Corporate Law

In an important judgment by the Madras High Court delivered on December 15, 2021, the Court explained the circumstances under which an aggrieved party is entitled to compensatory damages and restitutionary damages, respectively. ......

The Delhi High Court (Court) recently ruled that all food business operators must make a complete disclosure of all components and measurements used in a food product. This should include information about whether the substances are derived from plants or animals. According to the Court, everyone should be entirely aware of what they consume. ......

Limited Liability Partnerships ("LLPs") are flexible legal entities that enable partners to benefit from a joint, collaborative initiative whilst reducing their liability for the actions or inactions of the other partners. This structure combines the benefits of a partnership firm and a company in that it limits the liability of partners to their contribution and constitutes a separate legal entity like a company; while also operating based on an agreement and leaving the partners to mutually decide the nuances of the business, like the internal managerial structure. ......

The Supreme Court of India ("SC") in the case Welspun Specialty Solutions Ltd. vs. ONGC , ("judgement") recently held that, merely having an explicit clause in a contract may not be sufficient to make time the essence of the contract. The SC determined whether the contract between Welspun Specialty Solutions Ltd. ("Welspun") and the Oil and Natural Gas Corporation ("ONGC") was one where time is of the essence. ......

On November 22, 2021, the Supreme Court of India in the case of Kewal Krishan vs. Rajesh Kumar & Ors. etc. , held that if a sale deed in respect of an immovable property is executed without payment of price and if it does not provide for the payment of price at a future, it is not a sale at all in the eyes of the law. ......

In a recent matter (Honda Cars India Limited vs Sudesh Berry) before the Supreme Court of India, the apex court overturned a decision of National Consumer Disputes Redressal Commission ("NCDRC") and reiterated that a vehicle manufacturer cannot be held liable for any defects in the performance of a dealer and/or an authorised service centre while servicing vehicles. ......

Under the Companies Act, 2013 ("Act"), Employee Stock Option Plans (or "ESOPs") are plans primarily designed to have the employees invest in the stock of the employer sponsoring the same. They form part of the employees’ remuneration structure and are usually unaccompanied by any upfront costs. ......

On October 8, 2021, in the case of M/s Gimpex Private Limited vs. Manoj Goel , the Supreme Court of India has held that a cheque issued pursuant to a deed of settlement between parties will be presumed to have been issued towards discharge of a debt or liability under Section 138 of the Negotiable Instruments Act ("NI Act"), which fastens criminal liability in cheque bounce cases. ......

While the pandemic changed our world overnight, it also forced us to slow down, evaluate and begin to work towards the kind of world we want to inhabit. Perhaps therefore, even amid COVID-19 induced economic slowdowns all over the world, the concept of sustainability for all factors of production remains one of the few areas with rising financial interest. ......