Dentons Link Legal > New Delhi, India > Firm Profile
Dentons Link Legal Offices
Dentons Link Legal
AIWAN-E-GHALIB COMPLEX
MATA SUNDRI LANE
110 002
India
AIWAN-E-GHALIB COMPLEX
MATA SUNDRI LANE
110 002
India
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Dentons Link Legal > The Legal 500 Rankings
India > Aviation (including aerospace and defence) Tier 1
Dentons Link Legal‘s aviation practice remains a strong contender in the aviation and aerospace sphere, and continues to act for a variety of clients across the aviation industry. The team regularly advises airport developers, service providers, and airlines on a full spectrum of commercial and day-to-day matters. Atul Sharma, Anand Srivastava, and Milind Jha co-head the practice. Sharma regularly advises on major aircraft fleet acquisitions and has great strength in handling contentious aviation matters; Srivastava has extensive expertise in representing airlines in significant financing arrangements and aircraft transactions; and Jha uses his deep knowledge of infrastructure and aviation to advise private airport operators and investors, and airlines on projects and sale leaseback transactions. Other key team members include Abhishek Sharma, who has over 14 years’ experience in handling civil and commercial disputes concerning aviation and Milanka Chaudhury who contributes his expertise in international arbitration proceedings related to aviation and regulatory issues concerning airports. Neha Singh joined the team from RNClegal, and works with the Government of India and the Aviation Working Group for the Cape Town Convention.Practice head(s):
Other key lawyers:
Key clients
Air India Limited
GMR Hyderabad International Airport (GHIAL)
SpiceJet Limited
Delhi International Airport Limited (DIAL)
Bangalore International Airport Limited
GMR Hyderabad International Airport Limited
Big Charter Private Limited (FlyBig)
GMR Goa International Airport Limited (GGIAL)
GMR Vishakhapatnam International Airport Limited (GVIAL)
WAISL Limited
SNV Aviation Private Limited (Akasa Air)
IndianOil Skytanking Pvt. Ltd.
Work highlights
- Advised Air India Limited, the national carrier of India, on its disinvestment transaction; pursuant to the Government of India transferring its stake in Air India Limited, Air India Express Limited and Air India SATS Airport Services Private Limited to Tata Sons through a competitive tendering process.
India > Projects and energy Tier 1
Dentons Link Legal‘s projects, infrastructure and energy practice is renowned for its representation of contractors and domestic and global infrastructure companies in international arbitration and litigation. Atul Sharma handles both contentious and non-contentious matters, with a track record in successfully representing national power corporations before the Supreme Court of India and advising on EPC contracts in the aviation sector. Anand Srivastava leads international arbitration matters and handles the expansion and development of large-scale mixed-use immovable objects. Other areas of focus for Srivastava include EPC contractual matters; he recently advised an international desalination company on liabilities pertaining to the Civil Liability for Nuclear Damage Act, 2010. Milind Jha supports international holding companies on acquisitions of domestic renewable companies. Ravi Varma handles cases involving breaches of construction contracts, while Milanka Chaudhury works on regulatory and contentious matters pertaining to the aviation sector.Practice head(s):
Atul Sharma; Anand Srivastava; Milind Jha; Ravi Varma; Milanka Chaudhury
Testimonials
‘Link Legal is a team of efficient Corporate Legal advisors with litigation backgrounds, which makes them unique as they understand the judicial and regulatory process vey well.’
‘Link Legal is a relationship-oriented firm and they have long-lasting relationships with their clients. I came in contact with Link legal when they were advising our counter party and I was impressed with their ability to reconcile differing views and close the transaction smoothly.’
‘The team leader and members are very dedicated. Always ready to spare time for issues that emerge suddenly. All team leaders are forthright in their advice to the client and never advise any bypass.’
‘Providing right guidance, timely services and not recommending unnecessary matters. Research and in-depth understanding on the matter makes the representation more effective.’
Key clients
Alstom System India Pvt. Ltd. (India)
Hitachi Rail STS India
Uttar Pradesh Cricket Association (UPCA)
WAISL Limited
Zheneng Capital Holding Co.
IDE Technologies (Israel)
Navayuga Engineering Company Limited
Delhi International Airport Limited (DIAL)
Clean Sustainable Energy Pvt. Ltd.
JSW Severfield Structures Pvt. Ltd.
National Industrial Corridor Development & Implementation Trust (NICDIT)
GMR Hyderabad International Airport (GHIAL)
GMR Goa International Airport Limited (GGIAL)
Ayana Renewable Power Private Limited
Solar Power Developer Association
Jakson Solar Power Private Limited
Hindustan Zinc Limited
Adani Green Energy Limited
Rajasthan Solar Association
Rays Power Experts Private Limited
Kasyap Sweetners Limited
IDBI Capital Markets Limited/ NMDC
Maharashtra Tourism Development Corporation
ICICI Securities Limited
Hinduja National Power Corporation Ltd.
Indorama Group
GMR Nagpur International Airport Ltd.
GMR Vishakhapatnam International Airport Ltd.
Indian Oil Skytanking Pvt. Ltd.
India > Banking and finance Tier 2
Dentons Link Legal‘s practice handles domestic and international transactions across the oil and gas, education, and mining sectors for public and private domestic banks and financial institutions. Anand Srivastava and Nidhi Pathania guide the team from New Delhi and Mumbai respectively. Pathania often advises foreign multilateral banks on corporate finance transactions and project financing across the energy, ports, and power transmissions sectors. Samantha Fernandes has 12 years’ experience in advising banks and financial institutions on overseas and domestic currency financings, and corporates on syndicated finance, as well as capital and corporate loans. Vishakha Bhagvat departed the practice in April 2022.Practice head(s):
Anand Srivastava; Nidhi Pathania
Other key lawyers:
Samantha Fernandes; Y Sriniwas Arun
Testimonials
‘The team has rich experience in road project financing’
‘Nidhi Pathani and Samantha both have good knowledge of the industry and market.’
‘Flexibility, timely response and professional approach distinguishes them from their peers.’
