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3D illustration of "DOUBLE TAXATION" title on legal document

June 24, 2023

[By Sanika Deshmukh and Aditya Garg] The authors are students of Gujarat National Law University.   Introduction to DTAA & MFN Clause Double Taxation Avoidance Agreement (DTAA) refers to a tax treaty between sovereign states, undertaken with an intent of fostering trade, while deterring the payment of taxes twice on the same income by taxpayers. It finds application in scenarios wherein an individual is a legal resident of…

Latent Defect Period: Application In Construction Contracts

June 24, 2023

[By Ashish Kumar and Rebecca Singh] The author are a students of NMIMS School of Law, Bangalore.   Introduction In the realm of construction and infrastructure contracts, the inclusion of a Latent Defect Period is essential to address the potential emergence of hidden flaws or deficiencies after project completion. However, this provision poses legal challenges regarding limitations and applicability. Determining a reasonable timeframe and defining eligible defects are…

Implications of CCI’s power for imposing penalties on Global Turnover

June 24, 2023

[By Himanshi Srivastava] The author is a student of Dharmashastra National Law University.   Introduction With the Competition (Amendment) Bill of 2023, receiving the President’s assent, the market is abuzz with questions revolving around the major amendment which has empowered the Competition Commission of India (CCI) to levy penalties on global turnover. In Section 27(b) of the Competition Act, the definition of turnover has been now enhanced to…

Analysing the Intricacies of Interest-free Loans within the Purview of Section 45 of IBC

June 24, 2023

[By Tushar Krishna] The author is a student of West Bengal National University of Juridical Sciences.   Introduction Section 45 of the Insolvency and Bankruptcy Code (‘IBC’) encompasses the expunction of transactions executed at undervalue, including acts of gifting or instances wherein the consideration obtained by the corporate debtor is significantly less than the value rendered by the corporate debtor. Similar provisions also resonate throughout the international landscape,…

Dilemma Over Voting Share: Insolvency And Bankruptcy Code, 2016

June 23, 2023

[By Samriddh Bindal] The author is an associate at Saikrishna & Associates.   Introduction The Insolvency and Bankruptcy Code, 2016 (‘IBC’) is regarded as one of the most significant economic legislations implemented in recent times. Unlike previous legislations, the IBC introduces a creditor-centric framework for restructuring the assets of the Debtor. It aims to expedite the process of creditors recovering funds from the Debtor and also seeks to…

A Case for Adopting ‘Law & Economics’ in Indian Commercial Jurisprudence

June 23, 2023

[By Madhav Goel] The author is an Advocate, Supreme Court of India, Delhi High Court & Tribunals.   Introduction An increasing proportion of litigation happening across Indian Courts, including the Hon’ble Supreme Court of India, is commercial and economic in nature. The manner in which the Courts interpret and apply commercial and economic laws, to myriad situations, affects how India Inc. does business. Be it insolvency, arbitration, intellectual…

Newly Regulated Digital Platforms and Self-regulation: Exploring the Mechanism’s Feasibility

June 23, 2023

[By Vanshika Agarwal] The author is a student of the West Bengal University of Juridical Sciences.   Abstract The burgeoning growth of the gaming industry has necessitated its need for regulation. The Central Government by proposing amendments to the already contentious IT Rules, 2021, has sought to bring online gaming platforms within its ambit of regulation through a template for self-regulation. Self-regulation of industries are steps taken to…

Resilience and Regulation: How India’s Banking System Thrives Amidst Crisis

June 23, 2023

[By Shobhit Shukla] The author is a student of Maharashtra National Law University, Mumbai.   In an effort to stop more damage in the banking industry, US regulators on May 1, 2023 seized struggling First Republic Bank and immediately sold all of its deposits and the majority of its assets to the nation’s largest bank, JPMorgan Chase. In the past few months, this is just another example of a…

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