THE NEW DIGITAL LENDING REGULATIONS-DECODING THE WAY FORWARD
The Reserve Bank of India (“RBI”) which regulates inter alia credit systems and markets in India has been considering the regulatory ecosystem around ‘digital lending [1]’ (“Digital Lending”) for some time now. It had constituted a Working Group on ‘digital lending including lending through online platforms and mobile apps’ led by one of its executive …
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Arbitration and Commercial Courts: A Jurisdictional Conflict – Part II
1. Introduction: The Commercial Courts Act, 2015 (“the CC Act”) has been enacted with the primary goal to expedite the resolution of commercial disputes in a time bound manner and with minimal interference of the higher courts. The Act also grants jurisdiction to the Commercial Court over arbitration matters of a commercial nature. While is …
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FOURTH SCHEDULE TO ARBITRATION ACT: SUPREME COURT TO SETTLE THE CONUNDRUM IN ESSE
Alternative Dispute Resolution mechanism (commonly known as ADR mechanism”) has prevailed in India since its medieval period. While the panchayat system i.e., a form of ADR mechanism, was predominant in the country for being cheap and easily accessible with liberal procedural laws, the hierarchy of court system propounded by the Britishers has changed the landscape …
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JFTC merger review to increase reliance on 4c/4d-style internal documents
On June 22, 2022, the Japanese Fair Trade Commission (the “JFTC”) published a document entitled “The Fair Trade Commission’s Practices Regarding the Submission of Internal Documents in Business Combination Reviews” (the “Guidelines”). The Guidelines signal a shift from the JFTC’s past practice in merger reviews in that, going forward, the JFTC may be more likely …
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Competition Amendment Bill, 2022: Key Changes to the Competition Act, 2002
On August 5, 2022, the Competition (Amendment) Bill, 2022 (the “Bill”), to amend the Competition Act, 2002 (the “Competition Act”), was introduced in the Indian Parliament. The timing of approval of the Bill, and its coming into effect, is uncertain at present.
Social Media allows Online Defamantion to spread faster and farther
Currently, social media such as Twitter, Facebook, and Instagram are powerful online platforms where anyone can ‘tweet’, ‘post’, ‘share’ any kind of material. The platforms are largely self-governing, having initially taken the view that they had no responsibility for the nature of the posts their users chose to post. However, somewhat reluctantly social media platforms …
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EVALUATION OF RECENT BANKING REGULATION AND SUPERVISION AGENCY DECISIONS REGARDING THE LIMITATION OF CASH COMMERCIAL LOANS
Banking Regulation and Supervision Agency (“BRSA”) has the power to make decisions regarding the commercial loan system in accordance with Article 93 of Banking Law No. 5411. In order to strengthen financial stability and efficient operation of the credit system by using resources more efficiently, BRSA decided to limit the cash commercial loans in Turkish …
New Administration Displays Its Strong Will to Promote Digital Health
Further to the 110 national initiatives for the new administration announced on May 3, 2022 (see our newsletter dated May 10, 2022), the government released a more detailed plan to promote digital health on July 27, 2022 (the Plan). The Plan was jointly prepared by the Ministry of Health and Welfare, the Ministry of Economy …
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THE HON’BLE SUPREME COURT’S RULING ON THE PREPONDERANCE OF THE COMMERCIAL WISDOM OF THE COMMITTEE OF CREDITORS IN WITHDRAWAL OF INSOLVENCY PROCEEDINGS.
A. Setting the context The preamble of the Insolvency and Bankruptcy Code, 2016 (the “Code”) makes the objective of the Code clear and unambiguous, by seeking to achieve reorganisation and insolvency resolution of corporate persons, partnership firms and individuals for, maximization of value of assets, promoting entrepreneurship; greater availability of credit and; balancing the interests …
What You Need to Know About Public Procurement for Terminals and Ports in the UAE?
Public procurement in the UAE is regulated under the Cabinet Decision No. 4 of 2019 (UAE Procurement Law). The UAE Procurement Law applies to procurement, supply contracts, works and providing services which are performed by the Government, ministries or federal bodies affiliated with the government.