Resolving The Unresolved: A Transformative Approach Inviting India’s Focus To Mediation

“An ounce of mediation is worth a pound of arbitration and a ton of litigation!” ­– Joseph Grynbaum The Ministry of Law and Justice on November 5th 2021 released the Draft Mediation Bill, 2021[1] (”Bill”) and invited public comments and consultation. The Draft Bill lays down several objectives including promotion, encouragement and facilitation of mediation […]

Does The Restoration Of An Appeal Filed Under Section 37 Of The Arbitration & Conciliation Act (1996) Constitute A Pre-Existing Dispute Under The IBC?

In M/S Jai Balaji Industries Vs. D. K. Mohanty & Anr., 2021, the Operational Creditor (OC) filed an appeal before the Supreme Court under Section 62 of Insolvency and Bankruptcy Code, 2016, (Code) against the order passed by National Company Law Appellate Tribunal, (NCLAT). NCLAT held that the Operational Debt claimed by the OC was not free from pre-existing dispute and subsequently set […]

When Zero Hour Strikes: The Insolvency And Bankruptcy Code As An Exit Mechanism

The Insolvency and Bankruptcy Code, 2016 (“Code”) caused a magnanimous shift in the field of insolvency and bankruptcy laws in India. The Code has transformed the insolvency regime from a “debtor in possession” to a “creditor in control” one, providing major control to the financial and operational creditors of a corporate debtor in an insolvency […]

Companies Act 2013: Criminal Liability Of Directors And Key Managerial Persons

While registered companies are considered separate legal entities, they rely on various officers to act and take necessary decisions on their behalf to function in a manner that is efficient and compliant with legal obligations. This fiduciary responsibility is assigned to its directors and key managerial persons (collectively referred to as “officers”). Such officers are required to discharge their […]

New Trends and Developments in The Private Equity Industry in India

While inbound investments into India were hit hard due to the pandemic in the early days, one can confidently say that there has been an upswing in private equity deals in recent times. Although India’s GDP contraction of more than 10% occurred initially, leading to the highest-ever annual fiscal deficit at 9.5% for the fiscal […]

Enforceability Of Emergency Arbitration Award Under Indian Law

Emergency arbitration is a concept that allows a party to apply for urgent temporary relief before an arbitration tribunal has been officially established. Simply put, emergency arbitration is a time-bound and short-term solution for parties that are not in a position to wait for the formation of the arbitral tribunal. Any emergency relief granted takes […]

Banking Fraud In India: Challenges And Measures For Prevention

Banking Fraud in India “Banks are the lifelines of an economy and play a catalytic role in activating and sustaining economic growth, especially, in developing countries and India is no exception.” – SS Mundra, Deputy Governor of RBI In the past few decades, the Indian banking sector has made significant advances in terms of security […]

Vehicle Scrappage Policy 2021

The Vehicle Scrappage Policy was initially announced in the Union Budget for 2021-22 on February 1st 2021 by Finance Minister Nirmala Sitharaman where she stated that “the government will announce a voluntary vehicle scrapping policy to phase out old and unfit vehicles.” Further, on March 18th 2021, Nitin Gadkari, Minister for Road Transport and Highways, announced […]

Analyzing The Draft Consumer Protection (Direct Selling) Rules, 2021

Before 2021, there was a dearth of proper mechanisms or legislation to regulate and keep a check on the system of direct selling. In fact, the term ‘direct selling’[1] got material recognition in the Indian law only recently through the enactment of The Consumer Protection Act, 2019. However, the mere introduction of definition was not […]