Case Update- Amazon.com NV Investment Holdings LLC v. Future Retail Ltd and Ors,

Decided on 6 August 2021| Supreme Court of India On 6 August 2021, a bench of the Hon’ble Supreme Court presided by Hon’ble Justice R.F Nariman and Hon’ble Justice B.R. Gavai upheld the judgment dated 18 March 2021 of the Single Judge Bench of Delhi High Court and set aside the judgment dated 22 March… Continue reading Case Update- Amazon.com NV Investment Holdings LLC v. Future Retail Ltd and Ors,

Case Update: M/s IMZ Corporate Pvt. Ltd.V. MSD Telematics Pvt. Ltd.

A Memorandum of Understanding (MoU) was entered into between the Parties in January, 2020 to promote business interests and profitability. The MoU provided, inter alia, that the Parties shall not attempt to solicit or contact employees of the other. Disputes arose between the Parties as MSD Telematics Pvt. Ltd. (“MSD”) allegedly breached the non-solicitation clause.… Continue reading Case Update: M/s IMZ Corporate Pvt. Ltd.V. MSD Telematics Pvt. Ltd.

ANALYSIS OF THE PROVISIONS FOR INSOLVENCY PROCESS AGAINST PERSONAL GUARANTORS UNDER THE CODE

The Hon’ble Supreme Court in a landmark judgment dated May 21, 2021 in Lalit Kumar Jain vs. Union of India & Ors. 1 has decided on the constitutionality of the provisions of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) that allow insolvency process to be initiated against personal guarantors, including promoters, of a corporate debtor… Continue reading ANALYSIS OF THE PROVISIONS FOR INSOLVENCY PROCESS AGAINST PERSONAL GUARANTORS UNDER THE CODE

Case Update – Steel Authority of India Limited (SAIL) v. Jaldhi Overseas PTE Ltd. (JOPL)

Factual Background SAIL executed a Charter Party (“CP”) with JOPL (an international entity) for delivery of coking coal. Separately, it had also entered into a Contract of Affreightment (COA) with JOPL for a period of 12 months, to deliver limestone. SAIL claimed that because JOPL failed to provide a vessel under the COA (a claim… Continue reading Case Update – Steel Authority of India Limited (SAIL) v. Jaldhi Overseas PTE Ltd. (JOPL)

Pre Package Insolvency Resolution Process

PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS The Central government on 04th April 2021, notified the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The said ordinance was introduced to amend the Insolvency and Bankruptcy Code, 2016 (“Code”) by inserting chapter III-A (Section 54A to 54P) which will deal with the procedure for pre-packaged insolvency resolution. Pre-Package Insolvency is… Continue reading Pre Package Insolvency Resolution Process

Comparative Analysis of the Conflict Between Insolvency and Bankruptcy Laws & Money Laundering Laws for Attachment of Properties

COMPARATIVE ANALYSIS OF THE CONFLICT BETWEEN INSOLVENCY AND BANKRUPTCY LAWS & MONEY-LAUNDERING LAWS FOR ATTACHMENT OF PROPERTIES The Hon’ble National Company Law Appellate Tribunal (‘NCLAT’) has passed a landmark judgment dated April 9, 2021 in the case of ‘Directorate of Enforcement v. Manoj Kumar Agarwal & ors.’i holding that the provisions of the Insolvency and… Continue reading Comparative Analysis of the Conflict Between Insolvency and Bankruptcy Laws & Money Laundering Laws for Attachment of Properties

Interdigital Technology Corporation v. Xiaomi Corporation

Interdigital Technology Corporation v. Xiaomi Corporation: Can a Foreign Court Injunct a Party from Pursuing its Cause before Indian Courts? The Delhi High Court, in its recent ruling has ruled India’s first case on anti-enforcement order for an anti-injunction order passed by a foreign court. Xiomi Corporation (“Xiomi”) had filed a suit for Standard Essential… Continue reading Interdigital Technology Corporation v. Xiaomi Corporation

SIMC and ICSID Cooperation Agreement

Aarna Law ADR Update/I/08 SIMC and ICSID Cooperation Agreement On 26 March, 2021, the Singapore International Mediation Centre (SIMC) and the International Centre for Settlement of Investment Disputes (ICSID) signed an Agreement on General Arrangements.i The Agreement was entered into by George Lim, Chairman, on behalf of SIMC, and Gonzalo Flores, Deputy Secretary-General of ICSID,… Continue reading SIMC and ICSID Cooperation Agreement

PASL v. GE Power – Indian Parties choosing Foreign Seat

Aarna Law ADR Update/I/07 PASL v. GE Power – Setting the position on Indian Parties choosing Foreign Seat The Honourable Supreme Court in the case of PASL Wind Solutions Private Limited v. GE Power Conversion India Private Limited by a judgement dated 20 April 2021 made a ruling on whether an award passed In in… Continue reading PASL v. GE Power – Indian Parties choosing Foreign Seat

Future v. Amazon (Emergency Arbitrator’s Award- Execution)

Future v. Amazon – Setting the position on enforcement of Emergency Arbitration Awards In the Aarna Law ADR Update/I/03, we provided an overview on the validity and enforcement of emergency arbitration awards in India by covering developments in the Future v. Amazon saga that had transpired until 6 March 2021. In a recent development in… Continue reading Future v. Amazon (Emergency Arbitrator’s Award- Execution)