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[By Rajdeep Bhattacharjee and Tanishq Rahuja] The authors are students of Symbiosis Law School, Pune. Introduction The Competition (Amendment) Bill, 2022 proposes the addition of sub-section d in section 5(B) of the Competition Act, 2002. This new provision requires companies to have “substantial business operations” in India to come under the act’s scrutiny. The Director General of the CCI can only launch a probe if there is...
[By Vanshika Arora and Kritika Oberoi] The authors are students of Army Institute of Law, Mohali. Introduction India is on the verge of formulating a Digital Competition Act (‘DCA’) however we are experiencing a divide in opinion with respect to the relevance of a special regulation, given the supposed sufficiency of the present regulatory framework. On one end of the spectrum lie proponents of an ex-ante framework...
[By Jahnvi Pandey] The author is a student of University of Petroleum and Energy Studies, Dehradun. Introduction The Committee of Creditors (“CoC”) is said to be the custodian of public trust during the Corporate Insolvency Resolution Process (“CIRP”). The Insolvency and Bankruptcy Code, 2016 (“IBC“) envisages a doctrine of commercial wisdom by virtue of which CoC exercise their commercial decisions. Section 33(2) of IBC states that CoC...
[By Priyanshi Jain] The author is a student of Institute of Law Nirma University. Introduction Insider Trading is an illegal act of dealing in securities of a company using Unpublished Price Sensitive Information (‘UPSI’) to gain an unfair advantage over other stakeholders. In September 2022, the Hon’ble Supreme Court (‘SC’) in Securities and Exchange Board of India v. Abhijit Rajan held that motive to derive profit should...
[By Parth Bindal and Somasundararajan B] The authors are students of School of Law, UPES. ABSTRACT In this piece, the authors critically argue that the decision of the government of India to bring “non-resident investors” under the purview of the Angel Tax regime after the removal of the wording “person being a resident” from section 56(2) (vii b) of the Income Tax Act, 1961(hereinafter referred to as said section), post the amendment made...
[By Mohd. Fahad Ansari and Avnee Byotra] The authors are students of National University of Study and Research in Law (NUSRL) Ranchi. INTRODUCTION At the time of writing this article, a petition is pending before the Apex Court challenging the NCLAT Chennai judgement of C Ramasubramaniam Liquidator v. Deputy Commissioner of Income tax (Benami Prohibition) (“Ramasubramaniam”). The judgement of the Apex Court will decide the range to...
[By Aishwarya S & Meenakshi Gopakumar] The authors are students of National University of Advanced Legal Studies, Kochi. INTRODUCTION The Insolvency and Bankruptcy Code (IBC) has been under judicial scrutiny since its inception. The judiciary has played a crucial role in the influence of IBC on real estate for the benefit of the homebuyers and the Corporate Debtor (hereinafter “CD”) by introducing two novel methods, namely “Reverse...
[By Rahul Kumar and Aditya Singh] The authors are Advocate at Sarvada Legal and student at Dr. Ram Manohar Lohiya National Law University, Lucknow. Introduction Promissory estoppel is a legal principle that states that a promise made by one party can be enforced by the other party if the promisee relies on the promise to their detriment. This principle is often applied in contract law to enforce...