Articles
Specialised Arbitration And The Transformation Of Indian Dispute Resolution
Arbitration in the recent times has emerged as a promising solution for litigants struggling to get prompt assistance from the overwhelmed Indian Courts. The two types of Arbitration namely Ad Hoc Arbitration and Institutional Arbitration are most widely used to address disputes expeditiously between parties. Parties have the autonomy to choose the Arbitrators adjudicating their dispute in the Ad Hoc setting and to choose the Institution of their choice in the other. Arbitrations whether...
Role Of Conciliation In Industrial Disputes
Conciliation is one of the amicable methods of the alternative dispute resolution system (ADR) that helps resolve disputes among the parties without the intervention of the court, hence leading to speedy dispute resolution. This process is quite simple and cost-effective for the disputing parties. Here, parties appoint an independent person, i.e. the Conciliator with mutual consent to solve their dispute. This independent person does not act in a judicial capacity and does not hold the...
When The Accident Tells Its Own Story The Law Must Gear Up
The recent tragedy at Ghatkopar Mumbai is an accident that tells its own story of utter negligence towards human lives. On 13.05.2024 evening, a 120x120-foot hoarding collapsed on a petrol pump at Chheda Nagar in the Ghatkopar area of Mumbai due to gusty winds and unseasonal rains. At least 16 people have been killed in the incident, while 75 others were reportedly injured. According to the BMC, the collapsed hoarding stood on the Government Railway Police's (GRP) land. It is claimed that...
Need For Regulatory Oversight In India's Buy Now Pay Later Market
In the vast tapestry of the world, where dreams and aspirations interweave, there exists a profound imbalance, a poignant disparity that hampers the path to prosperity for millions. For many decades, the banking sector has contributed to the Indian economy by promoting financial growth and development, however, India happens to be one of the seven countries collectively accommodating 50% of the world's 1.4 billion adults who lack the access to formal banking. Precisely, a staggering 190...
Material Adverse Effect: Usage And Considerations
The collapse of the high-profile merger between Zee TV and Sony's Indian media assets have put the spotlight on “material adverse effect” (MAE) or “material adverse cause” (MAC) clause which is ubiquitously found in the transaction documents pertaining to mergers and acquisitions (M&A). If the newspaper reports are to be believed, Sony decided to pull the plug on the proposed merger because of certain events which could have a “material adverse effect” on the business of the merged...
The Art Of Deception: A Legal Examination Of Misleading Advertisements
Advertising plays an important role in the contemporary economy as it influences consumption and fashion market trends. Nevertheless, misuse is likely, where misleading advertisements may be viewed as a violation of consumer rights and unfair trade practices. Misleading adverts are materials that carry untruthful, deceptive, or inaccurate content aimed at confusing the customers who will then make uninformed decisions leading to possible adverse effects. " Section 2(1) of The Consumer...
From “Relevant” To “Global” Turnover: Examining The Basis For Penalty Under The Competition (Amendment) Act, 2023
In keeping with the principles outlined in the Competition Act of India, the Competition (Amendment) Act of 2023 marks a significant turning point in the legislative framework of managing market competition. This legislative transformation includes significant modifications to the assessment of penalties, reflecting a global trend that cuts across traditional jurisdictional lines. In the current context of rapidly advancing digitization and globalisation, the Competition Act of India,...
SEBI's Power Of Disgorgement: Analysing The Veeram Securities Order
In January, 2023, Whole Time Member (“WTM”) of the Securities and Exchange Board of India (“SEBI”) passed an order in the matter of Veeram Securities Limited (“Veeram Order”), wherein the noticees were held guilty for executing contra trades in violation of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”). The Order directed the noticees in this matter to disgorge the amount of profit made by them upon execution of contra trades and further imposed monetary...
Navigating Cartel Detection: Assessing Leniency Plus In Indian Competition Law
The Competition (Amendment) Act 2023[1], enacted after deliberations by the Competition Law Review Committee, aims to bring the competition legal framework in India at par with the expanding global markets. A key amendment under this act is the addition of the 'Leniency Plus' or 'Lesser Penalty Plus' mechanism which enhances the current process of cartel detection. It incentivizes firms and individuals who are part of one cartel to disclose information regarding other cartels during the...
Exploring The Role Of Governors: Navigating The Trend Of State Governors Facing Litigation Over Withholding Assent Over A Bill
The Governor is an unelected Head of the State and cannot use his constitutional powers to thwart the normal course of lawmaking by the State. Governors stand as pivotal figures, entrusted with crucial responsibilities that shape the legislative framework. Their role transcends mere ceremonial duties, encompassing significant powers, notably the authority to grant or deny assent to bills passed by state legislatures. In the recent past, prolonged delay in assenting to Bills has become a source...
Enthusiasm Among Lawyers To Provide Legal Aid Services To The Supreme Court Legal Services Committee (SCLSC)
The legal profession was never intended to be a commercial pursuit or a business endeavor. It was always a service to society. In fact, in the earliest recorded professional work of 'lawyers' in ancient Greece, they were forbidden from accepting any 'fees' for their services. However, over a period of time a regulated profession developed and consumers of legal services felt obliged on their own to render some 'fees' in the nature of acknowledgement for services rendered. That is also the...