Insolvency And Bankruptcy Board Of India (Insolvency Resolution Process For Corporate Persons) (Second Amendment) Regulations, 2023
On September 18, 2023, the Insolvency and Bankruptcy Board of India (“IBBI”) notified a second amendment to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The key amendments are as follows: “2D. Details of debt, default and limitation in respect of applications under section 7 or section 9. While filing an application under […]
Government Seeks Public Comments On Key Changes Proposed To The Insolvency & Bankruptcy Code 2016
On January 18, 2023, Ministry of Corporate Affairs issued a notice inviting comments from public on changes being considered to the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”) aiming to enhance the efficiency of the bankruptcy process and expanding the scope of the framework. Background Prior to the commencement of the Code, the legislative […]
Lok Sabha Passes The Competition Amendment Bill 2022
On 29th March 2023, the Lok Sabha passed the Competition (Amendment) Bill, 2022, which aims to amend the Competition Act of 2002. It includes several key amendments to the existing framework, such as expansion of the scope of cartel prosecution, the introduction of a deal value threshold for mergers and combination, and the modification of […]
Reserve Bank Of India Releases Discussion Paper On Expected Loss– Based Approach For Loan Loss Provisioning By Banks
On January 16, 2023, Reserve Bank of India (“RBI”) released a Discussion Paper (“DP”) that comprehensively examines various issues and proposes a framework for adoption of an expected loss-based approach for provisioning by banks in India. RBI defines a loan loss provision as an expense that banks set aside for defaulted loans. Banks set aside […]
The Curious case of ‘Seat/Venue/Place’ in Arbitration – Need for Legal Practitioners to Employ Clear Phraseology
An attempt to catalog and straighten up the labyrinth, which surrounds the intricate subject: ‘Seat/Place/Venue’ of Arbitration. At the outset, it needs to be strictly borne mind that the Arbitration and Conciliation Act, 1996 does employ the words ‘seat’ or ‘venue’ of arbitration and only employs the word ‘place’ of arbitration in the sense of […]
The Epiphany Called Anti-Suit and Anti-Anti-Suit Injunctions
Introduction What is so unique about the Delhi High Court’s order in Interdigital Technology Corporation & Ors. v. Xiaomi Corporation & Ors.[i], (hereinafter ‘Xiaomi case’)which has pulled the Indian legal fraternity’s attention. Yes, it is the first ‘Anti-anti Suit Injunction’ order ever passed by an Indian Court. Ever heard of this legal nomenclature? I did […]
The Supreme Court Carves in Stone the Limitation Period for Appeal Before NCLAT Under Section 61 of IBC
Introduction In this Article the attempt shall be to discern the answer to two important issues in the realm of the Insolvency and Bankruptcy Code, 2016 (IBC) namely: The aforementioned issues have been squarely dealt by the recent Judgment pronounced by a three-Judge Bench of the Supreme Court V. Nagarajan v. SKS Ispat and Power […]
The Unique Position of the Architects Act, 1972
In its judgement dated March 17, 2020, in the matter of Council of Architects v. Mukesh Goyal & Ors.[1], the Supreme Court held that the Architects Act, 1972 (‘Act’) does not prohibit individuals not registered under it from engaging in the practice of architecture or functions allied thereto. This article dissects the history of this […]