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Powers of the Facilitation Council under Section 18 of the MSME Act.

July 20, 2023

[By Arshia Ann Joy] The author is a student of the National University of Advanced Legal Studies (NUALS), Kochi.   Introduction The Micro, Small and Medium Enterprises Development Act, 2006 (hereafter ‘MSME Act’) envisages an effective and less time-consuming resolution mechanism for disputes pertaining to micro, small and medium enterprises in the country, thus facilitating the smooth functioning of these enterprises. Section 18 (2) of the MSME Act…

Reimbursements as consideration: The perplexed situation of secondment issues

July 18, 2023

[By Priyansh Sharma & Sejal Gupta] The authors are students of Institute of Law, Nirma University.   Introduction Unleashing the power of collaboration across geographical boundaries, secondment of employees has become a prevailing tradition between entities spanning different locations to send employees over, be it for temporary ventures or on project basis. However, amidst this intriguing tale, the tax landscape unveils its ever-changing twists and turns. Picture this:…

Conundrum with Treatment of ‘Indirect Secured Creditors’ during CIRP

July 18, 2023

[By Mayank Bansal & Shreya Gupta] The author are students of Dr. B.R. Ambedkar National Law University, Sonepat.   Introduction In our insolvency & bankruptcy regime, an adequate statutory mechanism is available to protect the interest of all the relevant stakeholders, especially the creditors. Normally, a secured creditor is an entity who lends money to the corporate debtor, and some assets are pledged with him as security. Recently,…

Regulating Competition in Digital Markets:  Proposing a Mixed Approach for India

July 18, 2023

[By Ridhi Gupta] The author is a student of Rajiv Gandhi National University of Law (RGNUL), Punjab.   Introduction The Ministry of Corporate Affairs in February this year, passed an order to create a Committee on Digital Competition Law (CDCL) to examine whether there is a need to have a separate legislation to regulate competition in digital markets. The report of CDCL is still awaited. The establishment of…

Critical Analysis of the SAT Order on NSE Co-location Scam

July 18, 2023

[By Vikram Singh Meena &Rajvi Shah] The authors are students of Gujarat National Law Univeristy, Gandhinagar.   Introduction Recently, the Securities Appellate Tribunal (“SAT”) set aside an order by the Securities and Exchange Board of India (SEBI) that would have compelled the National Stock Exchange (NSE) to disgorge Rs. 625 crores as a penalty for violating the SEBI (PFTUP) Regulations, 2003 in the co-location scam. In 2019, the…

Tribunal’s Discretion Under IBC: Analysing the Suresh Kumar Reddy Case

July 17, 2023

[By Pavitra Priyadarshan & Dikshya Debipya Panda] The authors are students of National Law University, Odisha.   Introduction Section 7 of the “Insolvency and Bankruptcy Code, 2016” (IBC or Code) empowers a financial creditor to file a petition at the tribunal when the debt owed to him is due. This marks the initiation of the “Corporate Insolvency Resolution Process” (CIRP) against the Corporate Debtor (CD). The tribunal’s power…

Locked-box Mechanism: A Seller Friendly Approach

July 17, 2023

[By Pranjal Kinjawadekar & Gunjan Hariramani ] The authors are students of Maharashtra National Law University Mumbai.   Introduction The significant component in any commercial contract is the pricing clause which states the pricing mechanisms which the parties would follow to complete the deal. A pricing mechanism is an important factor as it determines the amount of consideration to be paid by one party to another. In order…

Virtual Digital Currency: A Conundrum in the International Tax Regime

July 17, 2023

[By Riya Sharma] The author is a student of Institute of law, Nirma University.   Introduction The realm of international tax law is nowhere defined with its treacherously advantageous nature in the Indian income tax system. It also spans the complex web of virtual currencies that are used in the digital world. This complex scenario creates a predicament where residents of one country may earn income from foreign…

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