THE RENT CONUNDRUM IN TIMES OF THE PANDEMIC: WHETHER TO PAY OR NOT TO PAY?
The unprecedented prevalent times hit by the novel virus poses the big question of “whether to pay or not to pay the rent?” The pandemic has caused a number of big businesses to shut their operations in the last few months owing to the nation-wide lockdown. India, being one of the growing economies has seen a great influx of international brands, both in the F&B and Retail sector, in the last decade and half. But the influx brings a number of Capital Expenditure (‘Capex’) that these…
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AT-1 BONDHOLDERS AND THEIR TUSSLE FOR LEGAL RECOGNITION
Introduction: The article deals with Additional Tier-1 Bonds, popularly known as ‘AT-1 Bonds’ and the recent restructuring plan proposed by the Reserve Bank of India for the Yes Bank which has also resulted in writing off the AT-1 Bonds in totality, while using its powers conferred by the virtue of section 45 of the Banking Regulation Act, 1949. The draft restructuring plan is still pending for approval. The Reserve Bank of India by way of the restructuring plan is trying to bring Yes Bank back…
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EFFECT OF APPROVAL OF A RESOLUTION PLAN UPON PENDING CRIMINAL PROCEEDINGS AGAINST THE CORPORATE DEBTOR
INTRODUCTION This article aims to evaluate the aftereffect of the approval of a resolution plan upon pending criminal proceedings against the corporate debtor. It further discusses the intent of the legislature while inserting section 32A by way of an amendment dated 28.12.2019. By way of a recent order, the Hon’ble National Company Law Tribunal, Ahmedabad Bench held that approval of a resolution plan does not entail automatic waiver of legal proceedings against Corporate Debtor. The aforementioned…
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TOPIC: BILATERIAL INVESTMENT TREATY AND INVESTMENT ARBITRATION: A CRITIQUE FROM INDIAN PERSPECTIVE
INTRODUCTION Bilateral Investment Treaties (‘BIT’) establish the terms and conditions for private investments made by individuals and business entities from one sovereign state into other sovereign state.. The first ever BIT was entered between Germany and Pakistan on November 25, 1959 and since then, the BITs’ have evolved in an unprecedented manner. However, the genesis of across the border investments is very old and can be traced back to the colonial periods and multifold investments…
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STANDARD OF REVIEW UNDER INDIAN AND SINGAPORE JURISPRUDENCE WITH SPECIAL REFERENCE TO ANAN GROUP JUDGMENT: A COMPARATIVE ANALYSIS
INTRODUCTION Recently, the Singapore Court of Appeal in the matter of AnAnGroup (Singapore) Pte Ltd vs. VTB Bank (Public Joint Stock Company) [2020] SCGA 33 (hereinafter referred to as ‘AnAn’) dealt with an interesting question i.e. ’what happens when a debtor challenges a winding-up petition on the basis of a ‘disputed debt’ or ‘cross-claim’ that is subjected to an arbitration agreement’? The Singapore Court, while upholding its pro-arbitration stance overturned the judgment passed…
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M/S. Centrotrade Minerals And Metals Inc. V. Hindustan Copper Ltd.: Setting The Record Straight
After taking a step backward through the judgment in National Agricultural Cooperative Marketing Federation of India v. Alimenta S.A ,recently, the Hon’ble Supreme Court passed a judgment in M/s Centrotrade Minerals and Metals Inc. v. Hindustan Copper Limited while upholding the enforcement of Award passed under the rules and tribunal set up by the International Chamber of Commerce (hereinafter referred to as ‘ICC’) London on 29.09.2001 . The Hon’ble Supreme Court primarily dealt with…
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IBC: IMPACT OF COVID-19 AND THE WAY FORWARD
WHETHER COVID-19 HAS DISRUPTED INSOLVENCY AND BAKRUPTCY REGIME IN INDIA? The Insolvency and Bankruptcy Code (‘IBC’) is being considered as a landmark legislative reform in India . It has passed the test constitutional validity before the Supreme Court, undergone in depth judicial scrutiny, witnessed several legislative amendments and lead to various regulatory initiative of the IBBI during the short span of less than four years. The Finance Minister, in the fifth tranche of India’s economic…
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Fall of the giants-corporate goverance failures
The Indian Corporate landscape has come a long way. The Liberalization in 1991 paved the way for foreign companies to set up operations in the country. It has been greatly recognized that with the passage of time, the laws evolve; hence, in the same way the regulatory legal framework of companies has also matured. One such topic of debate that has been in great discussion ever since the corporate spectacle has begun is Corporate Governance. Ever since its inception, the prospects of Corporate Governance…
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