+91-11- 41023400

Valuation report can be rejected by the Court if it is illegal or fraud

The National Company Law Tribunal has recently held that the valuation report can be challenged on the ground of patent illegality, fraud, collusion or partiality. This issue was raised in the case of Dr. Syed Sabahat Azim vs. Sahaj –E- Village Ltd. & Others, wherein the petitioner’s grievance was about the valuation of his holding […]

Central Government to Introduce Indian Arbitration Council Act, 2017

In an attempt to make Indian arbitration stronger and more regularized, the Central Government is proposing to introduce The Indian Arbitration Council Act, 2017 (“Act”). The Act will establish an Indian Arbitration Council (“Council”) which intends to make India a pivot of “independent and autonomous regime for institutionalized arbitration.” The Council will be an institution of […]

Supreme Court suggests amendment in the Insolvency and Bankruptcy Rules, 2016

The Supreme Court while discussing the merits in the case of Uttara Foods and Feeds Private Limited vs Mona Pharmachem, has suggested an amendment permitting for settlement between the parties even after the admission of case under the Insolvency and Bankruptcy Code, 2016 (“Code”). At present, the Code and subsequent Rules (defined hereinafter) only permit […]

Consumer Forum To Entertain Complaint Even If Other Party Files Civil Suit On Same Matter

The National Consumer Disputes Redressal Commission (“NCDRC”) has recently held that the jurisdiction of the consumer forum to entertain a complaint is not ousted on account of a civil suit having been instituted by the opposite party, even if the subject matter of the said suit is the same agreement which is the foundation of […]

Maharashtra brings clarity in RERA

The Real Estate (Regulation and Development) Act, 2016 (“Act”) is a beneficial legislation enacted to balance the interest of all the stakeholders in the real estate sector. Under the Act, state governments have been mandated to frame rules for their respective states to regulate the real estate sector. A number of underlying complications with regard […]

FDI equity inflows in India grows by 17 percent

In the wake of Standard & Poor’s (S&P) recent rating of the Indian economy, the Department of Industrial Policy and Promotion (“DIPP”) noted a 17 percent surge in Foreign Direct Investment (FDI) equity during April-September this fiscal. As per the DIPP’s ‘Make in India’ twitter handle, India’s FDI equity was reported to be USD 25.35 billion in the current […]

Bombay High Court upholds constitutional validity of RERA

The Bombay High Court has upheld the constitutional validity of the recently enacted Real Estate (Regulation & Development) Act, 2016 (“RERA/Act”).  Several builders had challenged the legal validity of the Act and its various provisions in the High Courts of Bombay, Nagpur, Aurangabad, Bangalore, Jabalpur. Subsequently, the Government of India filed a transfer petition in the […]

Limitation Act not to apply under the Insolvency Code?

The issue of whether the Limitation Act, 1963 is applicable to the Insolvency and Bankruptcy Code, 2016 (“the Code”) was recently addressed by the National Company Law Appellate Tribunal (“NCLAT”) for the first time in the matter of Neelkanth Township and Construction Pvt. Ltd. vs. Urban Infrastructure Trustee Ltd wherein the Ld. Tribunal has categorically […]

Relief For Home buyers As Insolvency Board Amends Bankruptcy Resolution Process Norms

In another move to ensure and safeguard the interest of various stakeholders, including home buyers, the Insolvency and Bankruptcy Board has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 mandating that the resolution plan for a company has to explicitly state how it has dealt with the […]

For Mutual Divorce, Supreme Court Changes 6-Month ‘Cooling Off’ Rule

The Supreme Court has relaxed the procedure of granting divorce on the ground of mutual consent by waiving off the cooling off period of six months which was earlier mandatory for couples, to get a decree of divorce. The hon’ble court while hearing the arguments in the matter of Amardeep Singh vs. Harveen Kaur (Civil […]

1 2 3