Corporate Law

The Government of India, in supersession of the Information Technology (Intermediary Guidelines) Rules, 2011, notified the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (hereinafter referred to as the “Rules”) under the Information Technology Act, 2000 (“IT Act”) on February 25, 2021. ......

On May 21, 2021, the Apex Court of India, in the case of Lalit Kumar Jain vs. Union of India & Ors. , upheld the validity of the Centre's notification dated November 15, 2019, allowing banks to proceed against personal guarantors for recovery of loans given to a company under the Insolvency and Bankruptcy Code, 2016 (IBC) (“Notification”). ......

The Supreme Court has recently, in the case of The Chief Election Commissioner of India Vs. M.R Vijaybhaskar & Ors. ("Judgment"), reiterated the inalienable right of the media to report oral remarks of judges during the course of any hearing. A bench, led by Justice DY Chandrachud, comprehensively tackled this precarious question which had found its way to the Apex Court. ......

Cairn Energy PLC (“Cairn Energy”) is one of Europe's leading independent oil and gas exploration and development companies and its dispute with the Indian government has recently been making headlines here in India as well as across the globe. ......

The law should not be used in a manner that has chilling effects on the ‘freedom of speech and expression’, observed the Supreme Court of India in S. Khushboo v. Kanniammal . Based on the same rationale, a petition has been filed by journalists Kishorechandra Wangkemcha and Kanhaiya Lal Shukla (“Petitioners”), for challenging Section 124A of the Indian Penal Code, 1860 (“IPC”) which penalises the crime of ‘sedition’ (“Petition”). ......

In the past, the Supreme Court has examined what would transpire in the event an arbitration agreement was not duly stamped. The Supreme Court, in the case of M/S Sms Tea Estates P.Ltd v. M/S Chandmari Tea Co. P.Ltd (“SMS Tea Estate Decision”), when examining an application under Section 11 of the Arbitration and Conciliation Act, 1996 (“Act”) held that, a court before admitting any contract into evidence or acting upon the contract, needs to examine whether the contract has been duly stamped. ......

The past few years have seen some breath-taking innovation take place across sectors and industries, which have revolutionised the traditional lens with which these industries were once perceived. For instance, in a demonstration of sheer democratisation, the prominent stock exchanges, including the New York Stock Exchange, once thought to be solely the bastion of the intimidating Wall Street steadies, was taken over by regular individuals belonging to the website Reddit. ......

On April 4th, 2021, the Insolvency and Bankruptcy Board of India (“IBBI”) notified the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (“Ordinance”) that introduces the Pre-packaged Insolvency Resolution Process (“PPIRP”) for micro, small and medium entities (“MSMEs”). The Ordinance comes into effect from April 4th, 2021. ......

In a recent judgment delivered by the Supreme Court of India ("Court") in Laxmi Pat Surana vs. Union Bank of India & Anr. , the Court has held that the principal borrower need not be a ‘corporate person’ for insolvency process to be initiated against a company which stood as its guarantor, under the Insolvency and Bankruptcy Code, 2016 ("IBC"). ......