Corporate Law

On August 27, 2021, the Insolvency and Bankruptcy Board of India (“IBBI”), created under the 2016 insolvency law, released a discussion paper (“IBBI Discussion Paper”) on the corporate insolvency resolution process, and sought comments on its recommendations. One of IBBI's concerns that it expressed through the IBBI Discussion Paper is that while other components of the insolvency and bankruptcy ecosystem. ......

The Union Cabinet on September 15, 2021, approved major structural as well as procedural reforms in the telecom sector with the aim to protect and generate employment opportunities, promote healthy competition, protect interests of the consumers, infuse liquidity, encourage investment and reduce the regulatory burden on Telecom Service Providers ("TSPs"). ......

Prepaid Payment Instruments or simply, PPIs, may sound like a mouthful, but they have become interspersed with our daily life, and indeed transformed the way we undertake everyday transactions. Without realising it, we rely on some form of PPI for paying even at the nearest kirana shop. The usage of such PPIs has been further enhanced during the pandemic as safety and the principle of least-contact became norms to live by. ......

Section 60 of the Transfer of Property Act, 1882, lays down that after the principal money becomes due, the mortgagor can tender the money and require the mortgagee to deliver the possession of the property or the dead/documents to him. In 2020, the Supreme Court held that the right to redeem a property from a mortgagee, cannot be denied. ......

If paparazzi armed with telephoto lenses have long been the scourge of the rich and famous; civilian drones are fast becoming the new menace to the ordinary man on the street. As with all new inventions, there are upsides and downsides. The commercial drone is no exception. ......

The Government of India, in February 2021, introduced the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Rules”) under the Information Technology Act, 2000 (“IT Act”), to regulate intermediaries, publishers and individual creators of news and current affairs content and online curated content. ......

The Delhi High Court in the case of Larsen & Toubro Limited vs. Punjab National Bank recently pronounced an important judgement clarifying the duration of a claim period in a bank guarantee. The issues raised in this case pertain to the scope of Section 28 of the Indian Contract Act, 1872 ("Act"). ......

In a significant step towards firmly entrenching the will of the parties as a fundamental cornerstone of the Indian arbitration law, the Supreme Court, on August 06, 2021, ruled in the matter of Amazon.com NV Investment Holdings LLC v/S Future Retail Limited and Others (“Judgment”), and held that an emergency arbitration award was enforceable in India. ......

On July 22, 2021, the Ministry of Corporate Affairs notified the Companies (Incorporation) Fifth Amendment Rules, 2021 (“Amendment”), thereby amending the Companies (Incorporation) Rules, 2014 (“Rules”). The Amendment, has inserted a new Rule 33A (Allotment of a new name to the existing company under Section 16(3) of the Act) after Rule 33 under the Rules. ......