Law Firm Articles
To Dissent Or Not To Dissent With The Resolution Plan- Predicament Of The Financial Creditors
The legislative intent of the bankruptcy framework of India, which is codified in the Insolvency and Bankruptcy Code, 2016 ("Code"), is resolution and revival of the financially distressed entities, which have defaulted in their payment obligations, so as to benefit not only such entities but also their stakeholders (including employees and workmen) in equal measure. In order to achieve this objective, the Code has envisaged constitution of Committee of Creditors ("CoC") ...
Work At The Time Of Corona: A Legal Take
Work from home (WFH) or Remote Working, telecommuting, telework in earlier times was only an option for the employees to bring in inclusivity. But in the present time of epidemic, this has become the norm and a standard work practice. A notable observation of the 'Future of Work Conference' 2016 was that significant flexibility of the modern workplace increases "efficiency and cost-savings" and provides the "choice" to work from home[1]. Harvard Business Review reported an increase of...
COVID-19; Legal Impact On Commercial Contracts
The outbreak of COVID-19 sometime in November,2019 in the Wuhan province of China and its expansion across global jurisdictions have stimulated a different kind of response from the governments across the globe. However, there exist certain similarities between them, a significant one being, a legally enforced Lockdown. The unforeseeability of the Pandemic that is COVID-19 is undisputed, and among all jurisdictions including India, in order to break the chain from further expansion, the...
Exclusion Clause In The Insurance Policy And Rule Of Contra Proferentem
The terms of the insurance contract required to be construed strictly without altering the nature of the contract as it may affect the interest of the parties adversely. However, insurers are exempted from any liability where the loss is attributable to an excepted cause which is inserted ex abundanti cautela to make it quite clear to the insured that the policy is not intended to cover such losses. The object of the exceptions is to define with greater precision the scope of the policy...
Coal Mining Sector: Road To De-Nationalisation
The coal mining sector in India seems to have finally taken the last step towards its de-nationalisation after more than 40 years. The Mineral Laws (Amendment) Act, 2020 (Amendment) promulgated as an ordinance in January 2020 has recently been passed by the Parliament. The Amendment seeks to allow greater private participation in the coal mining sector. Background India is the world's second-largest producer of coal after China, having cumulative total coal resources of...
COVID-19 Pandemic: What To (Or Not To) Do - A Quick Guide For Decision Makers
Following the outbreak of COVID-19 pandemic, the role of directors and senior management in taking appropriate measures, addressing concerns of various stakeholders and ensuring business continuity has become more important than ever. Directors and senior management should not only be cognizant of their duties and responsibilities during these turbulent times but also be mindful of the immediate and long term repercussions of their decisions on their respective businesses. In the ...
UPSC Civil Service Or Judicial Service? - 5 Points To Consider
A government job is certainly the most sought after option due to the stature and prestige involved in it. It is often regarded as a dream job of many graduates, specifically when it comes to law graduates. Yet they are continually struggling to choose between two choices, that is, the training of the Union Public Service Commission (UPSC) or the Judicial Services Exam. Which one is better, careerwise? Which one has a greater chance of success? Which one has the highest work...
Critical Thinking Course In Indian Legal Education Is A Necessity
The successful law student needs to be able to place the law in context, analyse its effects on different parts of society, apply these rules to different problems, and reflect upon the suitability of both individual laws and the law as an institution. This ability to think critically and undertake broad and deep legal analysis is important to becoming a lawyer. In law school, we often faced questions that ended with – "critically explain/evaluate/comment". The relevant dictionary...
Ramifications Of The Increased Threshold Limit Under The Insolvency And Bankruptcy Code,2016 (IBC)
“...Now because of Insolvency and Bankruptcy Code, the return of nearly Rs. 3 lakh crore into the system has been assured.” -Hon’ble Prime Minister, Shri Narendra Modi at the Republic Summit, 2019 on November 26, 2019
Reliefs And Measures For Companies And LLPs By The Ministry Of Corporate Affairs Pertaining To COVID-19 Situation
The Country is now in the third week of lockdown to fight against the globally spread WHO declared Pandemic- COVID-19, a disease the experience of which is same across the globe for each individual, industry, company. Strangely, it's a situation when the world is united which we all dreamed but unfortunately due to a disease. In order to stop the spread of the disease and at the same time to save the economic turmoil, the Government of India, as well as the judicial system of the...
Prevention Of Money Laundering Act, 2002: An Inherently Flawed Legislation?
Money laundering is a process of projection of tainted money as an untainted one. It is a process which disguises illegal profits without compromising the people who wish to benefit from the proceeds. It is the process by which the Proceeds of Crime are ploughed into the financial system to disguise their illegal origins and make them look like legitimate money. Money laundering can be linked to any crime that generates significant proceeds such as corruption, arms smuggling, smuggling of ...