Dispute Resolution

FCPA, FCA and the Trump Effect: What Indian companies need to know

The Foreign Corrupt Practices Act (“FCPA”) and the False Claims Act (“FCA”) are two pivotal legislations of the United States (“U.S.”) that significantly influence the operations of multinational corporations, including Indian entities. The most notable recent cases against Indian companies are: (i) the allegations on the Adani Group for orchestrating a bribery scheme thereby violating the FCA; and (ii) investigation of Azure Power Global on the allegations of improper payments and misrepresentation of the company’s anti-bribery practices to gain U.S. financing in violation of the FCPA.Continue Reading FCPA, FCA and the Trump Effect: What Indian companies need to know

Navigating Legal Crossroads: Interplay between IBC and NI Act

INTRODUCTION

The intersection between the Insolvency and Bankruptcy Code, 2016 (“IBC”), and the Negotiable Instruments Act, 1881 (“NI Act”), has caused significant judicial deliberation, particularly concerning creditor rights, financial discipline, and the resolution of financial distress. Section 138 of the NI Act holds the drawer of the cheque liable in case of dishonour of cheque due to insufficient funds. The provision imposes penal consequences on the drawer, serving as a deterrent against indiscriminate issuances of cheques and safeguarding creditors’ interests.[1]Continue Reading Navigating Legal Crossroads: Interplay between IBC and NI Act

Real Estate Insolvency: Waivers contemplated under approved resolution plan override transfer / change in shareholding charges demanded by Industrial Development Authorities

In a recent judgment[1], the Hon’ble Supreme Court has upheld the approval of a resolution plan which provided that there should be an exemption from payment of (i) any type of fees/ penalties for renewal of sub-lease; and (ii) transfer charges due to change in directorship/ shareholding in favour of the resolution applicant…

Comprehending the World Bank’s Sanctions Regime: Guidance for Indian Companies, Banks and Financial Institutions

As one of the foremost international financial institutions, the World Bank (“Bank”) aims to strengthen economic progress in middle- and lower-income nations by providing financial aid for various development projects.[1] However, in 2018, the Bank sanctioned an Indian enterprise which was engaged in executing a Bank-funded project[2], highlighting the accountability of these funds. Recipients of these funds are held accountable by the Bank for using the proceeds responsibly, which is where the Bank’s sanctions regime becomes relevant.Continue Reading Comprehending the World Bank’s Sanctions Regime: Guidance for Indian Companies, Banks and Financial Institutions

Can housing societies withhold permission to install electric vehicle chargers?

Maharashtra was among the inaugural states in the country to come up with an Electric Vehicle (“EV”) policy in February 2018, to promote sustainable and clean mobility solutions and to make it a top state in EVadoption. The EV Policy was updated on July 27, 2021, to push EV sales and encourage manufacturing within the State.Continue Reading Can housing societies withhold permission to install electric vehicle chargers?

“Related Party” Creditor Under IBC: Making A Case For Purposive Interpretation

The Insolvency and Bankruptcy Code, 2016 (“Code”), has marked a significant shift in India’s corporate insolvency landscape, transitioning from a debtor-centric approach to a creditor-centric approach. With the committee of creditors (“CoC”) now driving the resolution process, it has become imperative for “related parties”, likely to sabotage the resolution process of a corporate debtor, to be excluded from the same. For this purpose, the Code stipulates that “related parties” should not (i) regain control of the company either by means of submitting a resolution plan (Section 29A); or (ii) be allowed to influence the resolution process by participating and voting in CoC meetings (first proviso to Section 21(2)).Continue Reading “Related Party” Creditor Under IBC: Making A Case For Purposive Interpretation

Choosing the Correct Door: NCLAT Clarifies Jurisdiction for Insolvency of Personal Guarantors

The National Company Law Appellate Tribunal, New Delhi (“NCLAT”), has clarified and resolved the ambiguity surrounding the question of jurisdiction of the National Company Law Tribunal (“NCLT”) to entertain insolvency applications against personal guarantors where no corporate insolvency resolution process (“CIRP”) is pending against the corporate debtor. The issue was addressed through a recent judgment dated January 23, 2025, in Anita Goyal vs. Vistra ITCL (India) Ltd. & Anr.[1] (“Judgement”).Continue Reading Choosing the Correct Door: NCLAT Clarifies Jurisdiction for Insolvency of Personal Guarantors

Understanding Trade Sanctions: Implications for Indian Investors and Businesses

In today’s interconnected global economy, trade sanctions have emerged as a crucial instrument for countries to exert influence over international relations, safeguard national interests, and address issues such as human rights violations and geopolitical conflicts. For Indian investors, companies and shareholders navigating these complexities, understanding trade sanctions – particularly those imposed by the United States (US), European Union (EU), and United Kingdom (UK) – is essential.Continue Reading Understanding Trade Sanctions: Implications for Indian Investors and Businesses

WhatsApp Blocked: SC Directs Service of Section 41A CrPC Notice by Permissible Modes Only

Introduction

Electronic devices, mass media/ social media applications are now universally used for communications, collaboration and everyday work.

The judiciary, too, has embraced such technological advances. E-filings and virtual hearings have become a regular part of legal practice in the country, and are not exceptions any longer.Continue Reading WhatsApp Blocked: SC Directs Service of Section 41A CrPC Notice by Permissible Modes Only

After Sunset: Courts on post Rohan Builders

The Supreme Court has resolved the debate on filing for an extension of time period under Section 29A of the Arbitration and Conciliation Act, 1996 (the “Act”), after the period for rendering an arbitral award has expired. This judgment was rendered in Rohan Builders (India) Private Limited v. Berger Paints India Private Limited, SLP (C) No. 23320 of 2023 (“Rohan Builders”) on September 12, 2024. Given that several months have passed since the judgment, this blog takes a bird’s eye view on disputes under Section 29A of the Act and how the courts have dealt with them post Rohan Builders. Continue Reading After Sunset: Courts on post Rohan Builders