We are pleased to share with you the link to our newsletter “Legalaxy” for June, 2023, providing updates on the recent and relevant legal developments in India. Below are the key highlights of the newsletter: TRAI issues direction on digital consent acquisition to curb the pesky calls and messages OTT platforms must display tobacco warnings The […]
We are pleased to share with you a copy of our latest publication ‘Competition News Alert’, briefing on recent gazette notification, S.O. 2228(E), dated 18th May 2023, wherein the Government of India, Ministry of Corporate Affairs has enforced certain important Sections/provisions of the Competition (Amendment) Act, 2023 with effect from 18 May 2023. We trust that […]
The National Company Law Appellate Tribunal, Chennai (“NCLAT”), by a judgment pronounced on March 29, 2023, in the matter of Union Bank of India v. Mr. P. K. Balasubramanian [Company Appeal (AT) (CH) (Ins) No. 293 of 2022] has held that the Insolvency and Bankruptcy Code, 2016 (“IBC”) does not contemplate multiplicity of applications against […]
The National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has, in its judgement dated March 29, 2023 (“Judgement”), in the matter of Shri Baiju Trading and Investment Private Limited v. Mr. Arihant Nenawati and Others [Company Appeal (AT)(Ins.) No. 699 of 2021], held that ‘fraud’ for the purpose of Section 66 (Fraudulent trading or wrongful […]
The Hon’ble Bombay High Court (“High Court”) has, by the judgment pronounced on February 2, 2023, in the matter of Percept Finserve Private Limited v. Edelweiss Financial Services Limited [Commercial Appeal (L) No.284 0f 2019 in Commercial Arbitration Petition No. 220 of 2014] (“Impugned Order”), held that a contract containing put option for securities does […]
The Supreme Court of India (“SC”), in the case of Ajay Kumar Radheyshyam Goenka v. Tourism Finance Corporation of India Limited [Criminal Appeal No. 172 of 2023], while deciding the ongoing proceedings under Negotiable Instruments Act, 1881 (“NI Act”) as well as the ongoing Corporate Insolvency Resolution Proceedings (“CIRP”) held that the scope of the […]
