Mediation under the Consumer Protection Act 2019

Chapter V of the Consumer Protection Act 2019 provides for the Mediation. It comprises of eight provisions - Sections 74 to 81. It has come into force from 20th July 2020. Recently, Supreme Court of India has directed all State Governments and Union Territories to take measures to establish Mediation Cells and enable e-filing of … Continue reading Mediation under the Consumer Protection Act 2019

Pre-pack under the IBC: an option for MSME Corporates to resolve its financial distress without losing control

India has made drastic change on the way insolvency is resolved for corporate entity with limited liabilities with the enactment of much coveted Insolvency and Bankruptcy Code, 2016 (the IBC). And recently it has witnessed the 6th amendment to the IBC. This shows that while the IBC is in the making (work in progress), what is heartening … Continue reading Pre-pack under the IBC: an option for MSME Corporates to resolve its financial distress without losing control

Whether SFIO needs to complete the investigation within the time specified by the Central Govt.?

The Apex Court held that the period that the Central Govt. may prescribe to complete investigation u/s.212(3) is directory and no fixed period is provided for completion of investigation by SFIO; transfer of investigation by other agencies to SFIO u/s.212(2) of the Companies Act 2013 is irrevocable; when accused is directed to remand by a … Continue reading Whether SFIO needs to complete the investigation within the time specified by the Central Govt.?

Asset held in trust not subject to the moratorium u/s.14 of the IBC

Asset held in trust not subject to the moratorium u/s.14 of the IBC. Sun Pharmaceutical Industries Ltd. filed application before NCLT, Chandigarh bench seeking its direction to allow it to lift its stock of raw materials of approx. Rs.14 crore in possession of the Parabolic Drugs Ltd (Corporate Debtor). The Corporate Debtor was undergoing the … Continue reading Asset held in trust not subject to the moratorium u/s.14 of the IBC

An arbitration clause that is contained in a contract would not “exist” as a matter of law until the contract is duly stamped

The Hon’ble Supreme Court on 10 April 2019 in Garware Wall Ropes Ltd vs Coastal Marine Constructions & Engineering Ltd. (Civil Appeal No. 6361/2019) ruled that when the Supreme Court or the High Court when considers an application under Section 11(4) to 11(6) under Arbitration and Conciliation Act, 1996 (Act or Arbitration Act) and comes … Continue reading An arbitration clause that is contained in a contract would not “exist” as a matter of law until the contract is duly stamped