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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...
Deal value thresholdvideo

The future cost of deal valuation notifications

By Swathi Girimaji and Amruth Anand, Bharucha & Partners
Antitrust regulators the world over have begun to reassess their regulatory frameworks after several high-value acquisitions of entities in the digital space were recently completed without merger control scrutiny. India is no different. Although...
IBC fairnessvideo

Speed important in IBC but fairness more so

By Sneha Jaisingh and Amogh Joshi, Bharucha & Partners
Recently, in Rathi Graphics Technologies Limited v Rajkumar Rathi & Ors, the National Company Law Tribunal (NCLT), relying on Supreme Court decisions and the report of the Bankruptcy Law Reform Committee, held that committees...
India Supreme Court directive on ad hoc arbitrator fee

Supreme Court directive on ad hoc arbitrator fee

An arbitration between the Oil and Natural Gas Corporation (ONGC) and Afcons Gunanusa commenced in 2015, but a disagreement arose over the fee to arbitrators and who should decide the issue. According to the parties’...
‘Final and binding’ not needed to validate arbitration clause

‘Final and binding’ not needed to validate arbitration clause

The Supreme Court recently held that an arbitration clause has to be given effect, whether or not expressly stated that an arbitrator’s decision is final and binding. In Babanrao Rajarum Pund v M/S Samarth Builders...
India future of group of companies doctrine

Guidance awaited on future of group of companies doctrine

By Ashish Anand, HSA Advocates
Arbitration is a creature of contract statutorily backed by the Arbitration and Conciliation Act, 1996 (act), which is intended to provide quick and efficacious alternate dispute remedies. In our experience, challenging areas in arbitration...
Trilegal appoints Rajat Jariwal

Trilegal names Khaitan’s Jariwal as New Delhi disputes partner

Former Khaitan & Co lawyer Rajat Jariwal joins Trilegal as a partner in the disputes resolution team at the New Delhi office from this month. “We expect him to play a crucial role in...
regulation of ESG rating providersvideo

Regulators looking to rate ESG rating providers

By Swathi Girimaji and Harshita Kakar, Bharucha & Partners
Environmental social and governance (ESG) factors are increasingly important both globally and in India. ESG investments are now a separate investment class and private equity and venture capital investors often require ESG compliance by...
India mandatory mediationvideo

Mandatory mediation hoped to unclog commercial lists

By Sonam Gupta and Anurag Tandon, Bharucha & Partners
The Commercial Courts Act, 2015 (act), expedited the delivery of justice in commercial disputes involving over INR10 million (USD125,500). In 2018, the value of commercial disputes to which the act applied was reduced to...

Supreme Court decision clouds insolvency process

The Supreme Court’s judgment in the case of Vidarbha Industries Power v Axis Bank opened a Pandora’s box earlier this year when it unsettled a long established practice of the adjudicating authority admitting insolvency...

Too much power?

Fears of raids and asset seizures have turned the Directorate of Enforcement into a veritable bogeyman for India inc, writes Freny Patel T he Directorate of Enforcement (ED), India’s most powerful crime-fighting agency, makes daily...
References not enough to compel arbitration

References not enough to compel arbitration

The Supreme Court recently reiterated the principles laid down in Jagdish Chander v Ramesh Chander (2007), that an arbitration agreement should disclose a determination and obligation on behalf of parties to refer disputes to...
Top-court-steps-in-to-settle-jurisdiction-disputes-L

Top court steps in to settle jurisdiction disputes

The tug of war over jurisdiction has surfaced many times in arbitration proceedings, necessitating the Supreme Court to step in repeatedly to settle disputes. In General Manager East Coast Railway Rail Sadan and Anr...
When in doubt, arbitrate

When in doubt, arbitrate

Citing an earlier Supreme Court decision, Delhi High Court has ruled that courts must lean towards referring matters to arbitration when one party seeks to negate an arbitration agreement by citing other provisions of a...
Solving-the-problem-of-interest-and-insolvency-L

Solving the problem of interest and insolvency

The component of interest has played a significant role in the admission of a company into insolvency where the required monetary threshold is partially unmet. The question that arises in these situations is whether...
GST implementation in India

GST: A 5-year report card

A look back at the past five years shows that GST hasn't been the game-changer that was promised. Shivanand Pandit reports Five action-packed years, 47 GST council meetings, manifold tax rates, and several boundaries set...

