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Agreement in Restraint of Legal Proceedings – Is your Bank Guarantee valid?

By Sudish Sharma & Nikhil Singal

The original text of Section 28 of the Indian Contract Act, 1872, which voids agreements made (or containing clauses) in restraint of legal proceedings, has been subject to many amendments over the years. In fact, in 1997, the original Section 28 was replaced with a new one, after taking into consideration the...

Corporate Insolvency Procedure – A Comment

By Anup Koushik Karavadi

Background and need

From the Justice Eradi Committee report of 1999 to the Department of Financial Services’ indicator of October 2015, the pendency of winding-up cases in India has been piling up to reach an alarmingly high level of backlog [see end note 1]. The World Bank h...

Alternative Remedy for Imported Coal Price Escalation

By Radhika Sankaran

Of all the available sources of power generation like coal, nuclear, hydro, natural gas, and the renewable energy sources like solar, wind etc., coal continues to be the major and cost effective source of power generation in India, contributing to 70% of the country’s power requirements [End Note 1] Coal utilised for the power generation...

Amalgamation – Distinction between an instrument and instrument amounting to conveyance

By Puneeth Ganapathy

In its recent judgment in Chief Controlling Revenue Authority v. Reliance Industries Ltd., Bombay High Court has taken the view that stamp duty is payable on a High Court (‘HC’) order sanctioning a scheme of merger/reconstruction (‘scheme’), as an instrument of ‘conveyance’. The bench of three judges of the...

SEBI’s Bright Line Tests for ‘Control’ - An Analysis

By  Prarthna Baranwal


The idea of corporate control has been subject to a longstanding debate in India and elsewhere. A fluid concept such as ‘control’ is a term of wide connotation and, by its very nature, is not amenable to any precise standard definition of general application. What constitut...

Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 – A Comment

By  Anup Koushik Karavadi


The justice delivery system of our country can be excruciatingly slow. In commercial disputes, time is of the essence and delays can derail the entire remedy and relief and undermines business confidence in Indians as well as those interested in investing in India. ...

Conciliation for settling family disputes

By  Barnik Ghosh


Globally, alternative dispute resolution is slowly, but steadily becoming the preferred mode for settling disputes. Many corporates including large business conglomerates are seriously evaluating the merits of  mediation and conciliatory procedures to avoid lengthy, and expensive lit...

Start-up India plan: accelerating start-up movement

By Neeraj Dubey
The Start-up India initiative of the Government of India (“GOI”) was announced on January 16, 2016 with the aim to empower start-ups to grow through innovation and design. This initiative strives to build a strong eco-system for nurturing innovation and start-ups so that start-ups drive sustainable econo...

Wishlist 2016 for Real Estate Sector in India

By Kritika Krishnamurthy

Agricultural land in the rural areas and real estate in  cities has always been  a stable rock for economies and investors since time immemorial across the world.  Warren Buffet in his annual  letter to shareholders about investing in real estate in 2014 said  “Whatever ...

Resolving disputes the ‘Ordinance’ way

By Barnik Ghosh


The Arbitration and Conciliation Act of 1996 (‘the 1996 Act’)  was an improvement on the Arbitration Act 1940 but did not manage to put an end to the long & dreary litigation tunnels for the disputing parties with a little help from the highest court of our land. I...

Arbitration Ordinance, 2015 – ‘Public Policy’ defined

By Anup Koushik Karavadi

In order to facilitate the ease of doing business, the Government of India (‘Government’), intends to overhaul the regulations  governing business by abolishing many outdated laws and making extensive changes to the existing ones to allow companies to concentrate on their business and profits. The Government has ...

Environment Laws (Amendment) Bill, 2015: A Sisyphean Challenge

By Dr. Smita Bhatia

The Draft Environment Laws (Amendment) Bill, 2015 was published by the Ministry of Environment, Forest and Climate Change (MoEFCC) on October 7, 2015. The objectives of the Draft Bill are to provide for “effective deterrent penal provisions” and to introduce “the concept of monetary penalty for violations and contrav...

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