Reserve Bank Of India Releases Discussion Paper On Expected Loss– Based Approach For Loan Loss Provisioning By Banks
On January 16, 2023, Reserve Bank of India (“RBI”) released a Discussion Paper (“DP”) that comprehensively examines various issues and proposes a framework for adoption of an expected loss-based approach for provisioning by banks in India. RBI defines a loan loss provision as an expense that banks set aside for defaulted loans. Banks set aside […]
The Curious case of ‘Seat/Venue/Place’ in Arbitration – Need for Legal Practitioners to Employ Clear Phraseology
An attempt to catalog and straighten up the labyrinth, which surrounds the intricate subject: ‘Seat/Place/Venue’ of Arbitration. At the outset, it needs to be strictly borne mind that the Arbitration and Conciliation Act, 1996 does employ the words ‘seat’ or ‘venue’ of arbitration and only employs the word ‘place’ of arbitration in the sense of […]
The Epiphany Called Anti-Suit and Anti-Anti-Suit Injunctions
Introduction What is so unique about the Delhi High Court’s order in Interdigital Technology Corporation & Ors. v. Xiaomi Corporation & Ors.[i], (hereinafter ‘Xiaomi case’)which has pulled the Indian legal fraternity’s attention. Yes, it is the first ‘Anti-anti Suit Injunction’ order ever passed by an Indian Court. Ever heard of this legal nomenclature? I did […]
The Supreme Court Carves in Stone the Limitation Period for Appeal Before NCLAT Under Section 61 of IBC
Introduction In this Article the attempt shall be to discern the answer to two important issues in the realm of the Insolvency and Bankruptcy Code, 2016 (IBC) namely: The aforementioned issues have been squarely dealt by the recent Judgment pronounced by a three-Judge Bench of the Supreme Court V. Nagarajan v. SKS Ispat and Power […]
The Unique Position of the Architects Act, 1972
In its judgement dated March 17, 2020, in the matter of Council of Architects v. Mukesh Goyal & Ors.[1], the Supreme Court held that the Architects Act, 1972 (‘Act’) does not prohibit individuals not registered under it from engaging in the practice of architecture or functions allied thereto. This article dissects the history of this […]
Securities & Exchange Board Of India Further Amends The Securities & Exchange Board Of India (Issue And Listing Of Non-Convertible Securities) Regulations, 2021
On February 2, 2023, the Securities & Exchange Board of India (“SEBI”) notified amendment in the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. The key amendments are as follows: And sub-regulation (7) shall be substituted, namely – The issuer shall simultaneously provide a copy of such notice to the stock exchange(s) where the […]
The Energy Conservation (Amendment) Act, 2022
The Energy Conservation (Amendment) Act, 2022 (“Act”) was notified on December 19, 2022 and aims to reduce India’s power consumption via fossil fuels thereby minimizing the nation’s carbon footprint. The key provisions of the Act are: The amendment seeks to consolidate multiple aspects related to energy transition, efficiency and conservation under one legislation to meet […]
What Banks Need to Survive 2021
Uncertainty and unpredictability were the watchwords for 2020. Business and consumer behaviour trends witnessed an everlasting evolution in 2020 and the velocity of change continues to increase. The Covid-19 pandemic and the economic impact has unveiled the deficiencies of many banks and the fallout is likely to continue into 2021, with several leading banks and the banking regulator […]
Whistleblower Protection Act, 2014: A Cracked Foundation?
The Whistle Blowers Protection Act, 2014 (“Act”) was enacted to provide a framework to investigate alleged corruption and misuse of power by public servants and to protect persons who allege any wrongdoings. However, 7 years having passed since the enactment without any amendments having been made to the Act. There has been a rampant cry […]
Securities & Exchange Board of India amends listing obligations and disclosure requirement regulations
On January 17, 2023, Securities & Exchange Board of India(“SEBI”)notified significant changes to the Listing Obligations and Disclosure Requirement(“LODR”)regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key changes are as follows: