REVISITING SECURED CREDITORS’ ENFORCEMENT RIGHTS UNDER THE IBC: ANALYSING THE SUPREME COURT’S DECISION IN THE NSEL CASE
I. Introduction The objective behind introducing the Insolvency and Bankruptcy Code, 2016 (“IBC”) was to maximising value and protecting the rights of creditors. It aims to balance the interests of all stakeholders while enabling distressed firms to either restructure or exit efficiently. However, a recurring issue which lurks behind is the legal standing of secured …
CONSTITUTIONALISING ARBITRAL FAIRNESS: CORE II AND THE EXCLUSION OF UNCONSCIONABILITY
I. Introduction The question of whether a party to an arbitration agreement may unilaterally appoint an arbitrator has long been contested in Indian jurisprudence. The issue, though seemingly technical, strikes at the heart of arbitral fairness and the principle of party equality. Indian courts, over the last two decades, have oscillated between allowing limited …
DECARBONISING DISPUTES: RETHINKING INTERNATIONAL ARBITRATION MECHANISMS FOR A FRAGMENTED CARBON CREDIT MARKET
I. Introduction Over the past few years, carbon credits have become a thriving global trade system valued in billions. In particular, the voluntary market (“VCM”), has attracted growing interest from private actors looking to offset emissions, and from project developers in the Global South seeking finance for sustainable initiatives. Simultaneously, an increasing number of disputes …
JUDICIAL EFFICIENCY AND THE FUTURE OF PRIVILEGE: INTRODUCING REFEREES INTO INDIAN LAW
I. Introduction The Indian judiciary operated under a great burden, with over five crore pending cases and a poor judge-to-population ratio of just 21 judges per million. The Law Commission of India had recommended a ratio of 50 judges per million more than thirty years ago, yet this is less than half of that.[1] This …
AIRLINE INSOLVENCY IN INDIA: LEGAL GAPS IN LESSORS’ RIGHTS AND PASSENGER DATA PROTECTION
INTRODUCTION The airline industry is unpredictable by nature, and financial instability often ends with declaration of insolvency. As airlines are handled with very thin margins of profit, even minor disturbances like a rise in fuel prices, changes in governing regulations or failures in supply changes can cause financial distress.[1] Go First Airlines has recently gone …
THE NATURE OF PROCEDURAL TIMELINES IN ARBITRATION: A STUDY OF SECTION 23(4) OF THE INDIAN ARBITRATION AND CONCILIATION ACT, 1996
Introduction With the changing nature of the world, arbitration has emerged as a preferred mode of dispute resolution because it emphasises expediency, party autonomy, and finality. When facing disputes, many businesses choose arbitration instead of courts, because it’s typically faster, this is an essential aspect when it comes to time-sensitive business matters.