions

By Vandana Pai and Hardik Dave, Bharucha & Partners
Influencer marketing, before known as word-of-mouth marketing, is now a primary marketing strategy for many businesses. It targets audiences using individuals who have established a relationship of trust with those audiences and who initiate...
Legal amendments face fairness test

High court rules amendments face twin test

A dispute over car parks has led to a high court ruling that any documents added to civil proceedings must meet a twin test of fairness under amendments to the Code of Civil Procedure. The...
smoother aircraft runway under new billvideo

Aircraft lessors hope for a smoother runway under new bill

By Sudeshna Guha Roy and Jyotiranjan Nayak, Bharucha & Partners
India is the third largest aviation market globally, with 80 per cent of its commercial fleet leased, compared to the global average of 53 per cent. The Convention on International Interests in Mobile Equipment...
bad faith trademark cancellation

Bad faith means no trademark protection

By Manisha Singh and Omesh Puri, LexOrbis
In the rectification petition, BPI Sports LLC v Saurabh Gulati and Anor before Delhi High Court, the petitioner, a prominent company in the dietary and nutritional supplements sector, succeeded in cancelling a registered mark on...

Leave under a cloud leave shares behind

By Swathi Girimaji, Bharucha & Partners
Bad leaver provisions are often included in shareholders’ agreements in start-ups, particularly up to series C rounds of funding. Their purpose is to discourage a founder from leaving the business after raising institutional investment...

Limitation clock still runs despite settlement talks

By Sneha Jaisingh and Abraham Fernandes, Bharucha & Partners
In 2012, the Ministry of Defence (MoD) and B and T AG (BTAG) entered into a contract for BTAG to supply sub-machine guns to the MoD. As BTAG delayed supplying the goods, the MoD...
Evolving jurisprudence of arbitrability of fraud

Evolving jurisprudence of arbitrability of fraud

By Faranaaz Karbhari, Mahafrin Mehta and Sharan Shetty, HSA Advocates
Operating on the tenets of party autonomy, the arbitration clause has become a boilerplate in most commercial contracts. The Arbitration and Conciliation Act, 1996, does not specifically exclude any category of disputes as being...
Sarfaesi Framework and Agricultural Land Security

Farm it or lose it to Sarfaesi

By Sumes Dewan and Tanya Mishra, Lex Favios
The Sarfaesi framework gives a clear advantage to banks and financial institutions whose loans have become non-performing assets (NPA). Under it, an NPA can be reconstructed and turned into a marketable asset. In fact,...
courts on international arbitration

Courts give teeth to international arbitration

By Deepesh, Kochhar & Co.
The Indian Arbitration and Conciliation Act, 1996, was amended in 2015 by legislation (amendment act), which altered the entire landscape of the arbitration regime. This followed the 2014 Law Commission report number 246, which...
legitimate expectation

Split verdict on legitimate expectation

Adivision bench of the Supreme Court rendered a split verdict while deciding whether a tax exemption could be granted on the basis of the doctrine of legitimate expectation. In the matter of M/s KB...
transfer proprietary rights

Agreement to sell does not transfer proprietary rights

In a recent judgment on the Ghanshyam v Yogendra Rathi property dispute case, the Supreme Court of India upheld the possessory rights of the plaintiff-respondent, but clarified that an agreement to sell did not...

Adish Aggarwala takes reins of Supreme Court Bar

Adish C Aggarwala, former vice president of the Supreme Court Bar Association of India (SCBA) and senior advocate, was elected as its president. Senior advocate Dushyant Dave, who was SCBA president until he resigned in...
Sandeep Bajaj steps down on PSL

Sandeep Bajaj steps down as PSL elevates trio as equity partners

Sandeep Bajaj, founder and managing partner of PSL Advocates & Solicitors, has stepped down from his current position to focus on his counsel practice. Sameer Jain will continue as the founder and managing partner of...
Milanka Chaudhury Joins Trilegal Dispute Resolution

Milanka Chaudhury reinforces Trilegal’s dispute resolution

Milanka Chaudhury joins Trilegal as partner in the dispute resolution practice in New Delhi, taking the firm’s partnership strength to 104. Chaudhury has 23 years of experience in dispute resolution having worked extensively in aviation,...
Asian law firms doing good deeds for society

A greater good

Law firms across Asia are putting profits aside to focus on pro bono work, community engagement, sustainability and staff welfare. Vandana Chatlani reports Law firms have long recognised the importance of promoting access to justice...