Key clients
State Bank of India
L&T Infrastructure Finance Company Limited
India Infradebt Limited
HDFC Bank Limited
Bank of India
Bank of Baroda
Punjab National Bank
Central Bank of India
Union Bank of India
Indian Bank
IndusInd Bank Limited
Axis Bank Limited
NIIF Infrastructure Finance Limited
Aseem Infrastructure Finance Limited
EXIM Bank
Kotak Bank Limited
The Hongkong and Shanghai Banking Corporation Limited
India > Corporate and M&A Tier 2
The ‘reliable and effective’ team at Link Legal is noted for its expertise in complex M&A in the infrastructure and aviation sectors, as well as regularly advising clients in fields such as e-commerce, energy, and TMT. The firm regularly handles major acquisitions and sell-offs arising from restructuring and insolvency processes, as well as cross-border deals and private equity investments, and has a further notable specialism in strategic privatisations by the Indian government. The practice is led by Nusrat Hassan, who specialises in cross-border transactions and structuring mandates for Indian, European, and US clients, alongside dual US-qualified Anand Srivastava, a key contributor to the firm’s international expertise alongside leading on key infrastructure, aviation, and restructuring mandates. Anuj Trivedi is active in the telecoms sector and also takes the lead on China-domiciled work, while Milind Jha is also noted for his infrastructure work, including a strong record in sale-and-lease-back transactions. Namita Das has a diverse cross-sector transactional practice encompassing public M&A and private equity deals. In Mumbai, Ambuj Sonal handles transactions and joint ventures with complex employment law aspects. Yosham Vardhan left the firm in July 2021. Lawyers are in New Dehli unless otherwise noted.Practice head(s):
Nusrat Hassan; Anand Srivastava
Other key lawyers:
Testimonials
‘Reliable and effective.’
‘Responsive and sensible.’
Key clients
Air India Limited
Aurobindo Realty and Infrastructure
SarvaGram Group of Companies and its founders
Inyantra Technologies Private Limited and its Shareholders
Mission1 Investments LLC, a US based fund
Almas Global Opportunity Fund SPC, a Cayman Islands based fund
Samunnati Agro
Samunnati Fin
Group SNS
Beyond Seed
Mediconsult
Dev Overseas Investments
Probus Insurance Broker Private Limited
Slintel Inc.
Classklap
Paramount Polymers Private Limited
Immuno Ancillary Services
Digiexpress Trade Private Limited
Vinzero PTE Limited
RIB International Holding Pte. Ltd.
Twin Technology SE
RIB International
The One Off India Limited
Ashoka Buildcon Limited
Marsh McLennan Global Services India Private Limited
GMR Hyderabad Aerotropolis Limited (GHAL)
MayaData Inc.
March Work Private Limited
India > Dispute resolution: litigation Tier 2
Having focused on dispute resolution since its inception in 1999, Dentons Link Legal has a strong background in contentious matters and while its wider offering has diversified over the years, it has remained a strong choice for clients needing advice on litigation. Managing partner Atul Sharma and senior partner Milanka Chaudhury oversee the department and both have diverse experience in the practice area. Sharma is especially notable for his support to clients in the infrastructure and transport sectors, while Chaudhury is a standout figure for matters regarding airports, especially disputes in the regulatory sphere. Nusrat Hassan is a further name to note, acting for a range of American, European and Indian clients.Practice head(s):
Atul Sharma; Milanka Chaudhury
Other key lawyers:
Nusrat Hassan; Abhishek Sharma; Ravi Varma; Sidhartha Srivastava
Testimonials
‘The team is very responsible and attends to the issues promptly.’
Key clients
Delhi International Airport Limited (DIAL)
India Infrastructure Finance Company Limited
IFCI
Transstroy Tirupati Tiruthani Chennai Tollways Private Limited
China Datang Technologies & Engineering Co. Ltd. (CDTE)
GMR Vishakhapatnam International Airport Limited
SpiceJet Limited
Vestige Marketing Private Limited
Bangalore International Airport Limited
GMR Hyderabad International Airport Limited
Educomp Solutions Ltd.
NATRIP Implementation Society (NATRIP)
JSW Severfield Structures Ltd.
Arka Energy B.V.
India Power Corporation Limited
Reliance Capital Ltd.
Samarth Lifters Pvt. Ltd.
Accenture Solutions Pvt. Ltd.
Omkara Assets Reconstruction Private Limited
India > Life sciences and healthcare Tier 2
Link Legal advises a diverse range of clients, including hospitals and medical institutions, pharma and drugs manufacturing companies, and medical devices developers on the full range of corporate, commercial, and regulatory issues. Led by Nusrat Hassan and Pradnesh Warke, who offers deep specialist in-house knowledge of the pharma and medical devices spaces in particular, the team advises on FDA, CDSCO, and customs regulations, commercial contracts and equipment leasing agreements, PPPs and tenders, as well as broad transactional and corporate issues. The practice is sector-focused and acts for public and private sector clients in India as well as international companies and investors. All lawyers mentioned are in Mumbai.Practice head(s):
Nusrat Hassan; Pradnesh Warke
Key clients
Intuitive Surgical
BioConnexUS
Becton Dickinson
Holistic Pregnancy
Bharat Serum and Vaccines Limited
Veritas medical Solutions
Medtronic India
Natco Pharma Yes
Wanbury
India > Restructuring and insolvency Tier 2
Dentons Link Legal guides clients through resolution processes both in and out of court. Anand Srivastava, Nidhi Pathania and Abhishek Sharma jointly lead the practice, combining their experience in dispute resolution. Pathania has over 14 years’ experience in advising resolution professionals, foreign and multilateral banks, and financial institutions across a multitude of sectors; the team has great strength across the thermal and renewable energy, roads and ports sectors in particular. Namita Das frequently provides advice to transactional advisers and resolution applicants regarding the corporate insolvency resolution processes of large companies in the power, aviation and infrastructure sectors.Practice head(s):
Anand Srivastava; Nidhi Pathania; Abhishek Sharma
Other key lawyers:
Namita Das; Y Sriniwas Arun
Testimonials
‘Great level of partner involvement and time.’
‘Link Legal has a very good blend of senior experienced partners and junior partners and associates, who work like a team.’
Key clients
Gitanjali Gems Limited
Era Infra Engineering Ltd.
ABG Shipyard Limited
BDO India LLP
Ind-Barath Power
ACIL Limited
Nakshatra Brands Limited
BCIL Group Companies
Grant Thornton
Power Finance Corporation Ltd.
