A Decade of the Insolvency and Bankruptcy Code, 2016: An Analysis of India’s Evolving Credit Paradigm
Authors– Tanuj Sud and Akanksha Mathur A decade ago, India’s macroeconomic landscape was weighed down by a fragmented and inefficient insolvency regime. Before the adoption of the modern framework, the country’s debt recovery architecture was marked by chronic delay, overlapping statutes, and pervasive moral hazard. Prior to the enactment of the Insolvency and Bankruptcy Code, […]
Conversion of Company from One Class to Another
Once in a while we hear that a company has changed its class from a public limited company to a private limited company, wondering about the reasons behind such conversion, its modalities and the provisions that come into play in this transition from one class to another. Reasons More often than not, the core reason […]
Embracing Tomorrow: India’s Registration Bill 2025 and the Digital Transformation of Property Rights
On May 27, 2025, the Government of India introduced a groundbreaking draft legislation known as the Registration Bill, 2025 (“Bill”), which is set to replace the antiquated Registration Act of 1908 (“1908 Act”). This progressive initiative aims to usher land and property registration into the digital age, significantly enhancing efficiency, security, and accessibility for individuals […]
Green Hydrogen: Legal and Regulatory Framework in India
Green Hydrogen has emerged as one of the viable alternatives in India’s quest to become energy independent by 2047 and its transition to clean energy. As we currently import approximately 40% of our energy requirements, it is imperative to look for more reliable renewable energy sources that could bolster the efforts of India in becoming […]
Zee vs. Sony – The Unfulfilled Zeal
The merger deal between Zee Entertainment Enterprises Limited (Zee) and Culver Max Entertainment Private Limited (Sony) was all over the news in early 2024. The said deal promised a synergy of content production, distribution, and broadcasting capabilities with a vision to create the largest television broadcaster in India, thereby attracting limelight due to its potential […]
Court Clarifies Penalties for Contract Breach Are Not a Taxable ‘Supply’
The Hon’ble Kerala High Court has ruled that penalties imposed by Indian Oil Corporation Ltd. (IOCL) on its LPG distributors are not subject to GST. This landmark decision, arising from the case of M/s. Aswathy Gas Agencies vs. Indian Oil Corporation Ltd., offers critical clarification on the scope of “supply” under the GST framework, particularly […]
A Debtor’s Shield: Can Non-Compliance with Section 186 of the Companies Act, 2013, Protect a Debtor Under the IBC?
In view of the Judgment dated July 15, 2025, passed by the Hon’ble National Company Law Appellate Tribunal (“NCLAT”) in Pancham Studios Private Limited vs. Konark Aquatics and Exports Private Limited,Company Appeal (AT) (Ins.) No. 406 of 2024 (“Company Appeal”), the present Article discusses whether violation of Section 186 (2) (a) of Companies Act, 2013 […]
Counter Claim Not Maintainable Against Non-parties Other Than the Plaintiff
Recently, an issue which initially seems to be narrow gained significance during arguments before the Hon’ble High Court of Delhi in a commercial suit titled M/s Hanuman Rice Traders v. M/s R. J. Chatha Rice Mill Amritsar & Ors, wherein the Court was called to examine whether a Defendant, while preferring a counter claim under […]
Free Copy of NCLT Order Will be Considered as ‘Certified Copy’ for the Purpose of Filing of Appeal Before NCLAT
Background: The Certified Copy Conundrum Rule 50 of the National Company Law Tribunal, Rules (“NCLT Rules”) mandates that a certified copy of the final order passed by the National Company Law Tribunal (“NCLT”) must be issued to the concerned parties free of cost. However, the National Company Law Appellate Tribunal Rules, 2016 (“NCLAT Rules”), under […]
Stamp Duty Implication on Merger of Wholly-owned Subsidiary With Parent Company
INTRODUCTION Navigating corporate restructurings in India involves intricate legal hurdles, particularly concerning the stamp duty levied on court-approved mergers. The lack of clarity primarily arises from varying state-specific stamp duty regulations and older notifications (some pre-dating independence) that either limit the payable stamp duty or grant exemptions for particular transaction types. In this context, it […]