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[By Sanchit Khandelwal and Shreya Iyer] The authors are students at NALSAR University of Law. Over the past decade, Indian market landscape driving on the shoulders of technology and innovation has changed drastically. Convenience and comfort have now become an important consideration in the lives of people, especially millennials. Such alterations in the lifestyle of the society or part of the society have stimulated and pioneered the emergence…
[By Utkarsh Mishra] The author is a student at Nirma University, Institute of Law. Introduction The Government of India on 24 March 2020 announced an increase in the threshold of default under Section 4 of Insolvency and Bankruptcy Code (“IBC”) to Rs 1 crore from the previous threshold of Rs 1 lakh. This move was taken by the government to protect the small and medium enterprises (“MSMEs”) from…
[By Dushyant Sharma and Sanskriti Shrimali] The authors are students at Nirma University, Institute of Law Introduction One of the premier rating agency, Moody’s has recently joined the league of other two rating agencies in downgrading India’s status to the lowest investment grade option. In its report dated 1st June 2020, the agency stated that it has downgraded India’s sovereign rating to Baa3 from Baa2 with a negative…
[By Apoorv Jaiswal and Gokul Holani] The authors are students at National University of Juridical Sciences, Kolkata and National Law Institute University, Bhopal respectively. Background The relevancy of arbitration as a method of dispute resolution has grown manifold to resolve disputes of varied subject matters. The relationship between a client and a lawyer is purely contractual, thus, the remedy of the lawyer for recovering the fee, etc., can…
[By Arshit Kapoor and Kartikey Bhalotia] The authors are students at National Law University, Odisha. Introduction This article enumerates the role of a Resolution Professional (“RP”) in carrying out the Corporate Insolvency Resolution Process (“CIRP”) as an independent umpire, as provided by the scheme of the Insolvency and Bankruptcy Code, 2016 (“IBC”). This is done in the context of the National Company Law Appellate Tribunal (“NCLAT”) recent decision…
CLICK HERE TO DOWNLOAD – The CBCL Primer on Writing Research Papers and Blogs In this lockdown, many of us are picking up the pen (or opening new word documents, if you will) to write our hearts out, be it our critique of legal developments or even suggestions. We have all found ourselves staring at our laptop screens with hundreds of Google Chrome tabs open, wondering how to…
[By Ujjwal Agrawal] The author is a student at Maharasthra National Law University, Nagpur Introduction Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC” or “the Code”) provides for the initiation of the Corporate Insolvency Initiation Process (“CIRP”) by the financial creditors of a corporate debtor. Furthermore, Section 7(3)(a) of the IBC mandates the filing of either ‘record of the default recorded with the information utility’ or…
[By Rohit Maheshwary and Shrutika Lakhotia] The authors are students at School of Law, Christ (Deemed to be University), Bengaluru. Introduction The Finance Act, 2020 has brought in some relief for the companies by swapping the Dividend Distribution Tax (“DDT”) with the classical system of dividend taxation and thus functioning as a raindrop in the drought. The Finance Minister, Ms. Nirmala Sitharaman, has closed the doors of the DDT…