RBI Proceedings Against Paytm Payment Bank: Regulatory Compliances

The recent action of the Reserve Bank of India (“RBI”) against Paytm's subsidiary, the Paytm Payment Bank has sent ripples across the fintech industry. The payment bank has been barred by RBI from engaging in any further activities that involve accepting deposits or top-ups in any customer account, prepaid instruments, FASTags, wallets, and more, post-February 29, 2024. In addition to other impacts, the direction results in barring the payment bank from accepting any new customer on board ...

A Marriage Of Convenience: Arbitrability Under The SARFAESI Act, 2002

Since the enactment of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”), there has been an inception of various special legislations. Although, when a legislation provides for a special forum, the question arises whether the parties refer the matter to arbitration. The Supreme Court, in Vidya Drolia and others vs Durga Trading Corporation (“Vidya Drolia”), discussed this aspect and held that in cases of a remedy available through a special tribunal, arbitration proceedings...

Competition Law vis-à-vis Aviation Sector

The aviation sector is an oligopolistic in nature. That means, it has few players but extremely strong players. Between 2000-2010, there was an intense competition between 8 to 10 players. However with the massive down fall of Kingfisher airlines and Jet Airways and the sudden monopolistic rise of the concept of low cost career like Indigo there has been major shift in the market space of this sector. Over the decades the sector has gradually transformed from a government owned and controlled...

Live-in Rights Under Scrutiny: Examining Privacy Concerns In Uttarakhand UCC

Love finds its own path, and in India, the path of live-in relationships has been gaining traction from over a decade now. While traditionally marriage has been the societal norm, growing urbanization, changing perspectives, and landmark court cases are paving the way for alternative forms of cohabitation. Though not statutory recognized, yet live-in relationships are witnessing a gradual shift. The concept of live-in relationships again came into limelight with introduction of Uniform...

Reinitiating Arbitration Proceedings And Section 21 Of The Arbitration Act

Consider this: A Court hearing a petition under Section34 of the Arbitration and Conciliation Act, 1996 (“the Arbitration Act”) sets aside an arbitral award, not on merits, but solely on the ground that the sole arbitrator was unilaterally appointed by one party thereby being contrary to law. The erring party who unilaterally appointed the sole arbitrator has two options. It can file appeal under Section37 of the Arbitration Act or it can reinitiate arbitration proceedings. Supposing the...

Navigating Builder-Buyer Disputes in India: Insights into Forum Choices and Relative Restrictions

In India, the real estate sector is the most powerful economic foundation and second-highest employment generator, after the agriculture sector. It comprises of four sub-sectors - housing, retail, hospitality, and commercial. The India residential real estate market size is estimated at USD 227.26 billion in 2024, and is expected to reach USD 687.27 billion by 2029, growing at a CAGR of 24.77% during the forecast period (2024-2029)[1]. There is a massive demand for affordable housing in...

Age Of Consent And Anticipatory Bail Under The POCSO Act

Cases under the Protection of Children from Sexual Offenses Act (POCSO), 2012 are classic examples of a girl using as a weapon the very law that was made to protect her. The consenting age mentioned under the Act is 18 yrs. Prior to the legislation of POCSO, the consenting age was 16 years. However, the Convention on the Child Rights raised this age to 18 years. This article advocates the challenges faced by the trial and appellate Courts while granting anticipatory bail in POCSO cases....

Limitation Period To Apply For Probate Of Will: A Comprehensive Analysis

In India, the succession of immovable properties belonging to a deceased individual is carried out through either testamentary succession or non-testamentary succession in the event of the person dies intestate. Testamentary succession is through testament or will; and non-testamentary succession is governed by the provisions of the applicable personal laws.Term “will” as defined under section 2(h) of the Indian Succession Act means the legal declaration of the intention of a testator...

A Critical View Of The Provisions On Live-In Relationship In The Uttarakhand UCC Bill

On February 6th, the Uttarakhand government tabled the 'Uniform Civil Code Uttarakhand 2024 Bill' (draft UCC Bill) in the state legislative assembly. Among many provisions which have caught the eye of the public, one striking portion is the Part III of the draft UCC Bill, regulating the 'Live-in Relationship'. Till now, live-in relationship was not explicitly regulated by any law in India. Although recognition of live-in by a State is a welcome step, the draft UCC bill has an implication...

Commercial Entities & The Definition Of A Consumer

The market forces have changed from a seller market i.e., the earlier approach of “Caveat Emptor” which means Let the buyer beware, to a consumer market i.e., “Caveat Venditor” which implies “Let the seller beware.” A consumer is said to be a KING in the free market economy. Customers are the end users of a product or service. Any person who buys a product or service and consumes the product and accepts it is considered a consumer. An individual or group other than the consumer of a...

Pari Delicto - Restitution's Nemesis?

In the jurisprudence of contract law, various doctrines have established precedents which have helped the law to evolve with the efflux of time through robust judicial interpretation. One such intriguing doctrine is the doctrine of pari delicto, flowing from the latin expression meaning in equal fault. It closely bonds itself with another doctrine of ex turpi causa, which holds that actions shouldn't follow from improper causes. The major thrust of both these doctrines circumscribes the...

Quandary Of Dissenting Financial Creditors Having Security Interest: Perhaps Supreme Court's Larger Bench To Guide Dissenting Financial Creditors

The recent judgment by a Two-Judge Bench of the Supreme Court, delivered by Justice Sanjeev Khanna and Justice S.V.N. Bhatti on January 3, 2024 in DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another[i] (hereinafter “DBS Bank Judgment”), has stirred considerable legal interest by taking a divergent view from the earlier India Resurgence ARC Private Limited v. Amit Metaliks Limited & Another[ii] (hereinafter “India Resurgence ARC judgment”). The central issue revolves...