The Delhi High Court (“Delhi HC”) has, in its judgement dated June 2, 2023, in the matter of B. L. Kashyap and Sons Limited v. Mist Avenue Private Limited [Commercial Arbitration 190/2019], held that an arbitration clause contained in a contract would perish with its novation if the novated contract does not contain any arbitration […]
We are pleased to share with you the link to our newsletter “Legalaxy” for July 2023, providing updates on the recent and relevant legal developments in India. Below are the key highlights of the newsletter: SEBI LODR (Second Amendment) Regulations, 2023, notified by SEBI SEBI tightens disclosure and ownership norms for FPIs and halves IPO listing […]
We are pleased to share with you a copy of our latest publication of GST Café, a briefing on the recent advisory issued by GSTN, wherein a new functionality has been introduced i.e., to intimate the taxpayer regarding the differences between liabilities declared in GSTR 1 and GSTR 3B returns. We trust that you will […]
“Competitive neutrality” meaning creating a level playing field between public and private sector is a bedrock of modern competition laws across the Globe. For instance, in Europe, there are special provisions for scrutiny of “State Aid” in the form of Article 107 of the Treaty on the Functioning of the European Union (TFEU). Unfortunately, while redesigning […]
The National Company Law Tribunal, Principal Bench, New Delhi (“NCLT”) has, in its order dated May 12, 2023 (“Order”), in the matter of Mrs. Jesleen Kaur Papneja v. Raheja Developers Limited [Company Petition (IB)/392(PB)/2019], held that an agreement in the nature of a joint development agreement, for sharing of profits in an agreed upon ratio, […]
The National Company Law Appellate Tribunal (“NCLAT”), collectively in the matters of: SMBC Aviation Capital Limited v. Interim Resolution Professional of Go Airlines (India) Limited, Abhilash Lal [Company Appeal (AT) (Insolvency) No. 593 of 2023], SFV Aircraft Holdings IRE 9 DAC v. Interim Resolution Professional of Go Airlines (India) Limited, Abhilash Lal [Company Appeal (AT) […]
