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Tag: Supreme Court

Constitution upholds arbitration neutrality, party autonomy

Supreme Court invalidates arbitration clauses in Lombardi Engineering Ltd v Uttarakhand Jal Vidyut Nigam Ltd. Deposit requirement and government-appointed arbitrators ruled unconstitutional

Reasoning at the heart of decision

NCLT must provide reasoned order to reject IBC resolution plan, says Supreme Court. Committee-approved plans not to be questioned

Arbitrator autonomy still demands proper decision-making

In Batliboi v Hindustan Petroleum, the Supreme Court affirmed the arbitrator's right to interpret contract terms reasonably, barring award annulment

Top court provides clarity on captive power generation

By Mani Gupta and Rahul Bangia, Sarthak Advocates & Solicitors

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

RBI revamps defaulter guidelines in draft paper

The Reserve Bank of India (RBI) has unveiled a draft paper of proposed revisions in the guidelines for handling wilful defaulters

MCA proposal to reinstate CIRP: A critique

By Misha, Aishwarya Satija and Kritika Poddar, Shardul Amarchand Mangaldas & Co

Insolvency and Bankruptcy Code prevails over Electricity Act

By Mani Gupta and Aman Choudhary, Sarthak Advocates & Solicitors

Farm it or lose it to Sarfaesi

By Sumes Dewan and Tanya Mishra, Lex Favios

Courts give teeth to international arbitration

By Deepesh, Kochhar & Co.

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

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

Vidarbha: The ratio that wasn’t

By Sonam Gupta and Arunima Nair, Bharucha & Partners

Singapore, China agreement on BRI disputes

By Una Khng, Helmsman in Singapore

Contractual terms prevail over powers of regulatory commissions

By Mani Gupta and Aman Choudhary, Sarthak Advocates & Solicitors

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

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

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

Former directors stay on the hook despite successful CIRP

By Karthik Somasundram and Alabh Lal, Bharucha & Partners

Change in law generates changes in attitude

By Mani Gupta and Saumya Upadhyay, Sarthak Advocates & Solicitors

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 USD194,000

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

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 on the facts the cause was a dead letter

Judging retirement

Mandatory retirement ages for judges may be depriving the system of its finest assets. What are the pros and cons?

Law holds companies to agreements including interest

By Pragya Ohri and Kanika Kumar, HSA Advocates

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

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 court to resolve conflicting decisions of equal standing

Reversing Vidarbha is good news for financial creditors

By Sudeshna Guha Roy and Samridhi Lodha, Bharucha & Partners

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

Enforcing integrity

Insolvency board makes greater use of enforcement mechanisms to ensure compliance with the bankruptcy code

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

‘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

References not enough to compel arbitration

Where there is merely a possibility of the parties agreeing to arbitration in the future, in contrast to an obligation to refer disputes to arbitration, there is no valid and binding arbitration agreement

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

When in doubt, arbitrate

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 contract that require detailed interpretation

Solving the problem of interest and insolvency

As the IBC clearly differentiates between financial debt and operational debt obligations, the question becomes whether interest can be included in both these types of debt for the admission of a company into insolvency under the IBC

Supreme Court’s Vidarbha ruling undermines India’s insolvency law

By Shardul Shroff and Misha, Shardul Amarchand Mangaldas & Co

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

By Aniket Sawant and Aanchal Gujrani, SNG & Partners

Perverted priorities

The government and its relationship with the privacy of citizens has always been disproportional

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

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 of probabilities”

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

Departing IT staff getting tied up with non-compete clauses

With many IT employees offered huge salary hikes and perks from competing firms amid soaring global demand for IT services

Sale to self of pledged securities not legal

By Karthik Somasundram and Khyati Mehrotra, Bharucha & Partners

Maintaining momentum

Massive infrastructure development and liberalisation of overseas investment have boosted the Philippines’ competitiveness, but the pandemic has changed everything. What will a newly elected government mean for business-related legal reform?

Watching the watchers

New roles of intermediaries place them under the microscope of capital market regulation

Traversing IP regime in time of war and crisis

By Tusha Malhotra and Yamini Jaswal, Anand and Anand in New Delhi

Challenges resolving insolvencies of personal guarantors under IBC

By Saurav Panda and Ahkam Khan, Shardul Amarchand Mangaldas & Co

Price of protection

Countries around the world are strengthening their data protection regimes given the rise in data breaches and the growing need to regulate how businesses use and process sensitive data

Court acts on reassessments

Supreme Court Justices MR Shah and BV Nagarathna passed a slew of directions for reassessment notices

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

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

Supreme Court rules that SEBI must disclose

By Sneha Jaisingh and Aniruddha Banerji, Bharucha & Partners

Regulating crypto assets

The past decade has seen extraordinary growth in technological innovation

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

Mohini V enters Remfry’s equity partnership

IP disputes specialist Mohini V has joined Remfry & Sagar as an equity partner

Impact of NCLAT judgment on development financial institutions

By Soummo Biswas and Shivani Sinha, Shardul Amarchand Mangaldas & Co.

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 a gold smuggling charge

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 High Court after the banks challenged the jurisdiction of the Competition Commission of India (CCI) in April this year

Improper communication in M&A leads to trouble

By Iqbal Khan and Ambarish, Shardul Amarchand Mangaldas & Co.

Private client models enter the modern world

By Rishabh Shroff and Chirag Shah, Cyril Amarchand Mangaldas

First-to-file takes centre stage in Philippines

By Mila Federis, Federis & Associates

No escape

By Freny Patel

Among many things, the ongoing Russia-Ukraine war has put the spotlight on cryptocurrency. It is gaining global acceptance based on the sheer volume of donations flooding into war-torn Ukraine in the form of cryptocurrency, largely to finance military support. The virtual digital asset class is no longer seen as a shady “black-market” transaction owing to reliance upon it in this geopolitical and humanitarian crisis

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 Katti

Meta ready to throw in towel

By Freny Patel

Limited challenge to foreign arbitral award enforcement

By Karthik Somasundram and Bhavi Vora, Bharucha & Partners

Open access to electricity becoming a reality

By Abhishek Tripathi and Anura Gupta, Sarthak Advocates & Solicitors

The legality of games of skill

By Suhaan Mukerji, PLR Chambers

Burning question

Party autonomy now rules in arbitration law

By Shaneen Parikh and Shalaka Patil, Cyril Amarchand Mangaldas

The committee of creditors and its commercial wisdom

By Sonam Gupta, Sneha Jaisingh and Divyam Sharma, Bharucha & Partners

Changes to expect in fintech with digital KYC

By Shilpa Mankar Ahluwalia and Himanshu Malhotra, Shardul Amarchand Mangaldas & Co

Supreme Court settles turf war between TRAI and CCI

By Karthik Somasundram and Sneha Jaisingh, Bharucha & Partners

Supreme Court upholds constitutional validity of IBC

By Abhishek Dutta, Vineet Shrivastava and Manish Parmar, Aureus Law Partners

Supreme Court: Place of arbitration not always seat

By Karthik Somasundram and Sneha Jaisingh, Bharucha & Partners

In sickness & health

Transformative thinking

Supreme Court validates two-tier arbitration process

By Vivek Vashi and Utkarsh Srivastava, Bharucha & Partners

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