Sarthak Law
Hello! Welcome back to our updates from the world of arbitration. The International Centre for Settlement of Investment Disputes has recently published revisions of its rules and regulations for resolving disputes between foreign investors and their host states. The revised rules have come into effect from July 1, 2022. Besides introducing numerous changes to make […]
Hello! Welcome back to our updates on the Insolvency and Bankruptcy Code, featuring developments in the month of July 2022. The Government has deferred introduction of a bill to amend the Insolvency and Bankruptcy Code (“IBC”) to the winter session of Parliament. The amendments will not only seek to quicken the pace of resolution, but also introduce […]
Hi! Welcome back to our updates on the Insolvency and Bankruptcy Code featuring developments during June 2022. The IBBI has amended the CIRP Regulations to expedite the corporate insolvency resolution process by requiring operational creditors to submit extracts of Form GSTR-1, Form GSTR-3B, e-way invoices along with their application under Section 9 of the Code. The amendment […]
Welcome back to our updates on the Insolvency and Bankruptcy Code, featuring developments in the month of May 2022. The Supreme Court (SC) has issued notice in a plea challenging the constitutional validity of provisions relating to insolvency of individuals recently. The pandemic has negatively affected the recoveries by lenders, according to a report. It was also reported […]
As we close the second quarter of financial year 2021-22, let’s have a look at the developments that took place in the last three months. The Ministry of Corporate Affairs (MCA) vide a notification dated July 22, 2021, has appointed September 1, 2021, as the date to bring into effect the amendment to Section 4 of the Companies Act, 2013. The said Amendment is a part of the Companies (Amendment) Act, 2020 and provides that if a company fails to…
The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 which replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 has been passed by both Houses of Parliament. The bill further amends the Insolvency and Bankruptcy Code, 2016, by inter alia, introducing Prepacked Insolvency Resolution Process (PPIRP) for micro, small and medium enterprises (MSMEs). The proposed amendment enables the government to notify…
The Asian International Arbitration Centre has revised its Arbitration Rules. The revised rules have come into effect from 1st August 2021. The revised rules can be accessed here. The Appeal filed by the Indian Government against the decision of the International Arbitration Tribunal granting an award of Rs. 22,100 crore to Vodafona in the retrospective tax dispute would be heard by the Singapore International Commercial Court (SICC)…
Hello! Welcome back to our updates from the world of arbitration. Cairn energy has reportedly secured a French Court’s order to seize 20 properties of Indian Government to partially recover a $1.7 billion arbitration award. The Finance Ministry has clarified that it has not received any notice, order or communication from any French Court. Our partner – Ms. Mani […]
Cairn energy has reportedly secured a French Court’s order to seize 20 properties of Indian Government to partially recover a $1.7 billion arbitration award. The Finance Ministry has clarified that it has not received any notice, order or communication from any French Court. Our partner – Ms. Mani Gupta – spoke to The New Indian Express regarding this development and the Indian government’s options from here…
In our last post, we had covered the requirement that all the companies which use accounting software need to use such software which enables them to record audit trails and the same needs to be mentioned in the Auditor’s Report as well. This compliance has been deferred until 01 April, 2022 giving time to businesses to make their internal systems ready for such transition…