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Between the Lines | NCLAT: ‘Success Fees’ which is more in the nature of contingency and speculative is not part of the provisions of the IBC and the Regulations and the same is not chargeable

The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) has in its judgment dated September 20, 2021 (“Judgement”), in the matter of Mr. Jayesh N. Sanghrajka v. The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Private Limited [Company Appeal (AT) (Insolvency) No.392 of 2021], held that ‘Success Fees’ which […]

Between the Lines | Supreme Court: The bar under Section 9(3) of the Arbitration and Conciliation Act operates only when the application under Section 9(1) had not been entertained

The Hon’ble Supreme Court (“SC”) in the matter of M/s Arcelor Mittal Nippon Steel India Limited v. M/s Essar Bulk Terminal Limited [Special Leave Petition [(Civil) No. 13129 of 2021], decided on September 14, 2021, (“Judgement”) held that a bar under Section 9(3) of the Arbitration and Conciliation Act, 1996 (“Act”) only operates when the […]

Between the Lines | Supreme Court: Prayer for reference to arbitration can be declined if the dispute does not correlate to the existing arbitration agreement

The Hon’ble Supreme Court (“SC”) has in its judgment dated September 22, 2021 in the matter of DLF Home Developers Limited v. Rajapura Homes Private Limited & Another [Arbitration Petition No. 17 of 2020] and DLF Home Developers Limited v. Begur OMR Homes Private Limited & Another [Arbitration Petition No. 16 of 2020] (“Judgement”), held […]

Between the Lines | Supreme Court: Once the resolution plan is approved by the Committee of Creditors and submitted to the Adjudicating Authority, a successful resolution applicant cannot withdraw or modify the resolution plan

The Hon’ble Supreme Court (“SC”) has held in its judgment dated September 13, 2021, in the matter of Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited and Another (Civil Appeal No. 3224 of 2020) that a submitted resolution plan is binding and irrevocable as between the Committee of Creditors (“CoC”) and […]

GST Cafe | Advisory on Availment Of Input Tax Credit (ITC) For FY 2020-21

Section 16(4) of the Central Goods and Services Act, 2017 provides that no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after due date of furnishing of return for the month of September 2021. In this regard, the […]

Article | Google versus CCI : Whom to blame for the media leak?

So, has Google got it wrong this time? Recently, the Delhi High Court rapped the internet giant for “threatening” to sue the fair market regulator, the Competition Commission of India (CCI), for the “leak” of the confidential investigation report of its investigative arm, the director general, to the media, leading to headline stories in India. […]