Safe digital spaces may curtail existing freedoms

By Ashima Obhan and Shubhanshi Pohani, Obhan & Associates
Questions over whether the internet should be regulated and if so, how have vexed governments for years, with India being no different. In 2021, the Information Technology (Intermediary Guidelines and Digital Media Ethics Code)...
India Stock appreciation rightsvideo

Committee recommends recognition of stock appreciation rights

By Vandana Pai and Shreya Sreesankar, Bharucha & Partners
Soaring valuations and constant innovation have made the start-up landscape in India extremely competitive. Not only has this led to an increased demand for executive talent but it has also led to a more...
India supreme court on financial creditorsvideo

Supreme Court says financial creditors not so supreme

By Sudeshna Guha Roy and Elisha Vaswani, Bharucha & Partners
In the recent case of Vidarbha Industries Power Limited v Axis Bank Limited, the Supreme Court held that the National Company Law Tribunal (NCLT), as the adjudicating authority, has discretion to admit or reject...
India supreme court giving tax authorities secured creditors

Making states secured creditors weakens IBC

By Saroj Pandey and Rachit Munjal, SNG & Partners
The recent Supreme Court (SC) case of State Tax Officer (1) v Rainbow Papers Limited held that section 48 of the Gujarat Value Added Tax Act, 2003 (GVAT), a notwithstanding provision imposing a statutory...
Supreme court allows GMR to run Nagpur International Airport

Court clears airport agreement for takeoff

By Shailendra Kumar Singh and Kartik Agarwal, HSA Advocates
In the recent case of MIHAN India Ltd v GMR Airports Ltd and Ors, the Supreme Court confirmed that no public body or authority may act in an arbitrary manner merely because it has...
JSA-acts-for-SBI-in-stalled-Dunar-Foods-insolvency-proceedings-L

JSA acts for SBI in stalled Dunar Foods insolvency proceedings

The National Company Law Appellate Tribunal (NCLAT) upheld an NCLT decision setting a precedent and paving the way for progress on the resolution of the Dunar Foods insolvency proceedings. JSA acted as the legal...
India competition per se rule

Rules of engagement

There are two different rulebooks for dealing with anti-competitive behaviour around the world. Respected legal academic Souvik Chatterji analyses the differences from an India perspective and explains how one makes for quicker and more...

SNG rewards Gupta and Aggarwal with promotions

SNG & Partners has promoted two key personnel, Sanjay Gupta to managing partner and Amit Aggarwal as senior partner, for their leadership and hard work a month after the establishment of a joint venture...
India Business Law Journal

Court in the act

Supreme Court gives teeth to copyright penalties The Supreme Court’s judgment in the recent matter of Knit Pro International v State of NCT of Delhi is likely to assuage the demands of Western nations that...

You’re hooked!

A new cyber scam is targeting top brands’ websites to sell fake dealerships and franchise offers. While the courts are helping by making such offences cognisable and non-bailable, brand owners must up the ante...
NOIDA dues are not a financial debtvideo

NOIDA dues are not a financial debt

By Shreya Sircar and Sneha Sanyal, Bharucha & Partners
The Supreme Court in NOIDA v Anand Sonbhadra recently considered whether sums owed by real estate developers to New Okhla Industrial Development Authority (NOIDA) under long-term leases could be classified as financial debts and...
top foreign firms india

Bouncing back

As business and travel edge back to normal after the pandemic, which foreign law firms are leading the field with their India offerings? Vandana Chatlani finds out See earlier editions of this report F ollowing a swift...
Granting employee stock options to promotersvideo

Granting employee stock options to promoters

By Vandana Pai and Gayatri Ramesh, Bharucha & Partners
Companies cannot grant employee stock options (ESOPs) to promoters under Indian law. This restriction is set out in rule 12 of the Companies (Issue of Share Capital and Debenture) Rules, 2014 (rules) and Regulation...
Employee secondment is really a taxing environment

