CASE NOTE
The Hon’ble Supreme Court recently delivered the judgement on three (3) petitions[1] that involved questions of withdrawal or modifications after the approval of resolution plan by the Committee of Creditors and filed with NCLT for its approval. The Court held that once the resolution plan is approved by Committee of Creditors and submitted to NCLT; …
REAL MONEY GAMING AND BETTING IN FOREIGN CURRENCIES: POINTS TO BE NOTED
The layman’s perspective During the past three months, several media houses reported that almost one thousand notices have been issued by the Enforcement Directorate (“ED”) to individuals for using international credit and debit cards to bet on football league matches, remitting funds for real money gaming to overseas platforms in foreign currencies and not surrendering …
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PROCUREMENT ROUTES FOR CONTRACT
Construction contracts, in infrastructure projects mainly refer to airports, structures, bridges, roads, dams, ports, and other civil engineering activities. Historical data suggests that in most government awarded contracts, particularly of high value, the bidders tend to underbid so as to achieve the status of “L-1” with an ultimate aim of subsequently claiming additional costs from …
NPPA CAPS TRADE MARGIN FOR SIX ESSENTIAL MEDICAL DEVICES
The National Pharmaceuticals Pricing Authority (NPPA) invoked its extraordinary powers under Paragraph 19 of the Drugs (Prices Control) Order, 2013 (DPCO), to put a cap on the trade margin of the following medical devices — oxygen concentrators, pulse oximeters, glucometers, BP monitors, nebulizers and digital thermometers with an aim to make these medical devices affordable …
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Presence of an arbitration clause does not oust the jurisdiction under Article 226::Supreme Court reiterates
In the matter titled Rapid MetroRail Gurgaon Limited v. Haryana Mass Rapid Transport Corporation Limited and Ors[1] (“Instant Matter”), the Hon’ble Supreme Court bench comprising of Justice D.Y. Chandrachud, Justice Sanjiv Khanna, and Justice M.R. Shah delved into the controversy as to whether public law remedy under Article 226 of Constitution of India can be …
PPAs cannot be terminated during moratorium: NCLAT’s view affirmed by Supreme Court
Introduction The Hon’ble Supreme Court in its order dated 08.03.2021 in matter titled Gujarat Vikas Nigam Limited Vs. Mr. Amit Gupta & Ors. (“Instant Matter”), while upholding order of the National Company Law Appellate Tribunal (“NCLAT”) held that National Company Law Tribunal (“NCLT”) has jurisdiction to adjudicate contractual disputes which arise solely from or which …