ACIL Limited (RBSA)
Jyoti Structures Limited
Nakshatra World Limited
Transparent Energy Systems Limited
Topworth Pipes and Tubes Limited
Duff & Phelps India Private Limited
State Bank of India
IDBI Bank
GT Restructuring Services LLP
Jindal Steel and Power Limited
SBI Capital Markets Limited
John Cockerill India Limited
China Datang Technologies and Engineering Co. Ltd
Datang Technologies & Engineering India Pvt Ltd
Hinduja National Power Corporation Limited
BSR Diagnostics
India > Antitrust and competition Tier 3
The aviation-focused practice at Dentons Link Legal handles investigation matters before the CCI, and advises on vertical agreements and cartelisation issues. Led by Atul Sharma, the team advises large airlines and companies in the health, hygiene and technology sectors. Associate Ashly Cherian often represents clients before the Competition Appellate Tribunal (CAT), supporting Abhishek Sharma in acting for domestic and overseas clients in arbitration proceedings and before the CCI.Practice head(s):
Atul Sharma
Other key lawyers:
Abhishek Sharma; Anand Srivastava; Ashly Cherian
Key clients
SpiceJet Limited
CRCC High-Tech Equipment Corporation Limited
BSN Medical India (now Essity India)
Microsoft
Metro Cash & Carry India
India > TMT Tier 3
As disputes specialists in the telecoms and information technology spaces, Dentons Link Legal are sought after by clients such as Sify Technologies and Indus Towers for litigation and arbitration strategies. Co-managing partner Nusrat Hassan is the go-to for arbitration proceedings often defending or seeking damages for various breaches of contract in the information technology area. Prasad Dhande successfully handles litigation for large Indian corporates on land-related telecom infrastructure disputes. Completing the trinity of partners based in Mumbai, Sidhartha Srivastava is the focal point for clients for litigation proceedings.Practice head(s):
Nusrat Hassan; Prasad Dhande; Sidhartha Srivastava
Key clients
Indus Towers Limited
Tata Communications Payment Solutions Ltd.
ProstarM Info Systems Ltd. (Prostar Micronova Power Systems Pvt. Ltd.)
Sify Technologies Limited
Bharti Airtel Limited
Reliance Communications Limited
ATC Telecom Infrastructure Private Limited
Tower and Infrastructure Providers Association
India > Private equity and investment funds Tier 5
Link Legal‘s practice focuses on advising funds and private equity firms, start-ups, emerging, and early stage companies on viable investment structures. Nusrat Hassan heads the practice alongside Anand Srivastava . Hassan advises multinational clients on investment structuring and regulatory issues. Ketan Mukhija is also a key contact in the team.Practice head(s):
Nusrat Hassan; Anand Srivastava
Other key lawyers:
Ketan Mukhija; Vinu Peter Immanuel; Ambuj Sonal
Testimonials
‘Team has a lot of experience. They respond in real time.’
‘Customer centred and willingness to find resolution to issues real time.’
Key clients
SarvaGram Group
RIB International Holding PTE Limited
Twin Technology SE
Vinzero PTE Limited
Almas Global Opportunity Fund SPC
JSW Foundation
Mission1 Investments LLC
Probus Insurance Broker Private Limited
Digiexpress Trade Private Limited
Creanovation Technologies Private Limited
Emerging Vision, Cayman Islands
Inyantra Technologies Private Limited
March Work Private Limited
India > Labour and employment
Dentons Link Legal's employment practice regularly advises on compliances and structuring of commercial transactions, M&A, divestitures and takeovers related matters, and specialises in conducting human resource audits.
Dentons Link Legal > Firm Profile
The firm: Link Legal India Law Services has been functioning as a full service corporate and commercial law firm for over twenty years, with 35 partners and 170+ lawyers with the principal office of the firm being at New Delhi and others at Mumbai, Hyderabad, Bengaluru and Chennai.
We provide cutting edge advice, by blending our legal proficiency with deep commercial insight. Our practice is aimed at providing client-responsive advice to assist you in achieving your business objectives.
Our strength lies in our team of experienced, well-trained and qualified lawyers, who integrate their skills to provide comprehensive legal advice and strategy on complex commercial issues that meet your needs and expectations. The partners also bring a hands-on expertise and approach to each transaction from a strategic perspective, by understanding client objectives and identifying potential issues in areas of public policy or litigation. Each client enjoys a high level of personal service, and has the advantage of discussing matters directly with their assigned partner.
Our clientele includes some of India’s leading corporate groups, public sector undertakings, public sector and private banks, and multinationals from across the world, particularly from the United States of America, the United Kingdom, France, Germany, the Netherlands, Australia, China, Indonesia, Canada, Hong Kong, Japan, and the United Arab Emirates. We also advise private individuals with high-quality professional advice.
We have advised clients globally under its various practice heads, such as infrastructure projects, private equity, mergers and acquisitions, debt and capital markets, project finance, litigation, arbitration and alternate dispute resolution, and contract management, in diverse sectors such as airports, metro rail and urban transport, roads, ports, real estate, oil, gas, energy, power, aviation, water, waste management, media, broadcasting, advertising, pharmaceutical, information technology, business process outsourcing, consumer goods, mining, software, entertainment, insurance, and banking. We also regularly advise clients in obtaining regulatory approvals from the Central Government or the Reserve Bank of India for establishing legal entities or any other form of business presence in India.
We have also been advising resolution applicants, financial creditors, operational creditors, and insolvency professionals in relation to the matters pertaining to the resolution/ liquidation process under the Insolvency and Bankruptcy Code, 2016.
The firm has recently been recognized as one of the largest law firms in India in Asian Legal Business’ Asia’s Top 50 Largest Law Firms 2020 List. The firm has also been ranked #20 in Top Ranked Law Firms: India by Top Ranked Legal 2020. The firm has been recognized as one of the ‘Best Brands’ at the Economic Times – Best Brands Summit 2019. The firm has been awarded ‘Law Firm of the Year 2018’ and ‘Runner Up – Law Firm of the Year 2019’ by IDEX Legal Awards. The firm has been awarded as ‘Firm of the Year (Asia Pacific)’ by Globalaw. It has also been ranked #14 among top 50 Indian Law Firms by RSG Consulting in 2019.