Ankur Singh, Riddhima Murjani now partners at Samvad

Principal associates Ankur Singh and Riddhima P. Murjani have been promoted as partners at Samvad Partners. Ankur, a graduate from the National University of Juridical Sciences, Kolkata, joined the firm in 2017 gaining significant experience...
Responsible investing in private equityvideo

The challenges of impact investment facing PE investors

By Vandana Pai and Ayush Jain, Bharucha & Partners
Globally, private equity investors have been a driving force for economic growth, and have recently been adding responsible investments to their portfolios. This is driven by factors such as climate change, regulatory developments, and...
NCLT applications under IBC

Vidarbha: The ratio that wasn’t

By Sonam Gupta and Arunima Nair, Bharucha & Partners
In M Suresh Kumar Reddy v Canara Bank and Ors, the Supreme Court clarified that its observations in Vidarbha Industries Power Limited v Axis Bank Limited were restricted to the particular facts of that case. Therefore, except...
AI in the legal field

Your next judge may be an algorithm

By Sapna Chaurasia, TMT Law Practice
Artificial Intelligence (AI) is now a familiar term and is a part of our everyday lives. AI is behind applications performing tasks that once required human effort. Today, lawyers use AI for research, document...
contractual terms over power regulatory commissions

Contractual terms prevail over powers of regulatory commissions

By Mani Gupta and Aman Choudhary, Sarthak Advocates & Solicitors
In Haryana Power Purchase Centre v Sasan Power Ltd and Ors, the Supreme Court held that neither regulatory commissions nor the Appellate Tribunal for Electricity (APTEL) can use regulatory powers to vary the terms...
Law stands above commercial wisdom

Law stands above commercial wisdom

The Supreme Court’s 3 May judgment, in MK Rajagopalan v Dr Periasamy Palani Gounder & Anr, shows insolvency resolution plans must be approved by a committee of creditors before being put to an adjudicating authority. The...
time essence appeal limitations

Time of the essence in appeal limitations

The Supreme Court has shed light on the application of the Indian Limitation Act, 1963, and the General Clauses Act, 1897, in arbitration awards. The court addressed the crucial question about the effect of court...
No stamp no arbitration

No stamp, no arbitration

Supreme Court judgment on 25 April 2023 (NN Global Mercantile Pvt Ltd v Indo Unique Flame Ltd) finally settled the ongoing legal conundrum of the enforceability of an arbitration agreement in an unstamped contract. In...
arbitration suits court

When arbitration suits the court

An April 2023 decision by a division bench of the Supreme Court of India has held that arbitration is the appropriate method of deciding whether a development agreement can be lawfully cancelled. It also...
SAM names Rohit Garg as partner

SAM names Rohit Garg as partner to augment tax practice

Rohit Garg, formerly an associate partner at DMD Advocates, is Shardul Amarchand Mangaldas & Co’s latest addition to the partners list. Garg has more than 16 years of experience in tax litigation, representing clients before...
Fundamental rights and internet gatekeepers – A new dawnvideo

Fundamental rights and internet gatekeepers – A new dawn

By Atmaja Tripathy, TMT Law Practice
Technology is acting as a disruptor across all spheres: social, economic, and legal. Constitutional rights jurisprudence has not been untouched by industrial revolution 4.0. Recent decisions of constitutional courts, worldwide, have arisen from or...

Founder indemnities balance risk against investor comfort

By Sindhu Nayak, Bharucha & Partners
Indemnities from founders of investee companies have always been heavily negotiated at the time of venture capital investments. With venture capital investments becoming increasingly common, the framework for the indemnities that investors expect from...