Employee secondment becomes taxing for Japanese companies

By Reena Asthana Khair, Kochhar & Co.
Japanese multinational companies often second their nationals to connected companies in different jurisdictions. The group learns about internal cultural differences, employees gain valuable experience and relationships are strengthened within the group. In a secondment, the...
Companies depend on proper paperwork at trial

Companies depend on proper paperwork at trial

By Kshitiz Khera, HSA Advocates
As companies come into existence only through statute, and their powers and those of their officers are similarly derived, documents and their proofs are vital when companies are involved in litigation. It is essential...

Questions arise over restricting ‘sale of pledged shares to self’

By Aniket Sawant and Aanchal Gujrani, SNG & Partners
In the recent case of PTC India Financial Services Limited v Venkateswarlu Kari and Anr, the Supreme Court delivered a landmark judgement settling key aspects of the law in relation to pledges and the...
Maiden UK sustainability award for green lawyer Sudhir Mishra

Maiden UK sustainability award for green lawyer Sudhir Mishra

Eminent environment lawyer Sudhir Mishra has received the Guardians of Sustainability Award this year for the first time at a curtain-raiser for The Canvas – World’s First student SDG accelerator initiative. “It’s a huge recognition...
Condition critical

Condition critical

A conflict has played out before several judicial forums over the fate of Future Retail, a company in grave health with creditors and two of the world’s richest men entangled in its fate. Freny...
L&L Partners dissolves litigation arm; hires Verus’ founding partner

L&L Partners dissolves litigation arm; hires Verus’ founding partner 

L&L Partners’ managing partner Rajiv Luthra has issued a notice for the dissolution of the firm’s litigation arm and chalked out a plan to reorganise its various practice areas under a one-firm structure. As a...
Perverted priorities

Perverted priorities

CERT-In has shown more interest in collecting data and imposing restrictions on businesses than warding off cyber-attacks, writes Software Freedom Law Centre’s Mishi Choudhary  The government and its relationship with the privacy of citizens has...
Power of attorney and property ownership

Power of attorney and property ownership

The Supreme Court in a recent ruling has held that when an agent under a power of attorney is in possession of an immovable property, the possession is that of the principal owner. However,...
Standards of proof for money laundering offences

Standards of proof for money laundering offences

The Supreme Court, in a recent matter, held that in case of offences under the Prevention of Money Laundering Act, 2002 (PMLA), courts cannot proceed merely on the basis of the principle of “preponderance...
Argus hires Bhavya Mohan as disputes partner in Bengaluru, Bhavya Mohan

Argus hires Bhavya Mohan as disputes partner in Bengaluru

Argus Partners named Bhavya Mohan as a partner in the dispute resolution practice from June at the firm’s Bengaluru office. Prior to joining Argus, she was an advocate with Arista Chambers, and as an associate...
Departing IT staff getting tied up with non-compete clauses

Departing IT staff getting tied up with non-compete clauses

Shortage of tech talent across all industries is taking a particularly huge toll on information technology companies as digital ecosystems evolve and adapt to repercussions of the pandemic – with many IT employees offered...

Private equity investment in P2P solar trading

By Vandana Pai and Subham Chatterjee, Bharucha & Partners
India’s solar energy ecosystem is rapidly developing. A recent phenomenon is the peer-to-peer (P2P) trading of solar energy, where persons generating solar energy for their private use are selling excess power generated to other...