Main Contacts
| Department | Name | Telephone | |
|---|---|---|---|
| Admiralty and maritime | |||
| Anti-corruption | |||
| Aviation | |||
| Banking and finance | |||
| Capital markets | |||
| Defence | |||
| Dispute resolution | |||
| Employment | |||
| Engineering and construction | |||
| Exchange control and foreign investments | |||
| General corporate and commercial | |||
| Hospitality and leisure | |||
| Intellectual property rights | |||
| M&A, joint ventures and private equity | |||
| Manufacturing | |||
| Policy and regulatory | |||
| Projects, claims and dispute management | |||
| Projects, energy and infrastructure | |||
| Real estate | |||
| Restructuring and insolvency | |||
| Technology, media and telecommunications |
Lawyer Profiles
| Photo | Name | Position | Profile |
|---|---|---|---|
 | Mr Milanka Chaudhury | Mr. Milanka Chaudhury is a Partner at Link Legal India Law Services,… | View Profile |
 | Milind Jha | Partner | View Profile |
 | Mr K.A. Najmi | Mr. K.A. Najmi is presently a Partner in Link Legal ILS, a… | View Profile |
 | Mr Atul Sharma | Atul is the Managing Partner of Link Legal India Law Services and… | View Profile |
 | Mr Anand Srivastava | Anand Srivastava is an Equity partner with over 19 years of experience. He is… | View Profile |
 | Mr Ravi Varma | Ravi is a partner with Link Legal India Law Services and has… | View Profile |
Staff Figures
Number of lawyers : 200 +Languages
English Hindi ChinesePress Releases
Press Release – Partner Addition
11th September 2023 Dentons Link Legal is pleased to announce that Abhijit Mukherjee has joined as an Associate Partner in the Firm’s Corporate (Infra M&A) and Projects team in Mumbai.Dentons Link Legal announces the following promotions.
6th September 2023Aditya Bhardwaj, Aditya Singh, Ambuj Sonal, Pradnesh Warke, Pushkar Bavare and Vinu Peter Immanuel have been promoted as Partners.
Dentons Link Legal acted as the Legal Counsel for IPO of Yatharth Hospital & Trauma Care Services
9th August 2023 Dentons Link Legal acted as the Legal counsel to Intensive Fiscal Services Private Limited,Partner Addition: Shravan Yammanur
7th June 2023 Dentons Link Legal is pleased to announce that Shravan Yammanur has joined as a Partner in the Firm’s Dispute Resolution practice in Delhi.Real Estate Ecosystem under IBC
2nd June 2023 AbstractThe insolvency laws in India are in its empirical stage, however they fail to mitigate a lot of issues including and not limited to low recovery rates, huge haircuts, prolonged delays, digitalisation of insolvency ecosystem, shortage of resources etc. Since India is a developing nation, real estate is one of those sectors which is on its peak and has the maximum number of disputes arising out of it. There are various laws and amendments which are constantly being implemented to resolve these disputes in the most efficient manner. However, the homebuyers remain stuck in long legal battles which keep on draining their hard-earned money and their dream of owning a house for which they had spent their lifetime savings becomes a hard nut to crack.Delhi High Court dismisses contempt petition filed against Dr. Prannoy Roy by Dr. RK Pachauri
2nd June 2023 The Delhi High Court dismissed a contempt petition filed by Dr. RK Pachauri alleging violation of a John Doe injunction order passed by the High Court restraining media houses from publishing any stories pertaining to sexual harassment allegations made against Dr. Pachauri.Dentons Link Legal | Deal Update – ILFS PSRDCL Restructuring
26th May 2023 Dentons Link Legal is advising and assisting the lenders with the restructuring of the outstanding debt on and around INR 2000 Crores of M/s. Pune Sholapur Road Development Company Limited (PSRDCL) under Reserve Bank India’s Prudential Framework and Infrastructure Leasing & Financial Services Limited (IL&FS) Resolution Framework proposed by Government of India.Dentons and Link Legal launch combination in India
26th May 2023 Dentons becomes the first global law firm to combine with a law firm in IndiaPress Release – Partner Addition
26th April 2023 Link Legal is pleased to announce that Rajeev Mishra has joined as a Partner in the Firm’s Dispute Resolution practice in Delhi.Link Legal advised VPS Healthcare Group to sell its 350 bedded Multi-Specialty Hospital in Manesar, Gurugram, Haryana to Fortis Group
26th April 2023 Link Legal is advising and assisting Medeor Hospital Limited and VPS Healthcare Group in its sale of 350 bedded Multi-Speciality Hospital in Manesar, Gurugram, Haryana to Fortis Group for an overall purchase consideration of INR 225 Crore.Partner Addition – Prashanth Sabeshan
8th February 2023 Corporate generalist attorney Prashanth Sabeshan has joined Link Legal as Partner at its Bangalore Office.Press Release – Partner Addition
4th January 2023 Corporate generalist attorney Dr. Rajesh K Sehgal has joined Link Legal as Partner at its New Delhi Office.Link Legal advised Auctus Advisors and its shareholders in its 100% acquisition by YCP Solidiance, a subsidiary of YCP Holdings (Global) Limited
16th December 2022 Link Legal represented and advised Auctus Advisors Private Limited (“Auctus”) and its shareholders in its 100% acquisition by YCP Solidiance International B.V. (“YCP Solidiance”), a subsidiary of YCP Holdings (Global) Limited which is a company listed on Tokyo Stock Exchange.Evolution of Link Legal’s Leadership
22nd November 2022With a view to accelerate its growth and in light of the recent announcement regarding the Firm’s combination with the world’s largest law firm Dentons, Link Legal is pleased to announce the evolution of its Leadership team.
Link Legal advised BeyondSeed in its seed investment in Goofy Tails Private Limited
14th October 2022 Link Legal represented and advised BeyondSeed, a Singapore based fund, in its seed investment in Goofy Tails Private Limited. The Firm also worked alongside Chennai Angels, an angel investment group based in Chennai, for its investment in Goofy Tails in the same seed round. The ticket size of the entire deal is approximately INR 30.3 million.Dentons announces an historic combination with Link Legal in India
13th October 2022 Dentons, the world's largest global law firm, has announced a combination with leading Indian law firm, Link Legal. Dentons would become the first global law firm to combine with a law firm in India giving the combined firm first mover advantage and a competitive edge in international panel competitions. This is not a joint venture, not a best-friends relationship or a liaison license, nor a merger or an acquisition, but a combination like Dentons has done around the world, building one, integrated global firm.Link Legal advised Doncasters Group of Companies in relation to the Indian element of its acquisition of Uni-Pol Group of Companies
21st July 2022 Link Legal represented and advised Doncasters Group of Companies (“Doncasters”) in relation to the Indian element of its acquisition of Uni-Pol Group of Companies (“Uni-Pol”).Link Legal advises Malpani Group on the acquisition and debt resolution of Imagicaaworld Entertainment Limited under RBI’s Prudential Framework
11th July 2022 Link Legal advised the Malpani Group, an acclaimed name in the FMCG & Hospitality industry in the Country, on structuring and acquisition of Imagicaaworld Entertainment Limited (IEL), an entity promoted by Mr. Manmohan Shetty and listed on the Indian stock exchanges.Link Legal advised Indorama Group in its acquisition of a Renewable Energy Company.
