Dispute Resolution and Arbitration Update June 2020
Contributors Faranaaz Kharbhari Counsel Kshitiz Khera Associate Partner Rahul P Jain Associate Counsel Maaz Hashmi Senior Associate Ishwar Ahuja Senior Associate Khusboo Rupani Associate Mahafrin Mehta Associate Jutishna Saikia Associate Recent judgements
Independence of Resolution Professionals
Authored by Abhirup Dasgupta, Partner and Ishaan Duggal, Associate The framework for bankruptcy and insolvency resolution in India is guided by the Insolvency and Bankruptcy Code, 2016 (IBC), which governs the provisions pertaining to the re-organization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.
MHA Order of May 17, 2020 – Impact on wage payment obligation
May 20, 2020 In wake of lockdown 4.0, the Ministry of Home Affairs (MHA) vide its Order dated May 17, 2020 (Order) provided for all orders issued by the National Executive Committee (NEC) under Section 10(2)(l) of the Disaster Management Act, 2005 (DMA) to cease to have effect from May 18, 2020, save as otherwise …
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Force Majeure in government contracts and Public Private Partnerships May 18 2020
Ministry of Finance issues office memorandum for force majeure The Government of India, through the Procurement Policy Division, Department of Expenditure at the Ministry of Finance (MoF), has recently issued an office memorandum on May 13, 2020 (O.M. No. F. 18/4/2020-PDD) pertaining to force majeure (MoF Memorandum). The MoF Memorandum seeks to provide relief to …
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10 key takeaways from INR 20 lakh crore economic relief package | May 14, 2020
In a speech that echoed and amplified PM Modi’s ‘Atmanirbhar Bharat’ (Resilient India) approach, India’s Union Finance Minister (FM) on Wednesday announced a slew of measures to help businesses recover from impact of Covid-19 outbreak. These measures, when included with the earlier steps announced by finance minister and Reserve Bank of India, will be worth …
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Deployment of blockchain technology to minimize investment risks in India’s power sector – Ground Zero
Authored by: Nived Veerapaneni
Clarity in chaos – Judiciary’s stand on NPA Classification
Authored by Ishaan Duggal Mr. Shaktikanta Das, the Governor of the Reserve Bank of India (RBI) in his statement on April 17, 2020, addressed the situation caused due to the ongoing pandemic and stated “Today, humanity faces perhaps the trial of its time as COVID-19 grips the world in its deadly embrace. Everywhere, as also in …
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Coronavirus outbreak: Relaxed IBC timelines may be a face-saver for Indian corporates
Source: Business Today Authored by Partner Dipti Lavya Swain & Associate Ketaki Dandiya Keeping up with the needs of the fast-changing business environment, IBC has been amended for the fourth time since 2016 with multiple amendments under corollary laws in order to ensure a relentless spin of the wheels of the Indian economy.
Why the power sector deserves exemptions to the IBC
Source: BloombergQuint Author: Hemant Sahai It is an established fact that a robust power sector provides one of the fundamental underpinnings for modern socio-economic development. While a series of legislative reforms by the government – beginning with the plan in 1990s to galvanise private sector investment in this sector and resulting in the Electricity Act, …
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HSA – Corporate Spring Cleaning
HSA – Corporate Spring Cleaning part 1