Category: Blogs
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New ruling supports third-party funding for disputes
A recent judgment from the Delhi High Court has placed arbitration financing in the spotlight and seems to provide more comfort to third-party funders of disputes in India.
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Does India have enough insurance coverage for a nuclear disaster?
India has barely half the insurance amount it needs in the event of a nuclear disaster, raising concerns among experts about the lack of oversight on the nuclear sector.
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Arbitrability of fraud
Arbitrating in India can involve recalcitrant respondents trying to frustrate the proceedings, and claimants trying to bring claims that would ideally be litigated before courts. Unfortunately, the jurisprudence around whether a claim is arbitrable or not has not followed a consistent pattern yet it can have profound consequences for the parties involved. It therefore becomes…
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Emergency arbitration in India: a problem of enforcement
Emergency arbitration has been in the spotlight in India recently through Indian low-cost airline Go Airline which is trying to enforce an emergency arbitration award against US engine manufacturer Pratt & Whitney. However, it seems that winning the award is not the end of the battle – the key challenge is enforcing it.
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Enabling procedural efficacies in parallel ISDS arbitrations
The difficulties associated with multiple claims brought by different claimants on the same subject-matter has been described as “detrimental to investment practice”.[1] The existence of concurrent proceedings can “hinder amicable settlement” and “undermine predictability more generally”.[2] The UNCITRAL Secretariat’s Note on the ‘Concurrent Proceedings in Investment Arbitration’ defines parallel or concurrent proceedings as “situations where…
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Mr. Shibu Job Cheeran, Suspended Director of Corporate Debtor v. Mr. Ashok Velamur Seshadri, Liquidator of Archana Motors Limited
In Shibu Job Cheeran v. Mr. Ashok Velamur Seshadri, the National Company Law Appellate Tribunal observed that it must be proven that the former directors of the corporate debtor were aware of the company’s insolvency but continued to conduct business with ulterior motives in order to demonstrate the fraudulent purpose under Section 66 of the…
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India undertakes review of fast-track insolvencies
Smaller corporations often find the 270-day time frame required for a typical insolvency resolution process to be too long. The Bankruptcy Law Reform Committee determined that “there is merit in creating explicit provisions” for cases where the insolvency could be finished sooner.
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Latest developments in insolvency and bankruptcy in India
Go First Airlines Go First Airlines files for insolvency: On May 4, 2023, the NCLT Delhi reserves order on a request for an interim moratorium. On May 2, 2023, Nusli Wadia promoter of Go Air approached the Hon’ble National Company Law Tribunal (NCLT) and file petition seeking insolvency. A few years earlier, Jeh Wadia had been ousted because the airline was consistently losing money.…
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Invocation of arbitration under an unstamped or insufficiently stamped agreement
The Supreme Court of India recently decided upon a crucial issue of validity of an unstamped arbitration agreement. The five judge bench held that an instrument which is exigible to stamp duty, may contain an Arbitration Clause and which is not stamped, cannot be said to be a contract, which is enforceable in law within…
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Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma v. Union of India and Ors.
In Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma v. Union of India and Ors., the Supreme Court of India has upheld the Companies Act 2013 provision that overrides payment of workers’ dues during Liquidation process under the Insolvency and Bankruptcy Code, 2016.