Sale to self of pledged securities not legal

By Karthik Somasundram and Khyati Mehrotra, Bharucha & Partners
In PTC India Financial Services Limited v Venkateshwarlu Kari and Anr., the Supreme Court ruled on the exercise of rights under a pledge of dematerialised shares. The issue was whether the re-classification of the...
India data protection plan

Price of protection

India's proposed data protection regulation demands data localisation and restricts cross-border transfers, promising economic benefits for the broader economy, but imposing big cost and logistical challenges on Indian and international companies, write K Satish...
Court acts on reassessments

Court acts on reassessments

While deciding an appeal against an order of the Allahabad High Court (Union of India v Ashish Agarwal, 2022), which had set aside reassessment notices issued by the Department of Revenue, within the Ministry...
Decree holders ‘not same as financial creditors’

Decree holders ‘not same as financial creditors’

The Supreme Court has upheld a decision of the Tripura High Court by refusing to interfere with its judgment that decree holders cannot be treated the same as financial creditors under the Insolvency and...
Court not obliged to remit matters to arbitral tribunals

Court not obliged to remit matters to arbitral tribunals

In a Supreme Court judgment it was held that section 34(4) of the Arbitration and Conciliation Act, 1996 can be used to record reasons for findings already produced in an award, or to fill...
Arbitral awards bound by contract

Arbitral awards bound by contract

The Indian Supreme Court has set aside an arbitral tribunal’s award for acting beyond the confines of a contract executed between parties. The court held that the power of courts and arbitral tribunals was...

Ignoring precedent risks stability in real estate

By Pratik Ghose and Avishek Roy Chowdhury, HSA Advocates
The concept of precedent and the binding effect of precedents set by higher courts on lower courts is one of the cardinal bases on which the judiciary functions and the doctrine of stare decisis...
SEBI must disclose says Supreme Court, Sneha Jaisingh

Supreme Court rules that SEBI must disclose

By Sneha Jaisingh and Aniruddha Banerji, Bharucha & Partners
The Securities and Exchange Board of India (SEBI) issued the SEBI (AF) Regulations, 2003 (regulations), to regulate unlawful, fraudulent and unfair trade practices in the securities market. The regulations give SEBI and the investigating...
NHAI takes innovative routes to financing, Vandana Pai

NHAI takes innovative routes to financing

By Vandana Pai and Ayush Jain, Bharucha & Partners
In October 2021, the National Highways Authority of India (NHAI) sponsored its first infrastructure investment trust (InvIT), the National Highways Infra Trust (NHAI InvIT), to monetise completed national highways. The NHAI InvIT raised funds through...

Indian Law Firm Awards 2022

Discover our other annual awards Award In a celebration of hard work, ingenuity and excellence, India Business Law Journal reveals the winners of the 2022 Indian Law Firm Awards. Vandana Chatlani reports In the past 12...
Kolkata’s Fox & Mandal allies with BlackRobe Chambers, Debanjan Mandal

Kolkata’s Fox & Mandal allies with BlackRobe Chambers

Kolkata-based firm Fox & Mandal has expanded its footprint to New Delhi in a collaboration with BlackRobe Chambers – a full-service firm headed by Kunal Vajani. “Debanjan has a progressive outlook to grow the...
Mohini V enters Remfry’s equity partnership, Mohini V

Mohini V enters Remfry’s equity partnership

IP disputes specialist Mohini V has joined Remfry & Sagar as an equity partner. With nearly 15 years of experience in litigation, Mohini has provided counsel to clients on areas such as trademark infringement, unfair...
Pre-deposit mandatory under Customs Act

Pre-deposit mandatory under Customs Act

A bench comprising Justices KM Joseph and Hrishikesh Roy, in the case of Chander Sekhar Jha v Union of India and Anr, dismissed an appeal assailing the order of the Calcutta High Court regarding...
CCI’s-hands-tied-in-debt-trustee-dispute

CCI’s hands tied in debt trustee dispute

India’s antitrust probe into the alleged collusion over fees charged by debt trustees of the State Bank of India, Axis Bank and IDBI Bank took a back seat following an intervention by the Bombay...
Improper communication in M&A leads to trouble

Improper communication in M&A leads to trouble

By Iqbal Khan and Ambarish, Shardul Amarchand Mangaldas & Co.
The restrictions on sharing unpublished price sensitive information (UPSI) are strict and not typical of the way such information is dealt with globally. However, by now, most stakeholders are comfortable with the standard requirements...
Private client models enter the modern world

Private client models enter the modern world

By Rishabh Shroff and Chirag Shah, Cyril Amarchand Mangaldas
Traditional family-run businesses are giving way to a new age of startups and technology-driven business models. Given India Inc’s desire for a global footprint, migration or foreign passports are now common. Many families and...
Fintech is the future of inclusive finance

