Articles
Alternative Remedies For Operational Creditors In view Of Increase In Threshold For Filing CIRP
The Union Finance Minister of India has on March 24, 2020 notified in the official gazette that the threshold for triggering insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 ("Code") stands increased with immediate effect from Rs.1,00,000/- to Rs.1,00,00,000/-. The reason for the increase of threshold is to prevent triggering of insolvency proceedings against the Micro, Small and Medium Enterprises ("MSME") which are currently facing the heat of coronavirus ...
Can Digital Versions Of Law Journals Be Regarded As 'E-Books' For Purposes Of GST?
Lawyers are familiar with accessing judgments/statutes/notifications using softwares installed on our computer from a DVD or a pen drive/dongle. Some of these applications require we plug in a dongle for its functioning. These applications are usually provided by publishers of law journals along with the journals for free or at a price, and in a way provides digital access to what is published in the journals (eg:- ExCus). The Authority for Advance Ruling ('The Authority' in...
Decoding Preferential Transactions Under The Insolvency And Bankruptcy Code
Black's Law Dictionary defines "preferential transfer" as "a prebankruptcy transfer made by an insolvent debtor to or for the benefit of a creditor, thereby allowing the creditor to receive more than its appropriate share of the debtor's assets". Insolvency and bankruptcy laws across the globe, including the recently introduced Insolvency & Bankruptcy Code, 2016 ("IBC") in India, deals with preferential transactions. Such transactions are also known as 'voidable...
The Homebuyer Amendment: No Home,No Hall Of Justice
Owning a home is a dream that is common to many Indians. It is the ultimate security. Unfortunately for most, the path to owning a home is treacherous and cumbersome. It's an uphill battle that begins with saving enough for the down payment and then continues into finding a house that matches your dreams; one that is often just a picture in a brochure. After signing many agreements (on the dotted line) with the builder and the lender bank, and making payments (in all sorts of colours), ...
Draft EIA Notification 2020 And Its Potential Impact
The Ministry of Environment, Forest and Climate Change ("MoEF") in exercise of the powers conferred under Environment (Protection) Act, 1986 published the Draft Environment Impact Assessment Notification, 2020 vide S.O. 1199(E) dated March 23, 2020 in the Official Gazette on April 11, 2020 ("Draft EIA"). The Draft EIA, once notified, will supersede the present Environmental Impact Assessment Notification, 2006 ("EIA Notification, 2006"). The Draft EIA seems to be yet another effort...
Employer's Liability During Lockdown – Need To Clear The Air!
The prevailing lockdown in India has definitely improved the air quality index, however, the air around an employer's liability during the lockdown is getting murkier by the day. Recently, vide Order dated May 17, 2020 ("Order"), the Ministry Home Affairs (through Union Home Secretary), laid down fresh guidelines for Lockdown 4.0 which comes into effect from May 18, 2020. Interestingly, the Order specifically mentions that all orders issued earlier by National Executive Committee ("NEC") ...
The Value Of Human Life And The Great Slippery Slope Argument
Modern Medicine has reached an age, where the Health care professionals intuitively seek to prolong life so long as it is possible to do so. Alternatively the Doctors may themselves raise the question, as to whether it is in the patient's best interest that he or she should live.[1] Two situations in which life and death decisions become fundamental and unavoidable are when we are born and when we are dying.[2] Looking at the point of view of the patient, Euthanasia itself is categorized...
Covid-19 Lockdown: Can You Use Change Of Law Clause To Seek Exemption?
Introduction When a contract is entered into, both the parties are expected to factor in all legal requirements in arriving at mutually agreeable rights and obligations. However, since laws can alter over the course of execution of the contract and this in turn can swing the contractual equilibrium, change of law clause is incorporated to set right the undue burden created by such change of law on a party. The implications of such a change may be increased costs, altered ...
A Conspectus Of The Global Judicial Response To Covid-19
This article seeks to give a conspectus of how the courts have, globally, reacted to the pandemic, not in terms of the volume of cases handled by them, but by the nature of judgments/orders passed. The challenges faced by the judiciary are not endemic to India, and the manner in which the courts have responded all over the world, makes for an interesting read. UNITED STATES OF AMERICA The courts in the United States have been flooded over the past month with challenges to orders of...
Losing The Art Of Cross-Examination In Civil Law: Issues Compounded By Local Commissions And Video Conferences
Introduction: Lawyers were once known by their ability to cross-examine and deftly deal with witnesses, to prove their case. With time, dwindling patience levels in the legal fraternity and on account of the ambition to start off in the profession at the highest possible appellate courts and specialized tribunals, the quality of cross examination has effectively reached a new rock bottom. A potent tool such as cross-examination, as it once was, has effectively turned into a...
Notification Of Section 230(11) And (12) Of Companies Act 2013: New Way To Squeeze Out Minority Shareholders
On February 03, 2020, Ministry of Corporate Affairs ("MCA") notified Section 230(11) and (12) of Companies Act, 2013 ("Notified Provisions"). The said notification has opened another door for majority shareholders to acquire the shares held by minority shareholders. Section 230 deals with scheme of compromise or arrangement between a company and its creditors or members. Such scheme may include a takeover offer by a member of the company under Section 230(11) while under Section 230(12)...