Former directors stay on the hook despite successful CIRP

By Karthik Somasundram and Alabh Lal, Bharucha & Partners
Under section 138 of the Negotiable Instruments Act, 1881 (NI Act), if a dishonoured cheque is not subsequently met or paid, the issuer of the cheque will have committed an offence. Where the defaulter...
change in law generate changes

Change in law generates changes in attitude

By Mani Gupta and Saumya Upadhyay, Sarthak Advocates & Solicitors
In two judgments delivered earlier this year, the Supreme Court has settled disputes over the change in law clauses in power purchase agreements that have been on-going between generation companies and distribution companies (DISCOM)...
yatraa settle insolvency dispute

Supreme Court allows Ezeego, Yatra to settle insolvency dispute

The Supreme Court on 2 May allowed Ezeego One Travel and Tours to withdraw its insolvency dispute against Yatra Online following a settlement where Yatra would pay Ezeego INR16 million (USD194,000). Earlier in March 2023,...
Kamaljeet Singh joins AP & Partners

Kamaljeet Singh joins AP & Partners after quitting JSA

Kamaljeet Singh, who brings 12 years of experience to the team, is the newest partner in the disputes practice at AP & Partners. Singh has successfully represented multinational corporations, financial institutions, and governmental bodies in...
liberalisation of India's education sector

Liberalising education

Is the liberalisation of India's education sector a lesson in how not to open a market? Indrajit Basu reports. In early January, India approved a plan to allow foreign universities to open campuses in the...
Best Top Indian Law Firms 2023

Indian Law Firm Awards 2023

Recognising and rewarding exceptional legal work. Katherine Abraham reports India’s legal industry is experiencing a surge in activity, driven by increased deal-flow and record-breaking IPOs. While the most recognised law firms continue to dominate on...
High Court Refuses Arbitration Application in Shiram EPC Ltd

No arbitration for time-barred issues

The Bombay High Court, in Shriram EPC Ltd and Anor v Gaja Trustee Co Pvt Ltd, held that it would not be right for the court to foist unwarranted arbitration on the parties when clearly...
Apoorva-Guruprasad-takes-over litigation-at-Aarna-Law-L

Apoorva Guruprasad takes over litigation at Aarna Law

Aarna Law promotes advocate Apoorva Guruprasad as head of the firm’s litigation practice. Guruprasad has more than 15 years of experience in civil and commercial litigation and has appeared before the Supreme Court of India, various high courts, district courts and tribunals. Guruprasad has also...
Tributes pour in for NK Anand

Tributes pour in for NK Anand India’s respected IP pioneer

Mr Nawal Kishore Anand, the founding father of Anand and Anand and one of the first IP lawyers in India, died on 29 March. Mr Anand was a visionary who envisioned a strong IP...

Judging retirement

Are mandatory retirement ages for senior judges discriminatory? And are we pushing out our finest legal minds just as they hit their peaks of knowledge? Our regular columnist for sister publication China Business Law...
bombay high court upholds optionvideo

Bombay High Court upholds pre-2013 put options

By Sneha Jaisingh and Anshul Singh, Bharucha & Partners
Option clauses are often included in shareholders’ agreements to protect investors and provide exit opportunities. While put options give shareholders the right to sell securities, call options give them the right to buy securities. The...
law holds agreements companies interests

Law holds companies to agreements including interest

By Pragya Ohri and Kanika Kumar, HSA Advocates
A claim for interest allows a party to recover a loss suffered by being deprived of the use of money, which is legitimately due. In India, the award of interest is primarily governed by...
India digital markets regulationvideo

Before not after regulation for digital markets

By Swathi Girimaj and Sachit Ram, Bharucha & Partners
Sustained interest from private equity and venture capital investors has led India to become the third largest global startup ecosystem, with over 100 unicorns. Its digital economy is projected to reach USD1 trillion by...
pre-deposit SARFAESI

Pre-deposit under SARFAESI is mandatory

Pre-deposit of 50% under section 18 of the Enforcement of Security Interest Act,2 (SARFAESI) is mandatory and cannot be waived in cases where the borrower challenges the action sale with respect to secured assets. In...

Constitution bench decision will impact progress of arbitration

After delivering a pro-arbitration judgment in the case of NN Global Mercantile Pvt Ltd v M/s Indo Unique Flame Ltd and Ors, the Supreme Court referred the case to a constitution bench of the...
india online gaming regulation

The Test

While curbs and regulation of the burgeoning online gaming industry are necessary, has the government gone too far? Freny Patel reports. A deep dive into amendments to India’s 2021 information technology rules and recently proposed...
reversing vidarbha for financial creditorsvideo

Reversing Vidarbha is good news for financial creditors

By Sudeshna Guha Roy and Samridhi Lodha, Bharucha & Partners
In July 2022 the Supreme Court, through its decision in Vidarbha Industries Power Limited v Axis Bank Limited, reversed the settled position on the initiation of the corporate insolvency resolution process (CIRP) for a corporate...
PE funds face challenges identifying beneficial ownersvideo

