Law Firm Articles
Promissory Estoppel Has To Yield To Larger Public Interest
In a recent pronouncement[1], the Apex Court upheld amendment notifications issued by the Central Government ("Government" / "UOI") limiting the extent of amount of benefit promised in the original notification. The genesis of the judgement is that doctrine of promissory estoppel cannot be invoked where invocation of the same against the Government is contrary to principal of equity or public interest. FACTS OF THE CASE In order to boost economic growth and employment opportunities...
Amendment Of Section 4 Of The Insolvency Code: Is It Retrospective?
Unprecedented situation requires unprecedented measures. The current pandemic COVID 19 has affected the entire society including business severely. Due to contagious nature of COVID 19 the Government of India was forced to take tough measures like lockdown, restriction of movement of men and goods etc. The lockdown was enforced with all sincerity and the result was obvious i.e. the economic activities came to standstill. To obviate the sufferings of the business certain measures were...
Post-Pandemic (R)evolution- Rise Of India
The Covid-19 shock has had a devastating long-term impact in several aspects. It has not only wiped out several lives but also fractured the back-bone of economies globally. Countries have been forced to close borders, indefinitely cease international trade thereby resulting in economic and social self-isolation. This has strengthened emergency measures and fortification of systems to continue trade and activities digitally (Hernan Saenz et al., 2020). Countries that have managed the...
Mediation A Helping Tool During COVID-19 And Otherwise
The spread of novel coronavirus (COVID-19) has created a pandemic, affecting all aspects of our lives by the dangers and restrictions imposed by it. The world is compelled to function virtually, which has slowed the process of ongoing disputes and increased the existing pendency of disputes in courts. As per the data of the Ministry of Law and Justice (India), there are over three crore pending cases across the Supreme Court, the High Courts and the District Courts in India.[1] In response...
High Court Of Delhi Continues To Leap Forward
Amongst the Indian Courts, the High Court of Delhi has always been in the forefront of technological advancements. During the current pandemic it came out with 'High Court of Delhi Rules for Video Conferencing for Courts 2020' which consolidate, unify, and streamline the procedure relating to Video Conferencing for Courts it. These rules apply qua the Delhi High Court and courts and tribunals over which it has jurisdiction. Under the rules all proceedings conducted by a court via...
International Investment Arbitration From Indian Perspective
The world is suffering due to COVID-19 (coronavirus disease 2019) and enforcing a global economic lockdown has been the only effective measure to restrain the growth of COVID-19. At the same time companies and investors are looking to shift their manufacturing units from the epicentre of the COVID-19 pandemic to other countries with potential. Indeed, India is one of the countries which will likely attract many foreign investors to shift their units to India. In fact, around 300 business...
Public Interest Litigation- An Instrument Of Social Transformation Or A Tool Of Vested Interests And Its Significance During COVID
"The rule of law does not mean that the protection of the law must be available only to a fortunate few or that the law should be allowed to be prostituted by the vested interests for protecting and upholding the status quo under the guise of enforcement of their civil and political rights. The poor too have civil and political rights and the rule of law is meant for them also, though today it exists only on paper and not in reality"Hon'ble Supreme Court of India[i]. The onset of...
The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020 And Remedies Available To Creditors
The speculations over altering the operation of Insolvency and Bankruptcy Code, 2016 ("IBC") have been doing rounds since the outbreak of COVID-19. The Finance Minister, clearing the air over the speculation, on 24.03.2020 announced several relief measures relating to statutory and regulatory compliance across various sectors including increasing the threshold of 'minimum default amount' under the Insolvency and Bankruptcy Code, 2016 to INR 1 Crores from INR 1 Lacs. Putting an end to...
COVID-19: Suspension Of Insolvency Proceedings In India
In the light of the economic upheaval on account of the Covid-19 pandemic and the resultant restrictions on economic activity, the Indian Government had proposed suspension of the right to initiate insolvency resolution proceedings under the Insolvency and Bankruptcy Code, 2016 (the "Insolvency Code") for a period of six (6) months. In pursuance, the Indian Government has now introduced the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 (the "Insolvency Ordinance"), which...