Fintech is the future of inclusive finance

By Bagmisikha Puhan and Siddhant Gupta, TMT Law Practice
The banking and financial services sector has long been a pioneer and centre of technological innovation, providing end-user banking and financial services. Fintech has emerged as a direct competitor to legacy banking, but has...
NCLT’s ability to issue warrants strengthens insolvency resolution Sonam Gupta

NCLT’s ability to issue warrants strengthens insolvency resolution

By Sonam Gupta and Saumay Kapoor, Bharucha & Partners
The inability to resolve the insolvency of a corporate debtor does not merely stem from the fact that the entity is, in fact, distressed. In many cases, the resolution professional (RP) is unable to...
RERA poses a challenge for private equity Vandana Pai

RERA poses a challenge for private equity

By Vandana Pai and Subham Chatterjee, Bharucha & Partners
The Real Estate (Regulation & Development) Act, 2016 (act), the most significant reform of India’s real estate sector in modern times, came into effect in 2017. The act established a Real Estate Regulatory Authority...
Don’t-ignore-CCI’s-teeth

Don’t ignore CCI’s teeth

A more considered approach to investigations during tough pandemic times should not be construed as less commitment from the Competition Commission of India’s plans to ensure fair competition, write its Former Chair Dhanendra Kumar...
India Business Law Journal

Cryptic question

Viable alternative or Dutch tulip? There should be little surprise that India continues to struggle with the knotty problem that is virtual currencies, which according to a May 2020 ruling of the Supreme Court, “elude...
Daoism: a new kind of faith

DAOism: a new kind of faith

The idea for a decentralised autonomous organisation, where the rules are baked into its code with no management structure or board of directors, has emerged with the rise of blockchain technology. Andrew Godwin examines...
地上建筑物抵押-有点不太稳定?

Superstructure mortgages – A bit wobbly?

By Amaresh Kumar Singh and Dipti Lavya Swain, HSA Advocates
The concept of mortgage, as set out in the Transfer of Property Act, 1882 (TPA), and related laws, involves the mortgagor fettering its interest in immovable property in favour of the mortgagee or the...
IndusLaw-gets-disputes-expert-L

IndusLaw gets disputes expert

Soura Subha Ghosh has joined IndusLaw at the firm’s Mumbai office in its dispute resolution practice. With more than 15 years of experience, his practice includes commercial civil litigation, dispute resolution, arbitration, mediation and...
Fieldfisher-hires-India-head,-litigation-partner_l

Fieldfisher hires India head, litigation partner

Shivani Sanghi has joined European law firm Fieldfisher in London as a partner in its international arbitration and commercial litigation team and as head of its India practice. She will lead Fieldfisher’s India arbitration practice...
BETWEEN-ROCKS-AND-HARD-PLACES-L2

Between rocks & hard places

By Pan Cong, SHAREit Group
In the face of data requests from law enforcement agencies, conflicting legal requirements from home country and foreign jurisdictions are putting multinational tech companies in an unprecedented dilemma. How should they respond? Pan Cong,...
Humans still required in private equity

Humans still required in private equity

By Vandana Pai and Shreya Sreesankar, Bharucha & Partners
The evolution of the global economy has been largely driven by the disrupters that have revolutionised the way people work and live. Digitisation and artificial intelligence (AI) have been hailed as triggering the fourth...
Possible happy ending for controversial cinema bill

Possible happy ending for controversial cinema bill

By Manisha Singh and Aarushi Mishra, LexOrbis
The Cinematograph Act, 1952 (act), was introduced to certify cinematograph films for exhibition and to regulate such exhibition. However, the legislation is long overdue for an overhaul. To have a law that acknowledges new...
CCI’s penalty orders need guidance, consistency

CCI’s penalty orders need guidance, consistency

By Karan S Chandhiok, Chandhiok & Mahajan
The Competition Act, 2002 (act), gives wide discretion to the Competition Commission of India (CCI) to penalise enterprises and individuals for engaging in anti-competitive practices. Under section 27(b), the CCI can impose a penalty...

