Hammurabi & Solomon Partners

In Gayatri Balaswamy v. M/S. ISG Novasoft Technologies Limited Bench: Chief Justice Sanjiv Khanna, Justice B.R. Gavai, Justice P.V. Sanjay Kumar, Justice A.G. Masih, Justice K.V. Viswanathan. Date of Judgement: 30/04/2025 INTRODUCTION In a recent ruling in Gayatri Balaswamy vs. M/S. ISG Novasoft Technologies Ltd[1], a Constitution Bench of five judges of the Supreme Court considered a reference made by a three-judge Bench to determine whether a court has the authority to modify an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996. By a 4:1 majority, the Bench, headed by the Chief Justice, held that while such modification is not generally permitted, it can be allowed in certain "limited" scenarios.

On 8 May 2025 the Reserve Bank of India issued the Reserve Bank of India (Digital Lending) Directions, 2025,  a single rule-book that repeals and folds into itself every digital-lending circular since 2022, including the default-loss-guarantee (DLG) FAQ and the outsourcing norms for Lending Service Providers (LSPs).

In a significant and far-reaching pronouncement, the Hon’ble Supreme Court of India has rendered a watershed judgment under the aegis of the Insolvency and Bankruptcy Code, 2016 (“IBC”), which is poised to operate as a binding judicial precedent in the regime of corporate insolvency resolution processes.

“AI will be the best or worst thing ever for humanity.” - Elon Musk Just weeks ago, Geoffrey Hinton, widely regarded as the 'Godfather of Artificial Intelligence,' expressed his agreement with Elon Musk’s concerns and estimated that there is a 10 to 20 percent risk of AI eventually taking control away from humans.

Insolvency and Bankruptcy Code, 2016 (IBC), and the Prevention of Money Laundering Act, 2002 (PMLA), address different issues and were created for distinct purposes.

With the changing world order and the economic uncertainties the corporates have been facing since the pandemic, there have been a significant rise in unconventional and idiosyncratic corporate restructuring scenarios all over the world for various reasons.

Introduction In the 1990s, India’s banking sector witnessed a notable rise in Non-Performing Assets (NPAs) due to factors like economic slowdown, liberalization, and new lending practices.

Supreme Court In a recent Judicial pronouncement the Supreme Court came up with the decision supporting the implementation of an existing framework for early detection of financial stress of enterprises,

DARK PATTERNS India has one of the world's largest internet bases which makes it a crucial market for global online platforms.

DARK PATTERNS India has one of the world's largest internet bases which makes it a crucial market for global online platforms.

The conundrum arising from claiming the status as ‘financial creditor’ of a corporate debtor reached Supreme Court,

The Department of Payment and Settlement Systems, the Reserve Bank of India, introduced India’s Payment Vision 2025 in June 2022 with an aim to deliver secure, convenient,

MSME Sector: the torch bearer of the Indian Economy

“… Pre-litigation mediation is the need of the hour to avoid delaying justice and for early disposal of pending cases, which are mounting. I think the time is ripe to devise a comprehensive legislation, which contains compulsory pre- litigation mediation…” Mr. S A. Bobde, Former Chief Justice of India

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Authored by Hammurabi & Solomon Partners

Hammurabi & Solomon Partners takes-in Ex- Big 4 - expands its IDT & GST practice Hammurabi & Solomon Partners has beefed up its services capabilities with the hiring of ex-Big 4 and an indirect tax lead expert Pravesh Khandelwal as a Partner in Gurugram Office. Pravesh has a widespread experience of over a decade for handling and providing strategic solutions on the complex issues pertaining to indirect tax laws/GST, compliances, prevention & litigation management strategies across an array of sectors and assisting them representing before various tax authorities, tribunals & courts.