India Columns

HC emphasises that if the arbitrator makes a mistake in contract construction, it is an error within his jurisdiction.

Date: Jul 14, 2022

While setting aside the impugned award in the case of Delhi Development Authority vs M/S Watcon Water Specialists Pvt. Ltd. & Anr, Justice Vibhu Bakhru of the Delhi High Court stated that if the...

Supreme Court marks out differences between secured and unsecured creditors

Date: Jul 14, 2022

In its recent judgement in the Committee of Creditors of Essar Steel India Limited through Authorised Signatory vs. Satish Kumar Gupta & Ors, the Supreme Court resolved various vexing problems...

Applications made in accordance with Sections 7 and 9 of the Code from the beginning of the Code are subject to the Limitation Act.

Date: Jul 14, 2022

The question of whether the Limitation Act, 1963 applies to cases brought under the Insolvency and Bankruptcy Code, 2016, before the effective date of the Insolvency and Bankruptcy Code (Second...

Sec. 14(1)(a) declares that any arbitration that was started after the aforementioned moratorium is not admissible in court

Date: Jul 14, 2022

When a moratorium period is in effect due to an adjudicating authority order, an arbitration proceeding cannot be initiated. The definition of an arbitration proceeding is as follows: An arbitration...

Supreme Court holds that an order or recovery certificate creates a new cause of action for IBC proceedings

Date: Jul 14, 2022

In accordance with Section 62 of the 2016 Insolvency and Bankruptcy Code, the current case was filed as an appeal. The appeal was filed in opposition to the decision made by the National Company Law...

Power of review has not been expressly conferred upon NCLAT under Rule 11 of NCLAT Rules

Date: Jul 14, 2022

The National Company Law Appellate Tribunal (NCLAT) has emphasized the limited scope of powers vested in the NCLAT under Rule 11 of the National Company Law Appellate Tribunal Rules, 2016 (NCLAT...

Writing to be an acknowledgement of liability must involve an admission of subsisting jural relationship between the parties and a conscious affirmation of an intention of continuing such relationship in regard to an existing liability.

Date: Jul 14, 2022

The National Company Law Appellate Tribunal (NCLAT) held that writing to be an acknowledgement of liability must involve an admission of subsisting jural relationship between the parties and a...

There is no stamp duty on compensation awards made under Section 3(G) NHA

Date: Jul 13, 2022

The petitioners are the decree holders and owners of the land bearing survey No.604 measuring 05 acres 05 guntas, on which the NHAI took possession of an area of 10,220 sqm for the construction of a...

IBBI IS FULLY CLOTHED WITH JURISDICTION TO REGULATE PAYMENT OF REMUNERATION OF RP AND IRP BOTH BY FRAMING REGULATIONS OR BY ISSUING EXECUTIVE INSTRUCTIONS TILL REGULATIONS ARE NOT FRAMED TO REGULATE THE SUBJECT

Date: Jul 13, 2022

NCLAT held that IBBI has jurisdiction to regulate the payment of remuneration of RP and IRP both by framing regulations or by issuing executive instructions till regulations are not framed to...

Domain Name Disputes in India

Date: Jul 13, 2022

Navigating the Labyrinth: Domain Name Adjudication and Trademark Protection in India Introduction The proliferation of the internet as an indispensable platform for commerce, communication, and...

Dissolution of Partnership Firms in India

Date: Jul 13, 2022

The Labyrinth of Dissolution: A Legal Analysis of Partnership Firm Termination in India Introduction Partnership, as a business structure, has historically been a cornerstone of commerce in India....

A determinable contract cannot be awarded an injunction

Date: Jul 13, 2022

A junk selling contract existed between the two parties. It might be ended by either party given 15 days' notice. The petitioner sought interim relief, claiming that the respondent would award...

Neither the committee of creditors has the power to determine, nor the resolution professional has the power to reclassify the status of a creditor from financial creditor to operational creditor

Date: Jul 13, 2022

The National Company Law Appellate Tribunal (NCLAT) has held that neither the Committee of Creditors (CoC) has the power to determine, nor the resolution professional has the power to reclassify,...

IBC is not meant to be a replacement for a recovery forum.

Date: Jul 11, 2022

The case brought about a new understanding of the IBC wherein the IBC provisions cannot be used in any situation where there is a genuine dispute. The Code's goal is to get the Corporate Debtor out...

What constitutes a dispute under the IBC?

Date: Jul 11, 2022

The Supreme Court has finally settled the long-debated topic of what constitutes the "presence of a dispute" in the said case. In the context of the Insolvency and Bankruptcy Code, 2016, the meaning...

The Applicability Of Moratorium On Personal Guarantor Under Section 14 Of The Insolvency And Bankruptcy Code.

Date: Jul 11, 2022

The Supreme Court gave clear guidance regarding the application of a moratorium period to a corporate surety. In the instant case titled State Bank of India v. Ramakrishnan and Ors. the issue that...

Interpreting certain sections of the Insolvency and Bankruptcy Code, 2016 for foreign operational creditors

Date: Jul 11, 2022

The Hon’ble Supreme Court has, through the present decision, effectively allowed foreign operational creditors to expeditiously file an application and possibly recover their unpaid dues without...

Rights of Suspended Board of Directors

Date: Jul 11, 2022

The Supreme Court held that the board of directors should be given the resolution plans so that they may present greater information to the creditors' committee about their indebtedness. Despite...

Once the application against the Principal Borrower is accepted, the other action against the Guarantor for the identical sum should not have been entertained

Date: Jul 11, 2022

IFCI Ltd, a Delhi-based lender, filed a petition with the National Company Law Tribunal (NCLT) to stop the other lenders from selling Videocon Industries' oil assets and consumer durables company...

Dissenting financial creditors cannot be discriminated against in a resolution plan

Date: Jul 11, 2022

The National Company Law Appellate Tribunal (NCLAT) held that dissenting financial creditors cannot be discriminated against in a resolution plan. In the instant case titled Hero Fincorp Limited v....

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