Extraordinary rules for exemplary damages in IP infringement

By DPS Parmar, LexOrbis
The grant by courts of a permanent injunction and exemplary damages against an intellectual property (IP) infringer is meant to be a deterrent against future infringement. The principles for obtaining injunctions have been clearly laid...

CCI theoretical analysis of vertical agreements not practical

By Avinash Amarnath and Tarun Donadi, Chandhiok & Mahajan
Anti-competitive agreements are dealt with under section 3 of the Competition Act, 2002 (act). Section 3(4) prohibits vertical agreements between enterprises or persons at different levels of the production and supply chains that cause...

Dispute resolution in India for Japanese companies

By Nishant Menon and Kavita Sarin, Kochhar & Co
The legal system in India is a combination of legislations and judicial precedents. The central government and state governments both legislate on subjects as prescribed in the constitution while judicial precedents are laid down...
The-cryptic-question

No escape

By Freny Patel
Lack of clarity over future legitimacy and plans to levy hefty taxes threaten to clip the wings of jittery cryptocurrency investors. Freny Patel reports Among many things, the ongoing Russia-Ukraine war has put the spotlight...
P&A-on-track-with-bullet-train-win-in-Supreme-Court

P&A on track with bullet train win in Supreme Court

P&A Law Offices represented the National High Speed Rail Corporation when the Supreme Court of India quashed an order of Delhi High Court directing it to reconsider a disqualified bid submitted in a foreign-funded...
Deconstructing AIvideo

Deconstructing AI

Hype and hysteria over artificial intelligence must be tempered to prevent knee-jerk reactions from regulators and to ensure India can reap the benefits cutting edge technology offers, write Abhivardhan and Mridutpal Bhattacharyya To its boosters,...
Haryana-L

Job quotas not yet working in Haryana

The state government of Haryana enacted the Haryana State Employment of Local Candidates Act, 2020 (act) and the Haryana State Employment of Local Candidates Rules, 2021, which took effect in January 2022. The act...
Overstepping-the-mark-L2

Overstepping the mark

The requirement to submit a test licence in the drugs and cosmetics rules goes beyond the ambit of the Parent Act, and is a hindrance to R&D for pharma companies, writes Syngene International's Shreekanth...
Withdrawal of CIRP may save corporate debtor Shreya Sircar

Withdrawal of CIRP may save corporate debtor

By Shreya Sircar and Sanjukta Roy, Bharucha & Partners
The object of the Insolvency and Bankruptcy Code, 2016 (IBC) is to maximise the asset value of the corporate debtor while protecting and balancing the interests of all stakeholders. The IBC discourages individual actions...
Flat owners triumph on occupation certificate compensation

Flat owners triumph on occupation certificate compensation

In Samruddhi Co-operative Housing Society Ltd v Mumbai Mahalaxmi Construction Pvt Ltd, the Supreme Court confirmed that flat purchasers are entitled as consumers to apply for compensation for the failure of the builder to...
Post-award interest okayed in arbitration awards

Post-award interest okayed in arbitration awards

In a recent ruling, the Supreme Court reaffirmed that post-award interest can be granted by an arbitrator even on the interest component in the award. In arbitration between UHL Power Company Limited (UHL) and the...
Not all public service employees are equal

Not all public service employees are equal

In State of Maharashtra v Bhagwan, the Supreme Court held that state governments and autonomous boards and bodies were not on a par, and employees of the latter were governed by their own service...
Meta ready to throw in towel

Meta ready to throw in towel

By Freny Patel
Facebook’s parent has threatened to call it quits in India as it fears the data privacy law could force it to modify or cease existing business practices. On 2 February, Meta Platform expressed concerns in...
Limited challenge to foreign arbitral award enforcement Karthik Somasundram

Limited challenge to foreign arbitral award enforcement

By Karthik Somasundram and Bhavi Vora, Bharucha & Partners
In Gemini Bay Transcription Pvt Ltd v Integrated Sales Service Ltd & Anr, the Supreme Court considered whether a person who was not a signatory to an arbitration agreement could challenge a foreign arbitral award....
Private equity and its impact on competition Vandana Pai

