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Auction Sale Set Aside by DRT Due to Default by the Bank: Supreme Court Enhances Rate of Interest to be Paid by the Bank Along with Refund Amount to the Successful Auction Purchaser | Tenants/Appellants being Successful Bidders Reverted to the Status of Tenants and Protected from Being Dispossessed by the Bank

Apr 26, 2024

Relevant Facts: In the recent case of Govind Kumar Sharma & Anr. versus Bank of Baroda & Ors., the undisputed facts were that the Appellants were tenants in the mortgaged premises which had been put up for auction by the Respondent Bank under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest […]

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Incorporation of Arbitration Clause by Reference: A General Reference to A Contract Would Not Have the Effect of Incorporating the Arbitration Clause in Another Contract.

Apr 22, 2024

The Supreme Court in its recent decision dated March 19, 2024, in NBCC (India) Private Limited v. Zillion Infraprojects Private Limited[1] reaffirmed the position that a dispute cannot be referred to arbitration on the basis of arbitration clause contained in a referred contract unless a specific reference was made in the main contract to incorporate […]

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Validity of the ‘Group of Companies’ Doctrine in the Jurisprudence of Indian Arbitration

Apr 03, 2024

Introduction: The ‘Group of Companies’ doctrine provides that an arbitration agreement which is entered into by a company within a group of companies may bind non-signatory affiliates, if the circumstances are such that they demonstrate the mutual intention of the parties to bind both signatories and non-signatories. This doctrine has been questioned purportedly on the […]

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Law Commission Proposes Bill Codifying the Law Relating to Trade Secrets

Mar 30, 2024

TRIPS & Intellectual Property: The treaty that internationally governs intellectual property laws is commonly referred to as the ‘TRIPS Agreement’, formally known as the Trade-Related Aspects of Intellectual Property Rights Agreement[1]. TRIPS is comprehensive multi-lateral agreement that lays down the minimum protection requirement of intellectual properties globally. TRIPS identifies seven categories of intellectual property rights […]

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FSSAI Issues Advisory dated February 21, 2024, for Time-Bound Processing of Applications for Licenses Marked for Inspections

Mar 18, 2024

The Food Safety and Standards Authority of India (“FSSAI”) issued directions for Risk Based Inspections vide order number RCD-02001/9/2021-Regulatory-FSSAI dated May 2, 2022[1]. Basis these directions issued by the FSSAI, Pre – License inspections are mandated only for the following categories of Manufacturer/Processor: Milk & Milk products Meat & Meat products Fish & Fish products […]

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Liability of E-commerce Platforms to Comply with Consumer Protection (E-Commerce) Rules, 2020 – Abhi Traders v. Fashnear Technologies Private Limited & Ors.

Mar 16, 2024

The Plaintiff, a clothing retailer under the brand name “IBRANA,” filed an interim application before the Delhi High Court against Defendant No. 1, Fashnear Technologies Private Limited, an operator of the e-commerce platform “meesho.com” and Defendants No. 2 to 10 who are clothing retailers for copyright infringement and passing off. The Plaintiff alleged that the […]

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Stamp Duty Reduction for Mining Deeds in Goa

Mar 15, 2024

The Government of Goa via a notification dated March 02, 2024, has promulgated “The Indian Stamp (Goa Amendment) Ordinance, 2024” amending section 3A, sub-section (1) of the Indian Stamp Act, 1899 which has reduced the stamp duty on mining lease deeds by 60%. Currently, the stamp duty on mining lease deeds is calculated by multiplying […]

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MEITY Advisory for Intermediaries on Use of Artificial Intelligence Models

Mar 15, 2024

Among the first attempts to regulate the artificial intelligence landscape of India, the Ministry of Electronic and Information Technology (MeitY) published an advisory on March 1, 2024, notifying intermediaries/platforms under the Information Technology Act, 2000 and Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Intermediary Rules”) on the use of Artificial Intelligence […]

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Courts Cannot Rewrite or Create a New Contract and Have to Simply Rely on The Terms and Conditions of The Agreement as Agreed Between the Parties

Mar 15, 2024

This was observed by the Hon’ble Supreme Court while deciding an Appeal filed against an order of the National Consumer Dispute Redressal Commission (“NCDRC”) rejecting the Appellant/ Buyer’s Application seeking termination of the Agreement and refund of the consideration. Brief background of the case, As per the terms of the contract, in case the Respondent […]

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