Corporate Law

The Ministry of Corporate Affairs, vide a notification dated May 15, 2023, notified the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023 ("Amended Rules") to streamline certain parts of extant merger and amalgamation process under the Companies Act, 2013 ("Companies Act"); and consequently amend the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. ......

The Delhi High Court has recently pronounced an important judgement on the liability of third party funders in an arbitration in the case of Tomorrow Sales Agency (P) Ltd. v. SBS Holdings, Inc. Third party funding is the process by which a party who is otherwise not connected to the proceedings, funds a dispute in return of a financial gain upon the success of the claim. ......

The Supreme Court ("SC") recently held that a writ court ordinarily should not interfere in matters relating to tender or contract. It further opined that a writ court should exercise caution when attempting to impose its decision on an employer regarding the acceptance or rejection of a tender bid, unless there is a glaringly obvious and significant issue that is brought to light. ......

On May 16, 2023, the Ministry of Finance (“MoF”) notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023 (“2023 Amendment”) to omit Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. ......

Recently, a five-judge bench of the Supreme Court rendered its judgment in N.N. Global Mercantile Private Limited v. Indo Unique Flame Limited ("N.N. Global 2") and has put to rest the question on whether arbitration agreements included in unstamped/ insufficiently stamped instruments are valid and enforceable. ......

With the development of blockchain technology, artificial intelligence and virtual digital assets, several concerns have been raised regarding the plethora of legal and ethical challenges that are likely to arise from development of these technologies, and how they will interact with the rights of individuals granted under law. ......

On April 26, 2023, the Union Cabinet approved the National Medical Devices Policy, 2023 ("Policy"). A press release issued on the same date ("Press Release") detailed the backdrop leading up to this approval and what lies in store for the future. ... ...

The Ministry of Corporate Affairs ("MCA") vide its notification dated March 17, 2023 established the Centre for Processing Accelerated Corporate Exit ("C-PACE") to facilitate and speed up the process of voluntary closure of business of companies by removal of their names from the register of companies. ......

Consumer protection laws are designed to safeguard the interests of consumers and ensure that their rights are protected in case of any deficiency in the goods or services provided to them. In India, the Consumer Protection Act, 2019 is a significant legislation that aims to protect the interests of the consumers and to establish an efficient mechanism for the redressal of consumer disputes. ......