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Resolution of Financial Institutions under IBC Regime: What Next?

February 6, 2020

[By Lakshmi Babu] The author is a corporate lawyer and currently pursuing LLM from Institute for Law and Finance, Frankfurt. Introduction India is witnessing an economic and consumption slowdown. The liquidity crunch in India’s shadow bank industry has slowly started to affect other sectors as well.[i] The defaults pertaining to IL&FS and the crisis faced by Punjab and Maharashtra Cooperative Bank (“PMC“) suggest the need for a more...

Transferability of Winding-Up Proceedings to NCLT After Passing Of Winding-Up Order: Upholding the Objectives of IBC

February 6, 2020

[By Aditya Suresh] The author is a third year student of National Law University, Jodhpur. Introduction The Insolvency and Bankruptcy Code[i] (“IBC”) intends to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate firms. This Code replaced the erstwhile Part VII of the Companies Act, 1956 (“1956 Act”), under which Sections 433(e) and 434 authorized the High Court to adjudicate upon winding-up petitions brought before...

The Culpability of Telecom Sector Crisis?

January 19, 2020

[By Arpit Saini] The author is a third year student of National Law University, Jodhpur and can be reached at arpitsaini07.as@gmail.com The Crisis Vodafone Idea Ltd. and Bharti Airtel have sustained their position as top-ranked mobile service providers in the Telecom Industry for several years. Within the last 14 years in the industry, as many as 10 players have either closed down their business or have undergone insolvency...

The Case for Conflict of Interest Norms for Appointment of Independent Directors

January 17, 2020

[By Prannv Dhawan] This Blog is part of a series of posts as a collaboration titled “KAIZEN” between the Centre for Business and Commercial Laws (CBCL), NLIU Bhopal and Law School Policy Review (LSPR). To view this blog on LSPR, please click here. Prannv Dhawan is a third-year student of National Law School of India University, Bengaluru. He is the founding editor of the Law School Policy Review. The debate on corporate governance...

Cross-Examination in Commercial Arbitration in India: Creating ‘Courtrooms of Choice’

January 15, 2020

[Our next Guest Post has been authored by Mr. Ajar Rab, Partner, Rab & Rab Associates LLP, Dehradun, India. The author is a leading lawyer practising in the field of arbitration law including international commercial arbitration. He is also actively involved in academia, acting as a visiting faculty at various universities. He can be reached at ajar@rabs.in] Introduction It is no secret that arbitration in India has not...

Competition Policy and Exchange of Information: An Analysis

January 2, 2020

[By Yashvardhan Singh] The author is a second year student of National Law University, Odisha and can be reached at singhyashvardhan9532@gmail.com. Introduction Exchange of information between competitors has been a cause of concern for competition regulators in various jurisdictions. The flow of ‘commercially sensitive information’ such as pricing strategies, future prices of products etc. which may lead to ‘elimination of uncertainty from the market’ has been held to...

BEPS MLI Changes- Prevention of Treaty Abuse

December 11, 2019

[By Shivam Parashar] The author is a fourth year student of University School and Law and Legal Studies, GGSIPU Delhi and can be reached at shivam.parashar13@gmail.com. Background In 2017, India became a signatory to a unique multilateral instrument- Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“BEPS MLI”). At the time of signing, it aimed to amend over eleven hundred (1,100)...

Bhanu Ram & Ors v. HBN Dairies: An Ill-Advised Broadening of the IBC’s Purview

December 5, 2019

[By Suyash Tiwari and Aditya Prasad] The authors are fourth year students of Hidayatullah National Law University, Raipur and can be reached at tiwarisuyash475@gmail.com. The Insolvency and Bankruptcy Code (“IBC” or “the Code”) recently dealt with a spate of jurisdictional disputes vis-à-vis various other statutes including the Companies Act, 2013; Prevention of Money Laundering Act, 2002; the Arbitration and Conciliation Act, 1996 and the Tea Act, 1953. This...

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