The Securities and Exchange Board of India issued a circular dated July 31, 2023, providing the guidelines for online resolution of disputes in the Indian Market. The SEBI ODR Circular introduces a comprehensive and all-encompassing framework designed to effectively tackle a diverse array of potential conflicts that are anticipated to arise within the dynamic landscape… Continue reading Online Resolution of Disputes in the Indian Securities Market
The Jan Vishwas (Amendment of Provisions) Act, 2023, was passed in Lok Sabha on 27th June 2023, Rajya Sabha on 2nd August 2023 and received President’s assent on 11th August 2023. The Act amends a total of 183 amendments across 42 Acts administered by 19 Ministries to reduce the compliance burden on individuals and businesses… Continue reading The Jan Vishwas (Amendment of Provisions) Act, 2023: A Brief Primer
The National Company Law Tribunal, Mumbai Bench in Sheeba Rajan V/s Trans Tech Turnkey Private Limited [CP (IB) No. 223/MB-IV/2023] vide Order dated 25.07.2023 held that even a company undergoing winding up process under Section under 433 of the Companies Act, 1956 in High Court can now apply under for corporate insolvency resolution process. Facts… Continue reading Company under winding up process under Section 271 of the Companies Act, 2013 can apply for corporate insolvency resolution process: NCLT Mumbai
Case Details: Paschimanchal Vidyut Vitran Nigam Ltd V. Raman Ispat Private Limited & Ors. Citation: Civil Appeal No. 7976 of 2019 Hon’ble Judges/Coram: S. Ravindra Bhat and Dipankar Datta, JJ. Decided On: 17.07.2023. Introduction A division bench of Justices S Ravindra Bhat and Dipankar Dutta of the Hon’ble Supreme Court held that the provisions of… Continue reading IBC overrides Electricity acts Non-Obstante Clause: Supreme Court
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Implications of Alleged Fraud: Auditors disqualification under section 140(5) of Companies Act, 2013. Case Details: Union of India vs Deloitte Haskins and Sells LLP Citation: MANU/SC/0518/2023 Hon’ble Judges/Coram: M.R. Shah and M.M. Sundresh, JJ. Decided On: 03.05.2023. Introduction In a landmark decision, the Supreme Court of India addressed the constitutionality of Section 140(5) of… Continue reading Untitled Blogger Post
Avoiding Legal Troubles: The Necessity of Properly Closing Down a Failed Company in India A common and popular notion today is that the success of young entrepreneurs will be key to India’s transformation in the new millennium. While I completely agree, it doesn’t mean that young entrepreneurs are not failing at all in India.… Continue reading Untitled Blogger Post
In a game changing move India allows entry of foreign lawyers and law firms in India Bar Council of India has globalised legal industry and allowed entry of foreign law firms and foreign lawyers in India. As India’s economy is performing well despite of a global economic slowdown especially in the developed nations, this move… Continue reading In a game changing move India allows entry of foreign lawyers and law firms in India
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Resolution Profession obligated to include delayed claims of homebuyers included in Memorandum of Information The Hon’ble National Company Law Appellate Tribunal in Puneet Kaur v. KV Developers 2022 SCC OnLine NCLAT 245 adjudicated on the issue whether Resolution Professional should have included the details of Homebuyers as reflected in the records of the Corporate Debtor… Continue reading Resolution Profession obligated to include delayed claims of homebuyers included in Memorandum of Information
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