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[By Prashansa M. Agrawal] The author is an Advocate practicing in the High Court of Bombay. Recently, in the judgment dated 14th August 2020 in Babulal Vardharji Gurjar v. Veer Gurjar Aluminium Industries Pvt. Ltd. & Anr., the Supreme Court decided that the application filed by the financial creditor therein was not barred by limitation. While pronouncing the decision, the Supreme Court reasserted the settled aspects of limitation...
[By Amay Bahri] The author is a student at the National Law University, Delhi. Like any new legislation which is introduced, even the Insolvency and Bankruptcy Code 2016 (hereinafter ‘IBC’ or ‘the code’) has been marred by litigation since its inception. One of the more recent discussions on IBC is regarding the power of the creditor against guarantors of a corporate debtor. This discussion becomes all the more...
[By Mahima Chhabrani] The author is a student at West Bengal National University of Juridical Sciences, Kolkata (WBNUJS). Introduction Section 26(1) of the Competition Act, 2002 (hereinafter Act) confers power on the Competition Commission of India (hereinafter CCI) to order an investigation when it finds prima facie contravention of the Act. The said investigation is in no way final but a mere departmental inquiry to dig deeper into...
[By Tvishi Pant and Alefiyah Shipchandler] Tvishi is a student at ILS Law College, Pune and Alefiyah is an associate at Keystone Partners, Mumbai. Introduction Contract law allows parties to stipulate a certain sum payable upon breach of a contract. Section 74 (“S. 74”) of the Indian Contract Act, 1872 (the “Act”) provides for the payment of liquidated damages by a defaulting party upon breach of contract. Although...
[By Naman Katyal] The author is a student at Gujarat National Law University. In an interesting decision, the Federal Court of Australia in Australian Competition and Consumer Commission v. Kogan Australia Pty Ltd (17 July 2020) has ruled that the act of inflating product prices prior to a sales promotion constituted misleading and deceptive conduct. This ruling comes against the backdrop of the Australian Competition and Consumer Commission’s (‘The...
[By Kajal Singh and Nikunj Maheshwar] The authors are students at Institute of Law, Nirma University. Introduction In the backdrop of divergent national laws and broadly worded treaties, Private International Law (PIL) helps in deciding the choice of law, jurisdiction and enforcement of judgements between the sovereign states.[i] While the application of PIL in matters concerning family and property have attained some certainty, the world at large remains...
[By Jyotiranjan Mallick and Sai Akanksh Deekonda] The authors are students at the National Law Institute University, Bhopal. Introduction The current Pandemic has affected the economy by disrupting the demand and supply chain. It has exacerbated the situation by bringing financial institutions on its knees, owing to the increase in non-performing assets, and default by corporations. Policies are being introduced around the world to protect the state of...
[By Shikha Mohini] The author is a student at Symbiosis Law School, Pune. Introduction In sync with international standards, India follows two types of taxation mechanisms- residence-based and source-based. In case of residence-based taxation, the tax is levied on the global income whereas in source-based, the tax procured is only on the income generated from the source country. In order to avoid double taxation on the same income...