The High Court of Bombay (“High Court”), by a judgment pronounced on March 20, 2023, in the matter of Sou. Nalini @ Madhavi Madhukar Murkute v. Shri Deepak Manohar Gaikwad and Others [Writ Petition No. 10012 of 2019] (“Petition”), has held that a defendant whose interest is not identical with the plaintiff, cannot be permitted […]
The National Company Law Tribunal, Kolkata (“NCLT”) has, in its order dated March 1, 2023 (“Order”), in the matter of ICICI Bank Limited v. Pratim Bayal and Another [Interlocutory Application (IB) No. 471/KB/2022 in Company Petition (IB) No. 2078/KB/2019], held that just because a creditor enjoys security interest, it cannot be treated higher than other […]
The High Court of Bombay (“High Court”), by a judgment pronounced on March 1, 2023, in the matter of Siemens Factoring Private Limited v. Future Enterprises Private Limited [Commercial Arbitration Application No. 174 of 2022] has held that assignee, having stepped into the shoes of the assignor, can invoke arbitration clause in terms of the […]
Google loses appeal against CCI’s “Android Order” in India – NCLAT upholds the CCI decision on Google’s abuse of dominance but with some caveats on remedies. Google has tasted another setback in India in its fight with the Antitrust regulator, Competition Commission of India (“CCI/Commission”). The appeal filed by Google against the CCI last order […]
Lok Sabha , the Lower House of the Indian Parliament on 29.03.2023 passed the much awaited Competition Amendment Bill, 2002 (“the Bill”). The Bill was introduced in the Lok Sabha on 05.08.2022 and was referred to Standing Committee on Finance for examination and report thereon on 17.8.2022. The Standing Committee on Finance (under the chairmanship of Shri Jayant Sinha) […]
The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) has in its judgement dated February 1, 2023 (“Judgement”), in the matter of Priyal Kantilal Patel v. IREP Credit Capital Private Limited and Another [Company Appeal (AT) (Insolvency) No. 1423 of 2022], held that the nature of financial debt would not change on account […]
