Category: News
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AI- Criminal liability and Financial Crimes
While people are recipients of the myriad benefits of Artificial Intelligence (AI) in their everyday life knowingly and unknowingly, they are also exposed to unimaginable criminal activities. As AI continues to advance, there are three sets of people relentlessly working in this sphere- one the researchers and developers working towards creating more sophisticated and ethical…
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Does Copyright Exist for Ai-Generated Content?
As a human-made and trained technology that enables computer systems and machines to simulate human-intelligence or problem-solving capabilities, artificial intelligence (AI) raises challenging legal issues for intellectual property practitioners particularly over the ownership of rights in AI-generated content. The laws in place pertaining to intellectual property rights in India with respect to copyright include the…
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A Company’s Assets cannot be Targeted once it has gone through the Insolvency Process
The Bombay High Court’s 1 March ruling in Shiv Charan & Ors. v. Adjudicating Authority & Ors. is an important addition to the canon that a person acquiring an insolvent company through a resolution process under the Indian Insolvency & Bankruptcy Code, 2016 (IBC) starts with a clean slate. Once a company has been acquired…
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Emerging Trends in Insolvency Litigation
Prevention of Money Laundering Act (PMLA) in IBC proceedings The apparent conflict between the Insolvency and Bankruptcy Code (IBC) and PMLA, often manifesting itself during insolvency processes, calls for a careful balance between protecting the rights of creditors and preventing money laundering. Recent judgments suggest that a harmonious interpretation is possible, recognizing the importance of…
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Fintech: Revolutionizing Lives Amid Regulatory Uncertainty
In the rapidly evolving landscape of modern finance, few sectors have wielded as transformative an influence as financial technology, or fintech, reshaping how individuals and businesses manage their money. From seamless mobile payments to algorithm-driven investment platforms, peer-to-peer lending platforms facilitating loans without the traditional banking intermediaries, fintech innovations have become integral to everyday life…
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The Role of an Executive Director
In a previous article we examined the role of additional directors and the value they can bring to a board. Here we look at the appointment and duties of executive directors, who are responsible for the day-to-day management of a company. Definition of an Executive Director Rule 2(k) of The Companies ( Specification of Definitions…
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Supreme Courts clarifies the meaning of a ‘financial’ debt in insolvency proceedings
The Supreme Court of India’s April judgment in Global Credit Capital Limited v. Sach Marketing Pvt. Ltd. goes some way towards resolving a question that professionals administering an insolvency process in India often have to grapple with: is a creditor an operational or financial creditor? Facts The key question before the court was whether the Respondent,…
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How final is final?
A recent decision by India’s Supreme Court has set out the special conditions in which an arbitral award can be reviewed because of a miscarriage of justiceExplore the implications of India’s Supreme Court overturning a significant arbitral award in Delhi Metro Rail Corporation Ltd. v Delhi Airport Metro Express Pvt. Ltd. Discover the limits of judicial review in arbitration and its impact on contract interpretation.
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Parties must present evidence of governing law to prevent the default application of Indian law
TransAsia Private Limited, a Hong Kong-based company, was seeking the enforcement of an ex parte foreign judgement against Mr. Gaurav Dhawan before the High Court of Delhi.
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Why an additional director can bring value to your business
Under Indian law, someone unconnected with the business but with the skills and experience to be a director, can join the board as an “additional director” and bring a fresh perspective to how the company is managed. Below we examine the steps needed to appoint such a director and how additional directors can help drive…