Income Tax : Due to the lack of statutory law and legislative framework governing transfer pricing, the taxability of AMP expenses has become a...
Corporate Law : The world came to the standstill with series of lockdown for a simple cause to save the mankind from Covid-19. Everything was cu...
Corporate Law : Grant of a patent implies a statutorily granted monopoly on the use of invention. Setting aside the concern that this invention sh...
Corporate Law : INTRODUCTION A trademark, one of the most important Intellectual property incorporates any word, name, image, or any mix, used ,...
Corporate Law : The statement released by Ministry of Finance on 8th June, 2020 has proposed to decriminalize a number of economic offences and on...
Goods and Services Tax : TaxGuru and AMLEGALS brings together TAXEBINAR TAXEBINAR | Pandemic Pro Webinar | GST Unveiled | 14th May, 2020 | Thursday | 4.00 ...
Corporate Law : PANDEMIC LEGAL INTELLIGENCE & BUSINESS RISK ASSESSMENT Join us for a Webinar on 16th April, 2020 (Thursday) 4.00 P.M. to 5.30 ...
Goods and Services Tax : GST Strategies For Intelligent Companies & Professionals. An Advance & Exhaustive GST Corporate Seminar on 24th November 2016 (Thu...
Goods and Services Tax : The focus will be on analysis, simplification & interaction on draft GST. The approach will be simplicity with examples for best u...
Goods and Services Tax : Goods & Service Tax in India will result eradication of various exemptions .This is also clear from the statement of Shri Najib S...
Goods and Services Tax : SE Forge Limited Vs Union of India (Gujarat High Court) The Gujarat High Court in M/S SE Forge Limited Vs. Union of India [Special...
Custom Duty : HC held that reasons should be stated in seizure memo, order of provisional release and order of extension of time period under C...
Income Tax : The real crux of the case is understanding of Section 43B of the Act and object of legislation behind inserting clause (f) to Sect...
Corporate Law : Whether the NCLT was correct in passing an order of initiation of the CIRP against a MSME without considering the fact that the mi...
Corporate Law : A petition under Section 34 of the Act is only for setting aside an Arbitral Award on the limited grounds provided under Sectio...
Service Tax : It is pertinent to note that very recently , the Honourable High Court of Delhi in the case of Travelite (India) vs. UOI & Ors, ...
Indus Biotech Private Limited Vs Kotak India Venture Fund-I (National Company Law Tribunal) FACTUAL BACKGROUND In the present case, the Indus Biotech Pvt. Ltd. (Corporate Debtor) has filed a Interlocutory application under Section 8 of the Arbitration and Conciliation Act, 1996 (Arbitration Act, 1996) where in the underlying Insolvency petition was filed under Section 7 […]
Going green is not an option but necessary for continuous survival of human existence. Building a way forward to a green future is a 21st century imperative. The impact of climate change and need to act to preserve the environment is felt across the globe. Companies, Bureaucrats and Governments have unitedly begin to take action […]
INTRODUCTION Before any rules were notified for medical devices, they were being governed solely by the dated and redundant Drugs and Cosmetics Act, 1940 with no specific provisions or aspects pertaining to the regulation of medical devices in India. A need was felt to bring medical devcies under a specific rules with an important motive […]
PRELUDE The Consumer Protection Act, 2019 (the Act) was introduced in the Lok Sabha by Mr. Ram Vilas Paswan, the Minister of Consumer Affairs, Food and Public Distribution, on July 8, 2019. The Consumer Protection Bill, 2019 was passed by the Lok Sabha on July 30, 2019 and the Rajya Sabha on August 06, 2019. […]
It is incumbent upon the Courts to see the validity of an arbitration agreement, that it passes the test of the requirement of Indian Stamp Act, 1899, before considering an application under Section 11 of the Arbitration & Conciliation Act, 1996.
Quippo Construction Equipment Limited Vs Janardan Nirman Pvt. Limited (Supreme Court); Civil Appeal No. 2378 of 2020; Dated: 29/04/2020 FACTS The Respondent, a business of infrastructure development activities approached the Claimant who is engaged in a business of providing equipment for infrastructure activities. The Claimant gave certain equipment on rent to the Respondent in lieu […]
The Tribunal held that in the absence of any power of recall or review being available to the Tribunal, the present case at hand does not fall within the confines of Section 420 of the Companies Act, 2013 nor Rule 11 of the NCALT Rules, 2016. As recourse, the Applicant should have approached the Appellate Tribunal under Section 61 of the Code.
Despite the repeated appraisal of arbitral clauses in contracts between parties by both the legislature and judiciary as the key to arbitration becoming the preferred mode for commercial dispute resolution as long as such clauses remain impartial, several Government organizations and Public Sector Undertakings have one-sided clauses for dispute resolution in their agreements. The Bombay High Court also took note of the same.
The Court herein has settled that when the party has been given enough opportunity accorded to them and has failed to take advantage of the same during the arbitral proceedings, it cannot later go on to say that fair hearing was not given to the party.
An arbitral tribunal must decide in accordance with the terms of the contract, but if an arbitrator construes a term of the contract in a reasonable manner, it will not mean that the award can be set aside on this ground. Construction of the terms of a contract is primarily for an arbitrator to decide unless the arbitrator construes the contract in such a way that it could be said to be something that no fair minded or reasonable person could do.
