Corporate Law

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. ......

Employment Laws in India have traditionally been governed by contract as well as multifarious and fragmented legislations, both at the central and state level. With a view to harmonising and consolidating the various legislations pertaining to employment, social security, wages, industrial disputes and other relevant labour/employment related matters, the Ministry of Labour and Employment ("Ministry") introduced four bills in 2019 to amalgamate 29 central laws related to labour laws. These bills have been codified and enacted. ......

"You become a celebrity, not because of your work or what you do, but because you have no privacy", said Lisa Kudrow. Celebrities across the globe are faced with the daunting task of keeping their personal lives away from public scrutiny. ......

In 2016, the Insolvency and Bankruptcy Code (“IBC”) was enacted with the objective to bring the insolvency law in India under a single unified umbrella and to ensure speedy resolution of an entity (“Corporate Debtor”) which has defaulted in payment to its creditors (including the statutory authorities). ......

While determining whether a contract created an interest in the premises or in the business, the Supreme Court recently reiterated the parol evidence rule in the case of Mangala Waman Karandikar vs. Prakash Damodar Ranade. ......

In recent years, SPACs, or ‘Special Purpose Acquisition Companies’, have snaked their way into the lexicon of every investor worth its salt. SPACs are the shiniest new ‘instrument’ on the block and the numbers lend into the hype; for instance, 2020 witnessed the execution of a record 248 SPACs raising a collective USD 83 billion on NASDAQ , even as the world succumbed to a pandemic. Further, it is estimated that there are now close to 400 SPACs on the market with more than USD 120 Billion on their balance sheets. ... ...

Section 126 of the Indian Contract Act, 1872 , states that guarantee means a contract to perform the promise or discharge the liability of a third person, in case of their default. Bank Guarantee is therefore a guarantee provide by a lending institution, wherein the debt by a debtor is covered by a Bank. ......