PE funds face challenges identifying beneficial owners

By Vandana Pai and Hardik Dave, Bharucha & Partners
The significant beneficial owner (SBO) regime in India was introduced by the Companies Act 2013 (act), the Prevention of Money Laundering Act, 2002 (PMLA act) and associated rules. The framework followed recommendations from the...
Competition Commission of India

CCI in paralysis

Government indecision on a major appointment to India's antitrust watchdog has left it in a regulatory limbo, unable to properly enforce or protect, Freny Patel reports. The government’s failure to fill the empty chairman’s seat...
Mediation as an alternate dispute resolution

Mediation by necessity

With a disputes system in crisis in the country, mediation is the way forward, write Max Life Insurance legal experts Amit Wadhwa and Richa Relhan. The development of a society comes with the unintended byproduct...

Deals of the year 2022

India Business Law Journal reveals the standout deals and disputes of 2022 and the law firms that showed their worth in successfully concluding them Despite concerns of a resurgence in covid-19 cases at the beginning...
Future Legal Leaders 2023

Future Legal Leaders 2023

What are the winning traits of lawyers that make them stand out to their clients and peers? Stanley Le reports Access The List This year’s search for Future Legal Leaders begins with the winning traits of...
india transborder reputation

Transborder reputation in India means you must be here

By Essenese Obhan and Sannidhi Mahapatra, Obhan & Associates
Global citizens and travellers extensively use online sites, social media and search engines to smooth their journeys and stays. Usually this involves no thought as to where any service provider is based or the...
India Budget 2023

Budget 2023: Proposed changes

Raghavan Ramabadran, Bharathi Krishnaprasad and Sahana Rajkumar of tax specialist law firm Lakshmikumaran & Sridharan discuss the significant amendments proposed in the budget Apart from laying out the broad plans of the government in respect...
SEBI probes claims against Adani

India’s stock regulator SEBI probes report claims against Adani

The Securities and Exchange Board of India (SEBI) has told the Supreme Court that it is investigating the Hindenburg Research report’s claims of financial irregularities among the Adani group of companies. “As the matter is...
Lalit Bhasin interviewvideo

Man on a mission

With a relentless demeanour and the stamina to remain in the game for longer than an Indian test opener, Lalit Bhasin discusses the finer nuances of life, law and legacy with Gautam Kagalwala He is...
interference under arbitration act

When is interference possible under Arbitration Act?

The Supreme Court, in M/s Meenakshi Solar Power Pvt Ltd v M/s Abhyudaya Green Economic Zones Pvt Ltd and Ors, set aside the impugned judgment passed by the High Court of Telangana, which had...

Moving from dot-com courts to bot courts

By Shilpa Gamnani and Harsh Buch, TMT Law Practice
Good law needs good judges. Good judges closely examine their powers to see whether they are able to provide a remedy for a clear wrong. A good judge is also imaginative, able to see...
council overrides MSMED act

Council overrides arbitration agreement under MSMED Act

The Supreme Court recently observed in the judgment of Gujarat State Civil Supplies Corporation v Mahakali Foods Pvt Ltd (delivered on 31 October 2022) that despite the existence of an independent arbitration agreement, any...
Litigation despite stalled mediationvideo

Green light for litigation despite stalled mediation

By Sonam Gupta and Shiva Pande, Bharucha & Partners
Section 12A of the Commercial Courts Act, 2015 (act), requires that mediation takes place before a suit can be filed unless urgent interim relief is sought. In the recent case of Kapil Goel v...
Incentive structures for startup promotersvideo

How to keep startup promoters on board

By Swathi Girimaji and Sachit Ram, Bharucha & Partners
Finding the right share-based compensation structure for promoters of startups that, at the same time, protect the interests of financial investors is challenging. While the goal is the same, that is to keep promoters...
India Business Law Journal

Opening doors

In-house counsel groups lobby for change In the past two years, the in-house counsel community has been talking vocally about the need for statutory recognition for the profession. Industry groups, such as the General Counsel...
DSK Legal advised Confederation of Real Estate Developers’ Association

