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Limitation in insolvency cases – Insertion of s.238A in IBA is retrospective


12th October

Relying on Report of Insolvency Law Committee, Supreme Court of India has held that insertion of Section 238A in the Insolvency and Bankruptcy Code (IBC) is retrospective.

Setting aside the NCLAT Order, the court in its judgement dated 11-10-2018 held that Limitation Act, 1963 will apply to the applications made under Section 7...

CCI amends Combination Regulations for faster disposal of M&A cases


10th October

Competition Commission of India has amended CCI (Procedure in regard to Transaction of Business relating to Combinations) Regulations, 2011 on 9-10-2018 to provide certainty, transparency and other clarificatory changes for faster disposal of combination cases.

Parties can now submit remedies voluntarily in response to the noti...

IBBI (Insolvency Resolution Process for Corporate Persons) Regulations amended


06th July, 2018

The IBC has undergone multiple amendments, since its inception in 2016. June saw another major amendment, which finally addressed a few issues which had plagued the Code and had resulted in litigation. The June amendment provided the much-needed relief to home buyers and placed them on par with financial creditors, eased the procedure for ...

Implantable medical devices will now be drugs


29th June, 2018

The Central Drugs Standard Control Organization (CDSCO) on June 22, 2018 issued a public notice regarding medical devices. Through the notice, the CDSCO has proposed to include implantable medical devices within the purview of Section 3(b)(iv) of the Drugs and Cosmetics Act, 1940 (the Act), and now would be considered as ‘drugs...

Commercial Courts…(Amendment) Bill passed by Lok Sabha


6th of August

The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018 has been passed by the Lok Sabha (lower house of the Indian Parliament).

The Bill provides for faster resolution of matters relating to commercial disputes, thus creating a positive image particularly among the fo...

TRAI’s recommendation on data privacy, security and ownership


18th July, 2018

Introduction

The Telecom Regulatory Authority of India (TRAI) released their Recommendations on Privacy, Security and Ownership of Data (the Recommendations) in context of the telecommunication domain. The Recommendations, besides elaborating on the need and importance of data privacy in te...

Reference to arbitration when one of the agreements not containing arbitration clause


7 June, 2018

Brief Overview 

In this case, several agreements and contracts were executed between various parties through their involvement in a single commercial project of a solar plant. Among the 4 agreements executed between parties, 3 contained an arbitration clause. Supreme Court in this case held that when a com...

Competition - Counsel can accompany clients during investigation before DG


30 May, 2018
Delhi High Court has held that right of a person to be accompanied/represented by an advocate cannot be extinguished considering the severe consequences of enquiry/investigation under Section 41(2) of the Competition Act.

The Court in this regard in its Judgement dated 24-5-2018 noticed absence of any such restriction in ...

Arbitration and Conciliation (Amendment) Bill, 2018

3rd April

The Union Cabinet has recently approved the Arbitration and Conciliation (Amendment) Bill 2018 for introduction before the Indian Parliament.

The Bill is meant to encourage institutional arbitration and provide for a robust Alternative Dispute Resolution (ADR) mechanism in India. This Bill comes in furtherance of the J. Srikrishna High Le...

Fugitive Economic Offenders Bill approved by Cabinet


4th April

Union Cabinet has approve the Fugitive Economic Offenders Bill, 2017 providing for measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts and empowers the Government to confiscate the properties of such offenders in India.

The term “Fugitive ...

Insolvency – ‘Moratorium’ applicable to property of ‘Personal Guarantor’


5th April

National Company Law Appellate Tribunal has held that ‘Moratorium’ under Section 14 of the Insolvency and Bankruptcy Code will not only be applicable to the property of the ‘Corporate Debtor’ but also on its ‘Personal Guarantor’.
 
Brief Facts:

Mr. V. Ramakrishnan (“1

Limitation period for filing appeals from Orders of NCLT


6th March

An appeal to NCLAT was preferred by the Appellant from an Order of the NCLT. However, such appeal was filed with a delay of 9 days after expiry of the period of limitation and the grace period provided under Section 421(3) of the Act. Accordingly, the appeal was dismissed by the NCLAT. Assailing this order of the NCLAT, the Appellant preferred an appeal b...

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