20th June 2022 Link Legal advised and assisted Indorama Group in the acquisition of a renewable energy company having a permit to construct a mini hydroelectric power plant in Himachal Pradesh, India.Wingman in its acquisition by Clari
17th June 2022 Link Legal, as Indian counsels advised and assisted in acquisition of the holding company of Bengaluru-based Software-as-a-Service (SaaS) platform, Wingman by US-based revenue operations platform, Clari.SarvaGram Debt Funding by Vivriti Asset Managemen
31st March 2022 Link Legal represented and advised SarvaGram Fincare Private Limited (“SarvaGram”) and its founders, in raising INR 30 crore, via debt fund, through issuance of Series B Debentures in favour of (i) Vivriti India Impact Bond Fund; and (ii) Vivriti Emerging Corporate Bond Fund (funds of Vivriti Asset Management).Link Legal advised JSW Foundation in participating as a member of the Skill India Impact Bond launched by the National Skill Development Corporation (NSDC)
15th March 2022 Link Legal represented and advised JSW Foundation in participating as a member of the Skill India Impact Bond, a first of its kind and India’s largest impact bond, launched by the National Skill Development Corporation (NSDC).Link Legal advised InYantra in its acquisition by Volex
11th March 2022 Link Legal represented and advised InYantra Technologies Private Limited (“InYantra”) and its shareholders, in acquisition of (i) 51% shares of InYantra by Volex Interconnect Indian Private Limited, the Indian subsidiary of Volex PLC (“Volex”); and (ii) 4% shares of InYantra by Boundary Holdings India Private Limited, a subsidiary of Boundary Holdings, a UK based firm (“Boundary”). The ticket size of the deal is approximately USD 8 million consisting of both primary and secondary investments. The deal also involved sale of land and building from one of the shareholders of InYantra to the Indian subsidiary of Volex for a total price of USD 5 million.Link Legal – International Workshop on Laws Governing Aviation in India
8th March 2022International Workshop on Laws Governing Aviation in India – 2022, held on February 22 and 23 is an initiative by Link Legal in collaboration with Campus Law Centre, University of Delhi and is first of a series of events that we plan to do in years to come (Brochure - https://drive.google.com/file/d/1H4Uj2lFGjw0kLchvR_CpMHkZG2IB4AlR/view). We believe, based on the feedback we have been receiving, that the session has effectively contributed to generating necessary interest amongst the law students, law graduate and the law faculties alike. We are quite positive that a continuous effort in this direction can help achieve the objective of skilling by creating an industry academia connect.
Link Legal advised Slintel Inc., in its acquisition by 6Sense, through a 2-step merger process.
8th October 2021 Link Legal advised and assisted Slintel Inc., in its acquisition of equity by 6Sense, through a 2-step merger process. In October 2021, a USA based entity Slintel Inc., along with its wholly-owned India subsidiary Slintel India Private Limited (collectively “Slintel”), was acquired by another USA based entity 6Sense (“6Sense”), by way of a two-step merger process (“Merger”). As part of this Merger, the existing shareholders of Slintel were offered part cash and part shares in another existing offshore group entity of 6Sense, in lieu of their shares in Slintel. The shareholders of Slintel also included certain resident Indian shareholders employed with the Indian subsidiary of Slintel.Link Legal advised Classklap Private Limited in its acquisition by Proficiency Learning Solutions Private Limited (“Eupheus”)
22nd September 2021 Link Legal advised and assisted Classklap Private Limited (“Classklap”) and its promoters in its acquisition by Proficiency Learning Solutions Private Limited (brand name “Eupheus”).Link Legal advises Twin Technology SE in its acquisition of equity stake in Audiencetech India Solutions Private Limited
3rd August 2021 Link Legal advised and assisted Twin Technology SE (‘Twin Tech’) in acquisition of equity stake in Audiencetech India Solutions Private Limited (‘Audience Tech’), by way of a primary transfer of equity shares held by the existing shareholders of Audience Tech and subsequent issuance of additional equity by Audience Tech through preferential allotment. Pursuant to the closure of the transaction, Twin Tech holds a 25% stake in Audience Tech.Link Legal advised RIB Group in acquisition of remaining 40% stake in Dubai headquartered Levtech Consulting Group.
27th July 2021 Link Legal advised and assisted RIB International in acquisition and increase in stake from 60% to 100% of Levtech Consulting Group through acquisition of remaining 40% stake in Dubai headquartered parent entity.Link Legal represents The One Off India Limited based in the UK
17th June 2021 Link Legal represented The One Off India Limited based in UK on its 50: 50 joint venture with Bentel Associates LLP for setting up a joint venture company in India i.e., The One Off Bentel Private Limited.LINK LEGAL ADVISES SARVAGRAM IN SERIES B FUNDING OF INR 77 CR FROM ELEVATION CAPITAL & ELEVAR EQUITY
22nd February 2021 Sarvagram, a company providing financial services and allied interventions to improve the productivity of individuals and small enterprises in rural and semi-urban India using technology, has raised its second round of funding of INR 77 Crores led by Elevation Capital along with pro-rata participation from existing investor Elevar Equity.Legal Developments
Healing The Future: Indian Startups Paving the Way Through Technology And Innovation
23rd August 2023 Medical and Healthcare Technology (“MedTech”) is a sunrise sector in the Indian economy, with startups and MNCs growing at rapid pace with an estimated growth from US$ 11 billion to US$ 50 billion by 2030 at 16.4% CAGR.[1]Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games 2022 – The Tug of War Lingers
4th August 2023 Background and Introduction In 2021, the Government of Tamil Nadu had notified the Tamil Nadu Gaming and Police Laws (Amendment) Act 2021, which prohibited all forms of online games (including the games based on mere skills) within the State. This amendment was challenged in the case of Junglee Games India Private Limited v. State of Tamil Nadu (“Junglee Games Case”) wherein, the Madras High Court held that the blanket prohibition on all forms of online games, including games of mere skill, was ultra vires of the Indian constitution. Pursuant to the judgment of the Madras High Court, the Government of Tamil Nadu constituted a five-member committee under the chairmanship of Justice (Retd.) K. Chandru (“Justice Chandru Committee”) to advise on enacting a fresh legislation on the subject matter. Basis the report of the Justice Chandru Committee, the Government of Tamil Nadu promulgated the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Ordinance, 2022, which received the assent of the Governor of Tamil Nadu in October 2022. Subsequently, the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, 2022 (“Act”) has been recently notified. Key Highlights of the Act- Objects and Reasons: The Act is said to be enacted considering, inter alia, the effects of online gambling and online gaming addiction on youth and families leading to suicide deaths and by extension, affecting public health, disturbing social order, and prejudicing maintenance of public order.