Private equity and its impact on competition

By Vandana Pai and Gayatri Ramesh, Bharucha & Partners
The Competition Commission of India (CCI) is presently studying private equity (PE) investment in India in order to understand the impact that common ownership may have on competition in the relevant market. The decision...
Insolvency resolution process has time limits

Insolvency resolution process has time limits

The Supreme Court, in the matter of Committee of Creditors of Amtek Auto Limited through Corporation Bank v Dinkar T Venkatsubramanian, observed that the entire resolution process had to be completed within the period stipulated...
Hot seat

Hot seat

Parties should clearly specify the seat of arbitration as this can be a hotbed of contention when international disputes emerge, writes Tata Capital’s Rohan Thacker The seat or situs of arbitration has long been a...
Do shareholder activists face barriers to calling meetings? Justin Bharucha Sneha Jaisingh

Do shareholder activists face barriers to calling meetings?

By Justin Bharucha and Sneha Jaisingh, Bharucha & Partners
In Zee Entertainment Enterprises Ltd v Invesco Developing Markets Fund & Ors, the Bombay High Court considered shareholders’ right to requisition a general meeting. Invesco, a shareholder in Zee, requisitioned an extraordinary general meeting to...
IBC offers attractive options for M&A deals Gautam Khurana

IBC offers attractive options for M&A deals

By Gautam Khurana, India Law Offices
The Insolvency and Bankruptcy Code, 2016 (IBC) has gradually evolved but, following a number of amendments, now offers a value route for M&A transactions. Corporate insolvency prior to 2016 was a disordered process but...
Supreme Court clarifies award modifications

Supreme Court clarifies award modifications

The Supreme Court has held that an arbitrator allowing an application to modify an original award in the exercise of powers under section 33 of the Arbitration and Conciliation Act, 1996, was not sustainable...
Uttar Pradesh RERA’s refund decision upheld

Uttar Pradesh RERA’s refund decision upheld

The Uttar Pradesh Real Estate Regulatory Authority ordered Newtech Developers to refund (with interest) the advance paid by homebuyers over a delay in handing over possession. This finding was impugned before the Supreme Court. The...
Indian-path-to-carbon-neutrality-L2video

India’s path to carbon neutrality

By Priti Suri and Arya Tripathy, PSA
The absence of a climate change law leaves pressing concerns for India’s achievement of emission reduction goals, write Priti Suri and Arya Tripathy India is moving fast towards becoming the world’s most populous country, and...
Analysis-of-emerging-trends-in-lease-deeds-L

Analysis of emerging trends in lease deeds

By Amaresh K Singh and Prashant Sood, HSA Advocates
Lease instruments define the rights and obligations of lessors and lessees, and deal – through law and necessity – with the contingencies and exigencies that affect leases. Leases must be adequately stamped, registered and...
India-tackles-the-difficulties-of-regulating-cryptos-L

India tackles the difficulties of regulating cryptos

By Shilpa Mankar Ahluwalia and Shubhangi Garg, Shardul Amarchand Mangaldas & Co
Cryptocurrency regulation started in 2018 with the Reserve Bank of India (RBI) prohibiting banks from involvement in crypto-based transactions. The Supreme Court overturned the ban, leading to significant growth in the trading of cryptocurrency,...
Competition-law-needs-framework-for-private-enforcement-L

Competition law needs framework for private enforcement

By Vikram Sobti and Anisha Mittal, Chandhiok & Mahajan
Competition law jurisprudence in India has evolved significantly since the Competition Act, 2002 (act), came into force. However, the private enforcement of competition law infringement is yet to take off. Private enforcement claims can only...
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Homebuyers versus lenders in fight for recovery

By Aditya Vikram Dua and Aniket Sawant, SNG & Partners
The enactment of the Real Estate (Regulation and Development) Act, 2016 (RERA), and the Insolvency and Bankruptcy Code, 2016 (IBC), were welcome reforms and well-received by stakeholders in the real estate industry including lenders...
Shreya Sircar Bharucha & Partners

