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[By Suprabh Garg] The author is a third year student of National Law University, Odisha. INTRODUCTION The Insolvency and Bankruptcy Code, 2016 [“IBC”] empowers the Operational Creditors to initiate Corporate Insolvency Resolution Process [“CIRP”] against a Corporate Debtor, if it defaults in payment of ‘operational debt’. However, the ongoing debate whether Trade Union constitute as Operational Creditors, has been finally settled by the Apex Court in the case…
[By Suprabh Garg and Arshit Kapoor] The authors are third and second year students of National Law University, Odisha BACKGROUND The Reserve Bank of India (“RBI”) has finally released the much-awaited circular for dealing with stressed assets named Prudential framework for Resolution of Stressed Assets (“Framework”) [[i]]. This circular is a replacement for the earlier circular on Resolution of Stressed Assets dated 12th February 2018 (“Earlier Circular”) [[ii]].…
[By Prakhar Khandelwal and Rachita Shah] The authors are third year students of National Law Institute University, Bhopal Introduction Almost twenty-five years ago, the world was introduced to the internet, which poised us towards a new era of technological excellency. Today, with cryptocurrencies and its related technology at rise, we are at the starting point of yet another such revolution. The cryptocurrency industry is still in its premature…
[By Akash Mukherjee] The author is a third-year undergraduate student at National Law University, Jodhpur Introduction The Insolvency and Bankruptcy Code, 2016 (hereinafter “the Code”) was enacted on 28th May, 2016. It has been in force for over three years, successfully operationalizing a mechanism for corporate insolvency resolution. The objective of the enactment was to provide an effective legal framework for the development of the credit market and…
[By Saket Agarwal] The author is a student of National Law University, Jodhpur Abstract Oppression and mismanagement has been provided under Section 241 of the Companies Act, 2013.[1] Oppression is an act which lacks probity and fair dealing to a member and is burdensome, harsh and wrongful.[2] Mismanagement comes into play when there is a mismanagement or apprehension of mismanagement of the affairs of the company.[3] The section…
[By Himani Singh] The author is an Advocate enrolled at Bar Council of Maharashtra and Goa Introduction ‘Non-banking Financial Companies’ (NBFCs) are financial institutions registered under the Companies Act, 1956(now Companies Act, 2013) and may engage in businesses such as loans and advances, acquisition of marketable securities, leasing, hire-purchase, insurance etc. To operate as an NBFC, the company must also have a valid registration under Section 45-IA of…
[By Sikander Hyaat Khan and Parina Muchhala] Sikander Hyaat Khan (4th year) and Parina Muchhala (2nd year) are students of Maharashtra National Law University Mumbai Transparency has assumed an important position in the contemporary international arbitration dynamic. A major aspect of transparency in international arbitration regime is that of third party or amicus submissions. This holds true even more in the realm of investment arbitration, where there is…
[By Aditya Anand] The author is a Third Year student at NLU, Delhi. He can be reached at [email protected] Towards the end of 2017, Reuters published a news report[i] in which it claimed that three days before Dr Reddy’s Laboratories Ltd announced quarterly results, a message was circulated on the popular social media platform, ‘WhatsApp’, stating that the company would be reporting a loss which in time proved…