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[By Damini Chouhan & Vinisha Jain] The authors are students at the Institute of law, Nirma University. Background The Covid-19 pandemic was no less than a catastrophe for economies around the world. In India, insolvency resolution process among other economic activities has suffered a huge setback. The funds invested by the creditors have remained blocked for an entire year and the delay has worsened the stress on ailing…
[By Simran Lunagariya & Unnati Jain] The authors are students at the Institute of Law, Nirma University. Introduction Covid-19 has created unprecedented and irreversible business and regulatory disruptions across the globe. At this juncture, India is in dire need to stabilize its global economic position. The Indian economy has been adversely affected, and the GDP for the year 2020-21 went down by 7.7%. Also, a job loss of…
[By Abhishek Jha & Rishi Raj] The authors are students at the Maharashtra National Law University, Aurangabad. Introduction The Insolvency and Bankruptcy Code 2016 (“the Code”), a milestone in the Indian Legislative journey has by far been successful in safeguarding the interests of most stakeholders, if not all. However, one such stakeholder has lagged behind, i.e., the homebuyers. Even after substantial developments in the Code, the homebuyers still…
[By Sourav Jena & Shivani Pattnaik] The authors are students at the National Law University, Odisha. The insertion of Section 29A in the Insolvency and Bankruptcy Code, 2016 (“IBC”) has been a turning point in the Corporate Insolvency Resolution Process (“CIRP”). Prior to its existence, any individual who submitted a resolution plan could qualify as a resolution applicant. However, this technicality served as a ‘back-door entry’ for individuals…
[By Aniket Panchal & Mehar Kaur Arora] The authors are students at the Gujarat National Law University. Introduction: setting the tone The arbitrability of competition law disputes has always been a hot potato. In this regard, arbitrability can be defined as ‘the ability of a dispute to constitute the subject matter of the arbitration.[i] That said, there is no denying the fact that the Competition Law and Arbitration…
[By Neil Kothari and Nidhi Agarwal] Neil is a student at Government Law College, Mumbai and Nidhi is a student at Rizvi Law College, Mumbai. INTRODUCTION On 04th April 2021, an ordinance[i] was passed by the Government whereby a separate chapter, Chapter IIIA, was inserted in the Insolvency and Bankruptcy Code 2016 (“The Code”) dealing with pre-packaged insolvency resolution process. Due to the outbreak of the Covid-19 pandemic,…
[By Sanskriti Srimali and Dushyant Sharma] The authors are students at Institute of Law, Nirma University. “Never let a serious crisis go to waste.” –Rahm Emanuel The economic jitters induced by the pandemic are still reeling around the globe. Post pandemic economic recovery has taken the centre stage at a global level. Undoubtedly, governments, around the world, have to be the front-runners to revive the global economy. However,…
[By Prerna Mayea and Harshal Sareen] The authors are students at the Institute of Law, Nirma University. Many events have been witnessed recently, such as the G7 nation’s approval and the United States’ proposal for Global Minimum Corporate Tax Rate [“GMCTR”] which shows that a global movement towards a comprehensive overhaul of the global tax system has gained traction. In a study by the Tax Justice Network, countries…