The Supreme Court’s (“SC”) recent[1]interpretation of the intent and scope of Section 29A of the Arbitration and Conciliation Act, 1996 (“Act” or “Arbitration Act”) has sent ripples through the Indian arbitration landscape. In this landmark verdict, Justices Sanjiv Khanna and R. Mahadevan have provided much-needed clarity and guidance on the extension of time
The doctrine of severability dictates that the arbitration clause (arbitration agreement) is deemed to be separate or independent from the overarching contract. Therefore, even when a contract’s legality is challenged, the arbitration agreement remains unaffected. However, the novation of a contract, by way of a supplemental/amended agreement, raises an interesting question regarding the validity of
Introduction
The Ministry of Corporate Affairs (MCA) on September 9, 2024, amended Rule 25A of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (effective from September 17, 2024), by introducing sub-rule 5. The amendment is intended to promote seamless mergers and amalgamations between a foreign holding company incorporated outside India and an Indian company, being
The recent ruling by the Supreme Court of India in Pam Developments Private Limited v. The State of West Bengal & Anr.[1] has reignited discussions on awarding pre-reference interest in arbitration proceedings. The case had arisen from a dispute over delays in a road construction project. Marking a significant development in the evolution of
Introduction of Section 29A to the Arbitration and Conciliation Act, 1996 (the “Act”), by way of an amendment in 2015, marked a significant event in the arbitration regime in India. It recognised the sluggishness that had crept into arbitration proceedings and provided for strict timelines for making of an award. The section was further amended
Introduction
Offences such as cheating and criminal breach of trust are often invoked in Indian criminal law system. It is common practice that when a First Information Report (“FIR”) is registered under Section 406 of the Indian Penal Code, 1860 (“IPC”) (Section 316 of the Bhartiya Nyaya Sanhita, 2023 (“BNS”)) for criminal breach of trust,
The Companies Act, 2013 (“Act”) stands as a cornerstone of corporate regulation in India. It lays down a comprehensive compliance framework for body corporates as well as their officers to protect the rights and interests of shareholders and investors. In the first part of this two-part blog series, we seek to address the ambiguities pertaining
The process and outcome of arbitration is largely governed by the following laws: (a) law governing the contract referring to the substantive law that parties choose to govern the main contract and any disputes arising thereunder; (b) law governing the arbitration agreement referring to the law that parties choose to govern arbitration agreement (it governs
The Supreme Court on August 7, 2024, in The Blue Dreamz Advertising Pvt. Ltd. & Anr. v. Kolkata Municipal Corporation & Ors.[1] rendered a significant judgment in assessing the validity of a debarment or a blacklisting order. The court reiterated its position that invoking debarment in ordinary cases of breach of contract where there
A division bench of the Delhi High Court in Cobra Instalaciones Y Servicios, S.A. & Shyam Indus Power Solution Pvt Ltd. v. Haryana Vidyut Prasaran Nigam Ltd. (“HVPNL”)[1] (“Cobra Case”)upheld the quantification of damages by an arbitrator through “honest guesswork” or a “rough and ready method” since it was difficult to quantify the precise
