Revitalizing Cooperative Banking: Why Mergers May And May Not Catalyse The Industry Towards Better Profits

When the world observed 2012 as the international year of cooperatives, India witnessed the failure of 13 cooperatives. Back then, RBI's credit insurance arm – DICGC had to step in to repay Rs 160 crores to depositors. Thirteen years later it is not unreasonable to introspect whether maintaining cooperatives is worth our time and effort? In fact, there is more scrutiny on cooperative banks and any failure is a blow to the faith of the average banking depositor.Before we venture into estimating...

India Signs Final Act Of Riyadh Design Law Treaty: A Milestone For Industrial Design Protection

India has officially ratified the Riyadh Design Law Treaty's Final Act. The Riyadh Design Law Treaty aims to complement and simplify the processes involved in registering industrial designs. In other words, this treaty should make the procedure for design protection more efficient and accessible in India for designers in relation to protecting their work domestically as well as globally. Joining the treaty would be an important step toward demonstrating India's commitment to fostering inclusive...

SAT's Achilles' Heel: The Urgent Case For Contempt Powers

Born from a need for expediting resolutions, tribunals have evolved into an indispensable part of the Judiciary since they represent the hope to satisfy public demand for quick and effective justice. Still, a Tribunal needs respect and adherence to its decisions if it is to be an authoritative judicial body. While tribunals such as the National Company Law Tribunal (“NCLT”) and National Company Law Appellate Tribunal (“NCLAT) wield codified contempt powers to enforce their orders, the...

Claim For Loss Of Profit Vis-À-Vis Railway Contracts And Public Works Department Contracts

The prolongation of works contracts on account of the defaults attributable to the governmental departments or employer results into incurring of losses by the contractor. Such overstay on the project work accrues losses to the contractor as it reduces the profit margin of the contractor on account of being unable to deploy the resources and manpower to other opportunities.The claim for lost profits is widely accepted as “Loss of Profit” and is claimed under Indian legal regime by placing...

Half-Full: Post IBC, How Do We Encourage A Healthy Real Estate Participation?

The valuation of Indian real estate sector has witnessed a surge like none other. To wishful buyers, the sector still reeks of repulsive practices. Application of legal conventions such as RERA (Real Estate Regulation Act) and subsequently Insolvency and Bankruptcy code to tackle defaulting realtors have been some assurances from lawmakers.In the words of Ravi Mittal, Chief of IBBI (Insolvency and Bankruptcy Board of India), IBC may have played a key role in revival of real estate in the...

The Price Of A Moment: Nayanthara & Dhanush's Legal Feud

Nayanthara, one of the most popular stars of South Indian cinema, in an open letter posted on her social media handles on November 16, 2024, publicly and explicitly accused Actor-Producer Dhanush of "festering vengeance" against her for getting into a relationship with her now husband, Actor-Director Vignesh Shivan, during the shooting of Naanum Rowdy Dhaan (2015) which was produced by Dhanush. Nayanthara's documentary Nayanthara: Beyond The Fairytale, which started streaming on Netflix...

Establishing “Pre-Existence Disputes” Under The IBC Regime

The Insolvency and Bankruptcy Code (“Code”) was enacted to facilitate timely resolution to insolvency proceedings, maximisation of value of assets of the debtors, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders. However, the Code is being weaponized to act as an alternative to traditional recovery proceedings. Liquid Companies under the threat of insolvency proceedings are forced to settle claims, both legitimate and fictitious. Anticipating...

Pre-Pack Insolvency Resolution: A Solution for MSME Distress? - Examining India's Pre-Pack Schemes And Their Role In Resolving MSME Insolvency

63 million MSMEs employ nearly 115 million individuals, contributing to over 30% of India's GDP. MSMEs in India are also renowned for producing over 6,000 products, a good part of which earns precious forex. When the pandemic struck, there was a need to safeguard these MSMEs from adverse financial conditions. Enter pre-pack insolvency resolution process (PPIRP). The legal-process balanced the interests of stakeholders by ensuring that the company continued its operations and the overall business...

Tactile Marks: Can We Protect The Sense Of Touch?

Tactile trade marks, also known as texture marks, are a category of non-conventional trade marks that utilise the sense of touch to distinguish products or services. Touch is considered to be one of the most vital senses, which helps us identify what is tangible and creates a connection with products and companies. Businesses are continually searching for new trade mark features to attract consumers and the texture of a product is surely well-suited for this purpose. These marks involve unique...

Cyber-Bullying: How Should India Legally Equip Itself?

Growth in technology has changed the social fabric and given rise to new challenges such as cyberbullying, cybercrime, and digital harassment in India and worldwide. The internet was perceived as a safe-avenue for several, however leaving it unchecked without legal frameworks can damage individuals, citizens, enterprises, brands, institutions and even countries.Rising cases of cyberbullying will alarm the legal fraternity. A 16-year old make-up artist died by suicide at the start of this year...

Arbitrability Of Allegations Of Oppression And Mismanagement Under The Companies Act, 2013

Sections 241 to 244 of the Companies Act, 2013 (“Act”) provides statutory remedy to shareholders who believe that the affairs of the company are being conducted in a manner prejudicial to their interests or the interests of the company. Section 241 permits shareholders or the Central Government to file a petition before the National Company Law Tribunal (“NCLT”) if they believe there is oppression or mismanagement. Section 242 grants wide-ranging powers to the NCLT to provide relief, including...

First Sale Doctrine: Addressing Infringement By Tampering of Trademarks

A trade mark is a mark which is used in the context of goods as well as services for the reason of showing a relation in the field of trade between the goods or services and any person possessing the right, as the proprietor, to make use of the mark.[1] In India, the Trade Marks Act, 1999,[2] is the legislation which governs the use of trade marks in the country. It deals with the registration as well as the protection of trademarks for goods as well as services from being used in a dishonest...