DSK gets eco zone clarification

DSK Legal advised and represented the Maharasthra chapter of the Confederation of Real Estate Developers’ Association (CREDAI-MCHI) before the Supreme Court in the matter of Godavarman Thirumulpad v Union of India & Ors, gaining...
IBC valuationsvideo

IBC valuations may spike with proceeds of avoidable transactions

By Karthik Somasundram and Khyati Mehrotra, Bharucha & Partners
Insolvency and Bankruptcy Board of India (IBBI) data shows that, as of September 2022, creditors had realised INR2.43 trillion (USD29.97 billion) of the INR7.19 trillion claimed through the corporate insolvency resolution process (CIRP) under...
tech companies issuing DR sharesvideo

Tech companies favoured in issue of DR shares

By Swathi Girimaji and Varsha Singh, Bharucha & Partners
The principle of one share, one vote was the gold standard of corporate governance in the 20th century. However, more elaborate capital structures, involving shares with differential rights, have gained global popularity over the...
India takeover code

Poison pills give immunity from hostile takeovers

By Soumya De Mallik and Prithviraj Chauhan, HSA Advocates
While the term takeover is not formally defined, the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (takeover code), defines acquisition as “directly or indirectly, acquiring or agreeing to acquire shares or voting...
India section 141 NI act debate

Debate on section 141 of NI act

The world of commercial transactions contains numerous unique intricacies, many of which are yet to be statutorily regulated. More particularly, the principle laid down in Section 141 of the Negotiable Instruments Act, 1881 (NI...
India Material adverse events

Deciding how material is an adverse event

By Raghubir Menon and Swati Sharma, Shardul Amarchand Mangaldas & Co.
The concepts of material adverse events (MAE) and material adverse changes (MAC) are widely incorporated into acquisition and investment documents. An MAE clause classically permits the acquirer to withdraw or walk away from a...
Indian In-house counsels recognition

GCs fight for access

In 2022, it seems bizarre that in-house counsel may not carry a bar licence owing to an antiquated law that dates to the middle of last century. Freny Patel looks at the battle for...
insolvency service providers

Enforcing integrity

As the insolvency and bankruptcy board turns up the heat on insolvency practitioners, Karuna Sharma and Atul Malhotra examine the tools of inspection and investigation at their disposal to ensure compliance with the code T...
DC Singhania passed away

DC Singhania: India loses a maker of legal history

Mr Duli Chand Singhania, founder of Singhania & Co, passed away on 29 November. Earlier that month, he had celebrated his 90th birthday with family and friends. A prayer meeting, which took place at Chinmaya Mission...
Nandita Khurana leaves Michelin

Nandita Khurana leaves Michelin to establish independent practice

Michelin’s zonal legal head in India, Nandita Khurana, is moving on to set up an independent practice after a more than decade-long career with the tyre giant. After working at Michelin for more than 14...

Former Uber legal head Mohit Abraham joins Sequoia India

Mohit Abraham, Uber's former director of regulatory affairs for North America, joined Sequoia India as chief legal officer in early November, succeeding Siddharth V Rao. Before his move to Sequoia, Abraham was a legal aide...

Apple not falling far enough from the tree

By Manisha Singh and Malyashree Sridharan, LexOrbis
In the recent case of Vinita Gupta v Amit Arora, the Delhi High Court considered the concept of semantic and conceptual similarity in dealing with two trademarks, Applestree and Appleplant. The courts have had...
Rainbow judgment on IBC

Rainbow Papers judgment: Clouds loom over IBC

By Soumitra Majumdar and Utkarsh Bandhu, JSA
By recognising the state government as a secured creditor, the Rainbow Papers judgment exposes the Insolvency and Bankruptcy Code to incongruous uncertainty Promulgation of the Insolvency and Bankruptcy Code, 2016 (IBC) brought much cheer to...

No automatic right to wages during insolvency resolution

By Aditya Vikram Dua and Parvathi Menon, SNG & Partners
There has been considerable discussion over whether salaries to employees should be treated as costs in the corporate insolvency resolution process (CIRP). If they are so regarded, those wages will assume priority over other...
India exclusion clauses

Exclusion clauses may not exclude everything

By Faranaaz Karbhari and Akriti Shikha, HSA Advocates
An exclusion clause is a beneficial contractual arrangement made in anticipation of future contingencies that might hinder or prevent performance. Usually, parties to a contract exclude liability for certain types of losses, which may...

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