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Fresh Start: Balance Sheet Entries Read With Supporting Records Constitute Debt Aknowledgement, Resets Limitation

Summary: The Supreme Court has held that entries in a corporate debtor’s balance sheet, when read alongside corroborative materials including cash flow statements, constitute a valid acknowledgement of debt under Section 18 of the Limitation Act, 1963, thereby resetting the period of limitation for creditors to initiate insolvency proceedings. This ruling strengthens the position of creditors under the Insolvency and Bankruptcy Code, 2016, ensuring that procedural technicalities do not frustrate their rights to take recourse through insolvency proceedings. It also places greater responsibility on auditors and accountants, as financial statements may now carry significant consequences for both debtors and creditors by operating as binding acknowledgements of liability.

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Efficiency Versus Procedural Fairness – Bombay High Court Reaffirms Governing Principles

Summary: This article examines the Bombay High Court’s ruling that foreign decrees from reciprocating territories are executable as domestic decrees, provided they satisfy Section 13 of the CPC, affirming the position that executing courts retain discretion to permit evidence in ‘exceptional’ cases.

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Two States: Stamp Duty On Merger Orders Passed By Two Different Tribunals

The Companies Act, 2013 (“CA 2013”), and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (“2016 Rules”), allow companies to jointly or separately file an application for merger or amalgamation before the National Company Law Tribunal (“NCLT”). However, companies with registered offices in two different States must file two separate applications (unless a specific exemption has been obtained to file a joint petition) as the scheme will have to be approved by the two NCLTs having jurisdiction over the companies.

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Judicial Restraint In Arbitral Substitution: Key Takeaways From Ankhim Holdings V. Zaveri Construction

Summary: This article analyses the Supreme Court’s decision in Ankhim Holdings Pvt. Ltd. & Anr. v. Zaveri Construction Pvt. Ltd., which reiterates the limited role of courts under Section 15(2) of the Arbitration and Conciliation Act, 1996. The Supreme Court held that substitution of an arbitrator does not permit courts to revisit or nullify prior arbitral proceedings, reaffirming the Act’s self‑contained structure and its emphasis on minimal judicial intervention.

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BNSS and the pre-cognizance imperative: Procedural safeguard u/s 223 applies even to PMLA Complaints

Summary: The proviso to Section 223(1) of the BNSS, 2023, stipulates that a Magistrate shall not take cognizance of an offence without first affording the accused an opportunity to be heard. By its judgement in Kushal Kumar Agarwal v. Directorate of Enforcement[1] (“Kushal Kumar”),the Hon’ble Supreme Court has clarified that this safeguard under the BNSS shall also apply to complaints filed under Section 44(1)(b) of the Prevention of Money Laundering Act, 2002 (“PMLA”), after July 1, 2024, viz. the date BNSS came into force. The ratio from Kushal Kumar has since been followed inter alia by the High Courts of Delhi and Kerala. These judgements reinforce a significant procedural safeguard for accused persons even under the stringent PMLA, while highlighting a marked departure from the regime under the Code of Criminal Procedure, 1973 (“CrPC”). An associated issue is whether cognizance on a supplementary complaint under the PMLA, filed after July 1, 2024, will also be bound by the safeguard of Section 223(1) of the BNSS, if cognizance on the main complaint was taken prior to July 1, 2024.

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When Policy Isn’t Law: Why Press Releases Don’t Trigger “Change in Law” Compensation

Summary: The Supreme Court’s ruling in Nabha Power v. PSPCL makes a clear distinction: government press releases and policy clarifications, even if they affect project economics, do not qualify as “Change in Law” under Power Purchase Agreements. Only formal legal instruments like statutes, rules, regulations, or gazette notifications carry the weight needed to trigger compensation. This brings greater certainty for regulators and distribution companies, but it also means developers must be more cautious when bidding, since informal policy signals can no longer be relied upon for relief. The decision ultimately reinforces contractual discipline while reminding the sector that policy announcements must be formally notified to have legal effect.

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Supreme Court Clarifies the Trigger Point for Commencement of Arbitration under Indian Laws

Summary: The Supreme Court has addressed a long-standing issue in arbitration law, holding that the receipt of the arbitration notice marks the commencement of arbitral proceedings for the purposes of limitation period, interim reliefs, and procedural laws.

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To Gift or Not To Gift: A Guide to Gifts and Hospitality to Indian Government Officials

Summary: Extending gifts and hospitality to Indian government officials, while culturally customary, presents significant legal and reputational risks under India’s anti-corruption framework. This article examines monetary thresholds, ministerial restrictions, and the practical implications of India’s anti-bribery law while providing organisations with actionable strategies to build the “adequate procedures” defence, which stands as the only statutory shield against corporate criminal liability.

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Navigating Brand Endorsement Disputes

Summary: This blog examines the statutory and judicial framework governing various types of brand endorsement disputes in India, including consumer protection claims concerning misleading advertisements, endorser/brand ambassador liabilities and contractual disputes.

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The MoRTH Circular to end arbitration in disputes over 10 crores: Unilateral Change or Contractual Overreach?

Summary: The Ministry of Road Transport and Highways (MoRTH) circular dated January 12, 2026, provides that arbitration will not be available for disputes exceeding INR 10 crore in BOT, HAM, and EPC contracts, purporting to replace existing dispute resolution clauses with immediate effect. This raises critical questions: Can a government circular unilaterally amend signed contracts that expressly require written consent for modifications? While prospective application may be defensible, retrospective substitution of dispute resolution mechanism, without mutual consent, presents serious enforceability concerns and challenges fundamental principles of contractual sanctity. The circular’s ambiguous carve-out for “ongoing arbitrations” adds further uncertainty, particularly about disputes at pre-arbitral stages. This development marks a significant departure from India’s pro-arbitration stance and warrants careful legal and policy scrutiny.

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