India’s arbitration jurisprudence continues to evolve, striking a balance between contractual consent and commercial reality. Two recent decisions illustrate how Indian courts interpret arbitration clauses and extend their scope beyond signatories when justified by commercial conduct. This article examines two key questions: What constitutes a valid arbitration agreement? Can a non-signatory be bound by an […]
As regulatory scrutiny sharpens in 2025, companies must remain alert to changes that impact their reporting and procedural obligations. Two important developments, the amendment to the Companies (Accounts) Rules, 2014, and a new circular issued by NSDL underscore the growing focus on transparency, workplace compliance, and corporate governance. New Board Report Disclosures under the […]
The Ministry of Finance on September 12, 2024 introduced the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“2024 Rules”) to address the compounding of offenses under the Foreign Exchange Management Act, 1999 (“FEMA”). These new rules replace the previous Foreign Exchange (Compounding Proceedings) Rules, 2000 (“2000 Rules”), which provided a framework to voluntarily resolve certain FEMA […]
The Securities and Exchange Board of India (SEBI), in its board meeting on December 18, 2024, strengthened the regulatory framework for Small and Medium Enterprises (SME) Initial Public Offerings (IPOs). This step has been taken to safeguard investors’ interests, addressing concerns over companies misusing IPO proceeds by diverting funds to shell entities and manipulating financials […]
On October 14, 2024, the Revenue and Forests Department of Maharashtra introduced significant reforms to the state’s stamp duty structure by releasing Maharashtra Ordinance No. XII of 2024. These amendments to the Maharashtra Stamp Act, 1958, will impact a wide range of documents leading to increased costs for individuals and businesses alike. The Ordinance has […]
In a noteworthy ruling, the Bombay High Court addressed an important issue concerning tax liabilities arising after a Corporate Insolvency Resolution Process (CIRP) in Uttam Value Steel Ltd. & Anr. Vs ACIT & Ors[1]. This case illuminates the tension between an approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016 (IBC) and the actions […]
The Supreme Court reinforced the sanctity of contractual terms, ruling that, in cases of delayed property possession, the buyer is entitled to seek a refund along with interest at the rate specified in the original contract. The Court further emphasized that judicial bodies cannot alter mutually agreed-upon contracts. In the case of Venkataraman Krishnamurthy and […]
A long-running trademark dispute between the U.S. based Burger King Corporation and a local Pune eatery using the same name has escalated from a local court victory for the eatery to a fresh challenge in the Bombay High Court. The case Burger King Corporation vs. Ms. Anahita Irani and another involved a legal dispute between […]
IRP/RP can ask for continuation of the supply of such goods and services which are critical to protect and preserve the value of the Corporate Debtor and manage the operations of such Corporate Debtor as a going concern. Corporate Debtor’s (“CD”) electricity was disconnected 3 months prior to commencement of the CIRP. The Power Supply […]
In a recent ruling, the Supreme Court clarified directors’ vicarious liability in company offenses, emphasizing stringent requirements for their accountability. In the case of Bharti Airtel Limited (“Airtel”) and Fitbel Telecom Solutions Private Limited (“Company”), the Supreme Court of India provided crucial insights into the vicarious liability of directors. The judgment emphasized the stringent requirements […]