Lack of avenue to opt out makes government contracts inequitable

By Shreya Sircar and Jyotsna Punshi, Bharucha & Partners
Public sector enterprises, and other government entities (government) regularly execute commercial contracts with private entities or private contracting parties. These contracts often follow bids submitted in response to government tenders, and usually contain standard...
News-report-referring-to-trademark-not-wrongful-use-Manisha-Singh-and-Malyashree-Sridharan-LexOrbis-Oct2021

A small suffix causes big IP dispute

By Manisha Singh and Malyashree Sridharan, LexOrbis
The long-running dispute between the companies behind the online payment apps PhonePe and BharatPe has intensified. Each side claims ownership of the trademarks and suffixes PE and Pe, alleging misuse against the other. In...
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Open access to electricity becoming a reality

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors
Bringing relief to captive projects, the Supreme Court (SC) has held that captive consumers are not liable to pay additional surcharges. Additional surcharges are charges levied by distribution companies (discom) on consumers who receive...
Jury-out-on-fate-of-cryptos-NFTs-Indian-Law-cryptovideo

Jury out on fate of cryptos, NFTs

By Raghavan Ramabadran & Sai Prashanth, Lakshmikumaran & Sridharan in Chennai
India stands on the cusp of a cryptocurrency boom even as a 2021 bill may scupper opportunities while also affecting prospects for non-fungible tokens, which are traded in cryptos. Raghavan Ramabadran and Sai Prashanth define the instruments and...
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Challenges in defining relevant markets for digital businesses

By Deeksha Manchanda and Niti Richhariya, Chandhiok & Mahajan
Defining the relevant market is the first and most significant step of antitrust analysis. It sets the scope of that analysis and provides a structure and foundation for the economic and legal assessment within...
Post-dated cheques not a worthless paper

Post-dated cheques not a worthless paper

By Devyani Dhawan and Ayushi Parnami, SNG & Partners
In debt transactions, it is fairly standard for lenders to accept post-dated cheques (PDC) from borrowers as security for the repayment of loans. But what if such PDCs bounce upon being presented for payment?...

IBLJ In-house Counsel Awards

In-house Counsel Awards 2022 India Business Law Journal reveals the country’s leading in-house counsel and corporate legal teams in our very first awards. Gautam Kagalwala reports Individual AwardsTeam Awards For the inaugural India Business Law Journal In-house...
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Employment burden of proof after dismissal ‘on the employee’

The Supreme Court, in the 24 September judgment of National Gandhi Museum v Sudhir Sharma, observed that whether an employee after dismissal was gainfully employed was within his special knowledge and, therefore, considering the...
Who’s in control?, Shivanand Pandit

Who’s in control?

The markets regulator has begun a process to move away from the broad concept of promoter to controlling shareholders in order to better identify who’s in charge. Shivanand Pandit reports Paving the way for a...
India Business Law Journal

Climate challenges ahead

Time to walk the talk In what was a first for South Asia, the Uttarakhand High Court in 2017 ruled that the Ganga and Yamuna rivers, and their catchment areas and tributaries, had rights as...
The-legality-of-games-of-skill-Suhaan-Mukerji-Founding-Partner-PLR-Chambers

The legality of games of skill

By Suhaan Mukerji, PLR Chambers
Whether played online or offline, games of skill are judicially protected and cannot be viewed as gambling, writes Suhaan Mukerji Playing games of skill such as rummy or bridge has been judicially held to...
Sonam Gupta Partner Bharucha & Partners

SC overreach undermines the purpose of IBC

By Sonam Gupta, Bharucha & Partners
The Supreme Court in Dena Bank (now Bank of Baroda) v C Shivakumar Reddy held that a money decree or adjudication of a claim creates a fresh cause of action for a financial creditor...
Do lawyers have an increased responsibility in averting a climate catastrophe? Vandana Chatlani reports

Burning question

Do lawyers have an increased responsibility in averting a climate catastrophe? Vandana Chatlani reports In August, the Intergovernmental Panel on Climate Change (IPCC), a UN body for assessing the science related to climate change, published...

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