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Effect of an unstamped agreement containing an arbitration clause

By  Siddharth Agrawal and Himanshu Setia

Recently, the Supreme Court in Garware Wall Ropes Ltd. v. Coastal Marine Constructions & Engineering Ltd. [2019 SCC Online SC 515; Civil Appeal No. 3631 of 2019] (“Garware Wall Ropes”) decided the effect of an arbitra...

Issuance of shares with differential voting rights

By  Tanushree Pande

The recent trend in the area of corporate laws has led to the emergence of various investments tools with multiple ways and options to retain control in the company. These instruments have been brought to fore to keep in...

Supreme Court restates law vis-à-vis an arbitrator’s power to grant interest

By  Ankit Parhar

The Hon'ble Supreme Court has recently restated the law vis-à-vis an Arbitrator’s power to grant interest under the Arbitration and Conciliation Act, 1996 (‘1996 Act’) in Jaiprakash Associates Ltd. v. Tehri Hydro Development Corporation India Ltd.[Civil Ap...

Companies (Significant Beneficial Owners) Amendment Rules, 2019: Significant clarity at last

By Sudish Sharma, Samad Ali and Anantha Desikan S


The Companies (Significant Beneficial Owners) Rules, 2018 (“SBO Rules”) was notified on June 14, 2018. The SBO Rules endeavor to identify the natural person who holds beneficial interest in a company, by laying down multi-layered cr...

Maximum pensionable salary - SC upholds HC judgment quashing cap thereon

By Ankit Parhar

The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (“EPF Act”) is a social welfare legislation enacted to provide social security to employees in the form of retirement or old age benefits. The EPF Act extends to the whole of India, except the State of Jammu & Kashmir, and applies to every es...

Banning of Unregulated Deposits Schemes Ordinance, 2019

By  Sudish Sharma and Vishakha Singh

Indian economy in the recent times has witnessed a plethora of fraudulent corporate malpractices. The issue of illegal deposit-taking activities has been a concerning one, causing various financial frauds in forms of ‘ponzi’ schemes, ‘chit funds’ scams etc. There h...

Relief to disqualified directors under the Companies Act, 2013

By  Tanya Sharma and Anantha Desikan

Section 164 of the Companies Act, 2013 (“Companies Act”) deals with the eligibility criteria for appointment of a director in a company and one of the eligibility criteria is that in case a company does not file the financial statements or annual returns for a continuous period of 3 (three) y...

Directors receiving remuneration are employees as per ESI Act

By  Ankit Parhar
In Employees' State Insurance Corporation v. Venus Alloy Pvt. Ltd.[See endnote 1], the Supreme Court has held that Directors of a company, who are receiving remuneration, would fall within the definition of an “employee” as provided under Section 2(9) of the Employees' State Insurance Act, ...

Indemnity clause in a Share Purchase Agreement

By Anurag Pareek


Indemnity is the promise by one to compensate for any loss, liability or damage incurred by another due to an act or omission on the part of one or of some third person or an event. Section 124 of the Indian Contract Act, 1872 (Contract Act) defines a ‘contract of indemn...

Corporate Insolvency Resolution Proceedings under IBC are independent of winding-up proceeding under Companies Act, 1956

By Ankit Parhar

In Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd.[See endnote 1], the Supreme Court has held that an Insolvency Petition may be filed against a corporate debtor irrespective of the pendency of a winding-up petition before a High Court

The facts before the Supreme Court were that an Operationa...

Diagnosing the issues of E-pharmacies

By Ahalya Chalasanil

With the increasing usage of internet, sale of most day to day things have gradually changed from traditional shops to online retail. Pharmacies are no exception to this. Though retail E-pharmacies began in Europe sixteen years ago, India is a recent entrant into this arena.  Of late, there has been a lot of debate on th...

Liquidated damages in Share Purchase Agreements

By Anurag Pareek

Liquidated damages (LDs) are the pre-estimated sum to be paid by way of compensation in the event of breach of a stipulated term of the contract. Share purchase Agreements (SPAs) frequently provide for LDs in the event of certain breaches. Such provisions, where valid, are applied to fix the measure of damages, replacing the elem...

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