Dispute Resolution

Introduction

The Micro, Small and Medium Enterprises Development Act, 2006 (“MSME Act”), aims to promote,  develop and enhance the competitiveness of MSMEs. To address the issue of delayed payments, several provisions of the MSME Act provide additional safeguards and benefits to MSMEs. One such safeguard is Section 15, which outlines the buyer’s liability to make payments due to MSMEs once the goods or services are accepted/ deemed to be accepted.[1] Similarly, Section 16, read with Section 17, states that delays in payments for goods supplied or services rendered by MSMEs, shall attract a compound interest rate of three times the bank rate notified by the Reserve Bank of India.[2] Further, reference to the Micro and Small Enterprises Facilitation Council (“MSEFC”) for any amount due under Section 17 can be made under Section 18. However, questions on the applicability of this statutory provision are raised, when parties to a dispute do not invoke the MSEFC mechanism and go under the pre-existing arbitration agreements.Continue Reading Arbitration Agreements v. MSME Act: Can interest rates under MSME Act survive outside of Section 18 proceedings?

Introduction

The Foreign Contribution (Regulation) Act, 2010 (“FCRA/Act”), is an important piece of legislation that Parliament has enacted to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for activities detrimental to national interest.Continue Reading Navigating the Evolving FCRA Landscape: Enhanced Responsibility of Chartered Accountants

Chinese Goods, India Exports: Substantial transformation or risky transshipment?

There is increasing uncertainty surrounding the legal and commercial aspects of trade, against the backdrop of the United States imposing new tariffs. This evolving landscape of international trade exposes Indian exporters to heightened scrutiny under the US customs regulations, specifically those concerning transshipment of goods and adherence to the US Customs and Border Protection (“CBP”) rules of origin (“Rules of Origin”).Continue Reading Chinese Goods, India Exports: Substantial transformation or risky transshipment?

Emergency Arbitration: A Legal Lifeline or a Paper Tiger?

Introduction

Emergency arbitration (“EA”) is a pre-cursory mechanism in the arbitration process that allows parties to seek urgent interim reliefs prior to the constitution of the arbitral tribunal. To invoke EA, the party invoking the process must establish that it would face irreparable harm if the protection/ measures sought in the EA are not granted before the constitution of the arbitral tribunal.Continue Reading Emergency Arbitration: A Legal Lifeline or a Paper Tiger?

Treatment of Recoveries from Avoidance Transactions under the Resolution Plan

Introduction

In a landmark decision[i] rendered on April 1, 2025, the Hon’ble Supreme Court held (“Supreme Court”)that the Hon’ble National Company Law Appellate Tribunal (“NCLAT”) transgressed its jurisdiction by interfering with the resolution plan clause pertaining to the treatment of recoveries from fraudulent and wrongful trading applications filed under Section 66 of the Insolvency and Bankruptcy Code, 2016 (“Code”) .Continue Reading Treatment of Recoveries from Avoidance Transactions under the Resolution Plan

To modify or not - Supreme Court resolves quandary faced by 34 courts

The Hon’ble Supreme Court of India, on 30 April 2025, in a landmark judgment in Gayatri Balasamy v. M/s ISG Novasoft Technologies Limited,[1] addressed questions surrounding the power of courts to modify arbitral awards under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996 (“Act”).Continue Reading To modify or not – Supreme Court resolves quandary faced by 34 courts

Arbitration jurisprudence in India continues to vacillate when it comes to the interplay between exclusive jurisdiction clause and arbitration clause, particularly in the realm of domestic arbitration. A key challenge lies in determining which Court will have supervisory jurisdiction over arbitral proceedings — especially when the arbitration clause and jurisdiction clause are not in harmony.Continue Reading Reconciling Conflict in Arbitration Clause and Exclusive Jurisdiction Clause

Does time spent in mediation fall outside the timeline for filing Written Statement?

Introduction:

It is settled law under the mandate of the Code of Civil Procedure, 1908, that maximum 120 days will be provided for filing of a written statement in a commercial suit. On expiry of 120 days from the date of service of summons, the defendant shall forfeit the right to file the written statement, and the Court shall not allow the written statement to be taken on record[1]. For regular or non-commercial civil suits, the period for filing the written statement is 90 days from the date of service of summons[2], however, it can be extended at the discretion of the Court. Continue Reading Does time spent in mediation fall outside the timeline for filing Written Statement?

Recognition of Indian CIRP in Singapore: A Step Forward for Cross-Border Insolvency

INTRODUCTION

    In Re Compuage Infocom Ltd[1] (“Judgment”), the Singapore High Court (“Court”) has recognized the Corporate Insolvency Resolution Process (“CIRP”) of an Indian company under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and granted assistance to the Resolution Professional (“RP”) appointed by the National Company Law Tribunal (“NCLT”). Applying the UNCITRAL Model Law on Cross-Border Insolvency (1997)[2] (‘Model Law’), as adopted by Singapore by way of Section 252 and the Third Schedule of the Insolvency, Restructuring and Dissolution Act, 2018 (“IRDA”), the Judgment deals with several key issues, including whether the NCLT is a ‘foreign court’, whether RPs are ‘foreign representatives’, and whether repatriation of assets located in a foreign jurisdiction can be permitted for the benefit of creditors in other jurisdictions. This is the first such ruling in Singapore and is a welcome development. This piece discusses the key findings in the Judgment and their implications for all stakeholders involved in the CIRP of Indian companies.Continue Reading Recognition of Indian CIRP in Singapore: A Step Forward for Cross-Border Insolvency