- . Prohibition of ‘online gambling’ and ‘online games of chance’: The Act prohibits ‘online gambling’, and ‘online games of chance’ with money or other stakes, as specified in the Schedule to the Act, which includes (i) Rummy, and (ii) Poker. These prohibitions also extend to any advertisement in relation to online gambling or games of chance. Further, banks, financial institutions and payment gateway providers are prohibited to engage in any transaction or authorization of funds towards payment for online gambling or any online game of chance.
- Establishment of Tamil Nadu Online Gaming Authority and its functions: The Act provides for establishment of a five-membered Tamil Nadu Online Gaming Authority (“TNOGA”), under the chairpersonship of a retired officer not below the rank of Chief Secretary to the Government. The TNOGA is established to perform functions such as regulation of online games, registration of local online games providers and overseeing their functioning, identification of games of chance and recommendation thereto for inclusion in the Schedule to the Act, resolutions of grievances/ complaints against online games providers, etc. Further, the TNOGA has been empowered to make regulations to carry out the provisions of the Act and it has been vested the powers of civil court under the Code of Civil Procedure, 1908, which, inter alia, includes summoning and enforcing attendance, receiving evidence on affidavits, requiring discovery and production of any document, etc.
- Regulations for local online games providers and non-local online games providers: The Act mandates compulsory registration requirements for local online games providers, and provides for revocation of registration certificate on grounds of misrepresentation or fraud, failure to comply with conditions therein, or contravention of provisions of the Act. The Act provides for establishment of an appellate authority consisting of the chairperson and two members of the TNOGA, to hear appeals arising out of the decisions of TNOGA in respect of suspension/ revocation of certificate of registration. In addition to similar restrictions posed on the local online games providers, non-local online games providers are required to exercise due diligence, as substantiated in the Act, and provide geo-blocking in the State, to prohibit playing of any online game contrary to the provisions of the Act.
- Offences and Penalties: The Act provides for the following offences and penalties:
- (i) For indulging in online gambling or online game of chance involving money or other stakes - imprisonment up to 3 (three) months and/ or fine up to INR 5,000 (Indian Rupees Five Thousand only);
- (ii) For making/ causing advertisements in any media - imprisonment up to 1 (one) year and/ or fine up to INR 5,00,000 (Indian Rupees Five Lakh only);
- (iii) For providing online gambling service or any online game of chance involving money or other stakes - imprisonment up to 3 (three) years and / or fine up to INR 10,00,000 (Indian Rupees Ten Lakhs only). However, any non-local games provider is only punishable by the Central Government in exercise of powers under Section 69-A of the Information Technology Act, 2000;
- (iv) The Act further provides punishments for repeat offences, and provisions for compounding, offences by companies.
Authors: Ambuj Sonal, Associate Partner, Dentons Link Legal(photographed)
Subham Biswal, Associate, Dentons Link LegalFootnotes[1] Junglee Games India Private Limited v. State of Tamil Nadu, AIR 2021 Mad 252.[2] State of Andhra Pradesh v. K. Satyanarayana, AIR (1968) SC 825.[3] Dominance Games Private Limited v. State of Gujarat, (2018) 1 GLR 801.[4] Entry 1, List II (State List), Seventh Schedule, Indian Constitution.[5] Entry 33, List II (State List), Seventh Schedule, Indian Constitution.[6] Entry 26, List II (State List), Seventh Schedule, Indian Constitution.[7] See The State of Bombay vs. R.M.D. Chamarbaugwala, AIR 1957 SC 699; All India Gaming Federation v. State of Karnataka, 2022 (2) AKR 422.
SERIES: EVOLVING ROLE OF DIRECTORS – ARTICLE II
9th June 2023 "The Fiduciary Duty Dilemma: Exploring the Legality of AI-Assisted Decision Making by Directors"The term ‘Artificial Intelligence’ (“AI”) was first coined by an American computer scientist John McCarthy in 1956 where he defined it as, “the science and engineering of making intelligent machines, especially intelligent computer.Interaction with HCPs: Is it Awareness or Advertisement Activity?
4th April 2023 In this article, we have attempted to provide some respite to the age-old debate between the legal and marketing heads of the MedTech companies in respect of how to classify the activities /interactions with healthcare professionals (HCPs), whether these are awareness or advertisement activities. For MedTech companies, their consumers are either hospitals or the retail end-users, and this element makes it quintessential for them to approach, partner, and collaborate with the HCPs for any activity in relation to their products, services, and usage.Litigant has to be Vigilant of Rights, Court Proceedings
20th March 2023 The maxim “Vigilantibus non dormientibus jura subveniunt” literally means that “the law aids the vigilant, not those who sleep over their rights”.A Look in the Future: Impact and Adoption of MedTech in the Healthcare Industry
14th March 2023 At some point in every person's life, you will need an assisted medical device - whether it's your glasses, your contacts, or as you age and you have a hip replacement or a knee replacement or a pacemaker. The prosthetic generation is all around us. - Aimee Mullins(American athlete who was born with a medical condition that resulted in the amputation of both of her legs beneath the knee)Proposed Amendments to the IT Intermediary Rules: Is the playing kit adequate for the Online Gamers?
