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Competition law - Restrictions on sub-dealers when not anti-competitive


24th June

CCI has held that no case u/s. 3(4)(c) of Competition Act was made out against a mobile phone company for putting restriction on sub-dealers regarding online sale and selling phones outside demarcated region.

Commission in Karni Communications v. Haicheng Vivo Mobile held that imposition of Resale Price Maintenance throug...

Claim under s.70 of Contract Act when parties have a binding contract


6th of June

Supreme Court has held that claim under Section 70 of the Indian Contract Act, 1872 can...

Amendment to Section 148 of Negotiable Instruments Act has retrospective application


7th of June

While considering the objects for the amendment to Section 148 of the Negotiable Instruments Act, 1881  and the interpretation of Section 148 of the NI Act, the Supreme Court held that Section 148 of the NI Act as amended, shall be applicable in respect of appeals against the order of conviction and sentence for an offence under Section 1...

Certain provisions of Competition Act held unconstitutional – Court directs CCI to formulate regulations


15th April

Delhi High Court has declared Section 22(3) of the Competition Act (except proviso), relating to meetings of the Commission, as unconstitutional and void. Section 53E, in respect of COMPAT, as it stood before the amendment by the Finance Act, 2017 was also held to be unconstitutional.  

Observing that there should not be any...

RBI circular triggering IBC on debtors in general, declared ultra vires


5th April 

Supreme Court has declared the RBI Circular dated 12-02-2018, by which the RBI promulgated a revised framework for resolution of stressed assets, ultra vires Section 35AA of the Banking Regulation Act. It declared all actions proceeded against debtors, triggered under Section 7 of the Insolvency Code, as a result of the said circu...

Arbitrability of dispute under TP Act – SC refers matter to Larger Bench


11th March

Supreme Court has referred the question of arbitrability under Transfer of Property Act to the Larger Bench.

Holding that judgment in Himangni Enterprises is required to relooked, it observed that there is nothing in TP Act that shows that a dispute as to determination of lease cannot be decided by arbitration. It was no...

E-Form INC-22A ACTIVE – Companies (Incorporation) Rules amended


26th February

On February 21, 2019, the Ministry of Corporate Affairs (“MCA”), in exercise of its powers under the Companies Act, 2013 (“Companies Act”) issued the Companies (Incorporation) Amendment Rules, 2019 (“Incorporation Amendment Rules”) to amend and incorporate Rule 25A to the Companies (Incorporation) Rules, 2...

Company seeking voluntary removal under Section 248(2) be treated sympathetically


8th February

NCLAT has held that a company seeking voluntary removal of its name from register of companies should be treated sympathetically by the Registrar.

It was held that such company should not be resisted from taking benefits of provisions under Section 248(2) of the Companies Act, 2013 or the Condonation of Delay Scheme, 2018.

Insolvency and Bankruptcy Code is constitutionally valid: SC


1st February 

Supreme Court has upheld constitutional validity of various provisions of Insolvency and Bankruptcy Code, 2016. It noted that the Code is a beneficial legislation which puts corporate debtor back on its feet, not being a mere recovery legislation for creditors.

Observing that there is no liquidation, even in the preamble,...

Competition - Director can be proceeded against on violation of Sections 3 & 4


29th January

The Delhi High Court has held that officers or directors of a company can be proceeded against for violation of Sections 3 and 4 of the Competition Act, dismissing the plea that directors are punishable only where CCI order is not obeyed.

It stated that it would be an anathema if officers/directors could not be punished.
...

Insolvency proceedings can be initiated against ‘corporate guarantor’


22nd January

The NCLAT has held that without initiating Corporate Insolvency Resolution Process (CIRP) against the principal borrower, financial creditor can initiate CIRP against the Corporate Guarantors.

It noted that as per IBC Section 5(8)(h), counter-indemnity obligation in respect of a guarantee comes within the meaning of a ‘fi...

Revised policy on FDI in E-Commerce in India


On December 26, 2018, the Government of India, issued a press note (“Press Note”) to clarify the existing foreign direct investment (FDI) policy on e-commerce sector. The provisions of the Press Note will be effective from February 01, 2019. We have summarized the amendments introduced by the Press Note on the existing FDI policy on e-commerce along with the impacts of such amendmen...

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