17th February 2023 On December 23, 2022, the Government of India (Allocation of Business) Rules, 1961 was amended by virtue of which ‘matters relating online gaming’ was brought under the purview of Ministry of Electronics and Information Technology (“MeiTY”). Later, on January 2, 2023, MeiTY published draft amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“IT Intermediary Rules”) in relation to online gaming to safeguard the users of online games against potential harm (“Draft Online Gaming Rules”).Recovery Certificate under Debt Recovery Act is not limited to winding up proceedings only but extends to IBC: Clarifies Supreme Court
12th September 2022 Recently, the Hon’ble Supreme Court in the case of Kotak Mahinda Bank Limited vs A. Balakrishnan & another (Civil Appeal No.689 of 2021) has held that any liability arising out of a recovery certificate needs to be treated as financial debt within vis-à-vis clause (8) of Section 5 of the Insolvency and Bankruptcy Code, 2016[1] and the holder of recovery certificate would be a financial creditor within the meaning of clause (7) of Section 5 of IBC. As such, the holder of such a certificate would be entitled to initiate the Corporate Insolvency Resolution Process if initiated within a period of three years from the date of issuance of the Recovery Certificate.Revamped Overseas Investment Rules: A Critical Insight
7th September 2022 With an aim to improve the ‘ease of doing business’ and simplifying/ liberalising the investment regime, the Government of India in consultation with the Reserve Bank of India (“RBI”), amongst others, has been progressively revamping and liberalizing the foreign exchange regime in India. In view of the foregoing, the Government of India vide Notification No. G.S.R 646(E), dated August 22, 2022, issued the Foreign Exchange Management (Overseas Investment) Rules, 2022 (“OI Rules”) and the RBI issued the Foreign Exchange Management (Overseas Investment) Regulations, 2022 (“OI Regulations”) and Foreign Exchange Management (Overseas Investment) Directions, 2022 (“OI Directions”; collectively with the OI Rules and OI Regulations, the “OI Regime”).Need for improving pharmaceutical laws – the proposed way forward
28th July 2022 With the rising need to accommodate the new requirements and adaptation of modern technology in the pharmaceutical sector, the draft of the ‘Drugs, Medical Devices and Cosmetics Bill, 2022’ (the “Bill”) has been released by the Ministry of Health and Family Welfare (MoHFW) on July 8, 2022, which seeks to replace the existing archaic law under the Drugs and Cosmetics Act of 1940 (“Act”) and the Drugs and Cosmetic Rules 1945 (“Rules”).ANALYZING THE CONUNDRUM VIS-A-VIS NCLT’s POWER TO ADMIT CIRP APPLICATION
28th July 2022INTRODUCTION
The Insolvency and Bankruptcy Code, 2016 (‘IBC’) enables financial creditors and operational creditors of a corporate debtor to initiate the corporate insolvency resolution process (‘CIRP’), under Section 7 and Section 9 of the IBC, respectively.Master Directions on Credit Card and Debit Card – Issuance and Conduct Directions, 2022
21st July 2022INTRODUCTION
Reserve Bank of India (“RBI”) issued Master Directions on Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (“Master Directions”)[1] dated April 21, 2022, effective from July 01, 2022 (except a few provisions which will be effective from October 01, 2022). These Master Directions were brought in to regulate the conduct of credit/debit payments in Banks and Non-Banking Financial Companies (NBFCs). These Master Directions provide a thorough set of instructions majorly regarding issue of credit cards and debit cards, co-branded cards, telemarketing, billing, etc. to be followed by card-issuers. These Master Directions should be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the RBI.In re Hiveloop Technology Pvt. Ltd. vs Britannia Industries Ltd.: CCI Acknowledges Manufacturer’s Right to Select Distributors
20th July 2022 The Competition Commission of India (CCI/ Commission), vide its order dated 16th June 2022, dismissed the allegations of ‘refusal to deal’ filed by Hiveloop Technologies Pvt. Ltd., Bengaluru (Informant) against Britannia Industries Ltd.(Britannia) because the Commission did not find any merit in the submissions on the aspect of ‘discrimination’. The Competition Act, 2002 (Act) guarantees freedom of trade by all market participants. This also includes the manufacturer’s freedom to choose, not only its distributors but also the mode of distribution of its products. In a recent judgement, India’s Fair Market Regulator, CCI had reaffirmed this fundamental tenet as discussed here.Every transfer or sale is not ‘actual sale’:: Clarifies Supreme Court
1st June 2022Introduction:
Recently, the Hon’ble Supreme Court in the case of PTC India Financial Services Limited (hereinafter referred as PIFSL) v. Venkateswarlu Karu & Ors. (Civil Appeal No.5443 of 2019 has held that Contract Act does not conceive of sale of the pawn to self and consequently, the pawnor’s right to redemption in terms of Section 177[1] of the Contract Act survives till ‘actual sale’.TWIN CONDITIONS TO BE SATISFIED: SC ON CLAIMS OF WAGES/SALARIES
4th May 2022 A significant judgement was passed by Hon’ble Supreme Court on 19th April 2022 in matter of Sunil Kumar Jain and others versus Sundaresh Bhatt and others[1] wherein Supreme Court has clarified the intricacies that arose on the claim for payment of wages/salaries before Corporate Insolvency Resolution Process (CIRP); during CIRP and in liquidation of a Corporate Debtor.The Online Gaming (Regulation) Bill, 2022: Hits and Misses
4th May 2022Introduction
The Online Gaming (Regulation) Bill, 2022 (“Bill”) was introduced in the Lok Sabha on April 1, 2022 to establish an effective regime for regulating online gaming industry to prevent fraud and misuse. Acknowledging the effects of addictive features of online gaming and noting the profound impact of the gaming industry on the nation, the Bill calls for institution of a regulatory commission to regulate the online gaming industry.CCI’s investigation against debenture trustee’s unit of banks – A case of concurrent jurisdiction
19th April 2022 The Competition Commission of India’s (CCI) recent investigation into the Trustee Association of India (TAI) and debenture trustee units of State Bank of India, Axis Bank and IDBI Bank for collusion in respect of charging high fees for issuing debt and due-diligence checks has raised jurisdictional conflicts over the sectoral regulator -SEBI, and the market regulator - CCI. The CCI, in its prima facie confidential order, noted that the TAI and SBICAP Trustee Company Ltd, Axis Trustee Services Ltd and IDBI Trusteeship Services Ltd had substantially increased the fee for assisting companies in raising debt and prevented members from charging below a floor price, and hence, impacting competition. Such collective decision making by the association affected competition in the relevant market. The CCI commenced its investigation on information filed by Muthoot Finance alleging the said parties had raised the cost proposal to 300% higher than previous rates for raising debts.The overriding effects of Competition Act over State Acts: determining the ‘sufficient cause’ in the condonation of delay
15th March 2022 Yet again, the Hon’ble Supreme Court of India in the case of CCI v. State of Mizoram dated 19.01.2022 has set aside the impugned judgment of the Guwahati High Court that restricted the Competition Commission of India (hereinafter referred to as the CCI) to pursue its investigation. The Apex Court upheld the authority of the CCI and in its order stated that ‘if the tendering process attracts provisions of competition, the CCI cannot be barred from acting upon it’. The case was related to an inquiry by the CCI into allegations of cartelization and bid-rigging in the tender process announced by the State of Mizoram through its functionary, the Director, Institutional Finance and State Lottery (IF&SL), for appointment of lotteries selling agents and distributors in terms of the Mizoram Lotteries (Regulation) Rules, 2011 framed under the Lotteries (Regulation) Act, 1998.Maritime transport service providers penalized for cartelization in India
11th March 2022 The Competition Commission of India (CCI) passed its final order on January 20, 2022, in a sou motu Case No. 10 of 2014 [available on: https://www.cci.gov.in/sites/default/files/10-of-2014.pdf] imposing penalties against four (4) maritime motor transport companies and their employees (those that were responsible) - Nippon Yusen Kabushiki Kaisha (NYK Line), Kawasaki Kisen Kaisha (K-Line), Mitsui OSK Lines (MOL) and Nissan Motor Car Carrier Co (NMCC), for cartelizing in the market of maritime motor transport services on Pure Car Carrier vessels (PCCs) provided to automobile Original Equipment Manufacturers (OEMs). The OEMs have been manufacturing automobiles in India and hiring the maritime transport services of the impugned enterprises for transporting their vehicles at various trade routes abroad from 2009 to 2012.NO BAR FOR WITHDRAWAL AFTER CONSTITUTION OF COC
2nd March 2022 A significant amendment by Act No. 26 of 2018 (w.e.f. 6-6-2018) was brought in the form of insertion of Section 12A which provided for withdrawal of applications admitted under Section 7, 9 or 10 of the Insolvency and Bankruptcy Code, 2016 (“Code”) with the approval of creditors representing 90% (ninety percent) of the voting share of the committee of creditors. Before this amendment, once the CIRP was initiated by admitting the application, there was no scope for withdrawal except for illegality to be shown or if it is without jurisdiction or for some other valid reason. The Hon’ble Supreme Court in exercise of its powers under Article 142 of the Constitution used to intervened, taking into consideration the settlement reached between the parties.MULTI REGULATOR APPROACH TO MISLEADING ADVERTISEMENTS
25th February 2022Central Consumer Protection Authority
The Consumer Protection Act, 2019 (“CPA”) defines misleading advertisements as advertisements which “falsely describe the product or service; give a false guarantee or is likely to mislead the consumers as to the nature, substance, quality or quantity of such productor service; or deliberately conceals important information about the product or service.”[1]Game On, Rules Unclear!
24th February 2022The Maze:
The Sports (Online Gaming and Prevention of Fraud) Bill, 2018 (“Sports Bill”) was introduced in Lok Sabha on December 28, 2018, with an aim to prevent and penalize sports fraud, and establish regulatory mechanism for the online gaming sector, which has thereafter lapsed. Meanwhile, the ambiguities with respect to the legal framework of online gaming continues to persist.CASE NOTE
28th September 2021 The Hon’ble Supreme Court recently delivered the judgement on three (3) petitions[1] that involved questions of withdrawal or modifications after the approval of resolution plan by the Committee of Creditors and filed with NCLT for its approval. The Court held that once the resolution plan is approved by Committee of Creditors and submitted to NCLT; the successful resolution applicant cannot withdraw or modify the resolution plan. The present case analysis aims to probe the various modalities of the judgement and bring to fore the key facets of the facts, issues, and ruling. Further, the article will conclude with the author’s opinion on the legal position outlined in the judgement.REAL MONEY GAMING AND BETTING IN FOREIGN CURRENCIES: POINTS TO BE NOTED
22nd September 2021The layman’s perspective
During the past three months, several media houses reported that almost one thousand notices have been issued by the Enforcement Directorate (“ED”) to individuals for using international credit and debit cards to bet on football league matches, remitting funds for real money gaming to overseas platforms in foreign currencies and not surrendering the pre-loaded forex cards which are often used during tours abroad. Such action by the ED came as a surprise to many, as these individuals wondered whether merely participating in online games and betting in a sports league, through a simple mobile app, could amount to violation of laws, more particularly, violations under foreign exchange laws which attract investigations by the ED.PROCUREMENT ROUTES FOR CONTRACT
22nd September 2021 Construction contracts, in infrastructure projects mainly refer to airports, structures, bridges, roads, dams, ports, and other civil engineering activities. Historical data suggests that in most government awarded contracts, particularly of high value, the bidders tend to underbid so as to achieve the status of “L-1” with an ultimate aim of subsequently claiming additional costs from the government.NPPA CAPS TRADE MARGIN FOR SIX ESSENTIAL MEDICAL DEVICES
27th July 2021 The National Pharmaceuticals Pricing Authority (NPPA) invoked its extraordinary powers under Paragraph 19 of the Drugs (Prices Control) Order, 2013 (DPCO), to put a cap on the trade margin of the following medical devices — oxygen concentrators, pulse oximeters, glucometers, BP monitors, nebulizers and digital thermometers with an aim to make these medical devices affordable during the evolving situation of the COVID pandemic and to regulate the trade margin on these medical devices. NPPA is formed under the Department of Pharmaceuticals which is a division of the Ministry of Chemicals and Fertilizers to regulate and monitor prices of drugs/formulations and oversee the implementation of the DPCO.Presence of an arbitration clause does not oust the jurisdiction under Article 226::Supreme Court reiterates
3rd June 2021 In the matter titled Rapid MetroRail Gurgaon Limited v. Haryana Mass Rapid Transport Corporation Limited and Ors[1] (“Instant Matter”), the Hon’ble Supreme Court bench comprising of Justice D.Y. Chandrachud, Justice Sanjiv Khanna, and Justice M.R. Shah delved into the controversy as to whether public law remedy under Article 226 of Constitution of India can be availed in arbitrable matters. This article explores and dissects the intricacies pertaining to the factual pattern and the rationale for the Supreme Court’s holding on the issue.PPAs cannot be terminated during moratorium: NCLAT’s view affirmed by Supreme Court
25th March 2021Introduction
The Hon’ble Supreme Court in its order dated 08.03.2021 in matter titled Gujarat Vikas Nigam Limited Vs. Mr. Amit Gupta & Ors. (“Instant Matter”), while upholding order of the National Company Law Appellate Tribunal (“NCLAT”) held that National Company Law Tribunal (“NCLT”) has jurisdiction to adjudicate contractual disputes which arise solely from or which relate to corporate debtor’s insolvency. In the Instant Matter, the Hon’ble Court has dealt with the role/power of NCLT to determine party’s right to terminate the Power Purchase Agreement (“PPA”) owing to initiation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”), and the intersection of a party’s right to terminate such agreement and its regulation under IBC.