Dentons Link Legal > New Delhi, India > Firm Profile
Dentons Link Legal Offices
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Dentons Link Legal > The Legal 500 Rankings
India > Aviation (including aerospace and defence) Tier 1
The robust aviation practice at Dentons Link Legal runs the gamut of aviation and aerospace matters, handling commercial, contentious, and transactional matters for airlines, airports, contractors, and service providers across the industry. Founding partner Atul Sharma draws on in-house experience in the industry to advise on major aircraft fleet acquisitions, and is a key contact for contentious aviation matters; Anand Srivastava takes point on financing matters and large transactions, while Abhishek Sharma has extensive experience handling civil and commercial disputes for clients across the sector. The trio jointly leads the team. Also in the core team are corporate specialists Milind Jha and Namita Das. Neha Singh left the team in 2022 to go in-house, while 2023 saw the departure of litigator Milanka Chaudhury, now at Trilegal. All mentioned lawyers are based in Delhi.Practice head(s):
Atul Sharma; Anand Srivastava; Abhishek Sharma
Other key lawyers:
Key clients
SNV Aviation Private Limited (d/b as Akasa Air)
GMR Hyderabad International Airport (GHIAL)
SpiceJet Limited
Delhi International Airport Limited (DIAL)
Bangalore International Airport Limited
Big Charter Private Limited (FlyBig)
GMR Goa International Airport Limited (“GGIAL”)
WAISL Limited
Indianoil Skytanking Pvt. Ltd.
Reliance Transport & Travel
Vietnam Airlines
Work highlights
India > Projects and energy Tier 1
Dentons Link Legal has vast experience in handling large-scale projects focusing on roads, airports, and oil and gas matters, in tandem with advising on project financing and EPC contracts. The firm represents clients from an array of sectors, including aviation, defence, and information technology, in contentious and transactional work. In New Delhi, Atul Sharma acts on behalf of developers and contractors in infrastructure projects, Anand Srivastava has expertise in project finance matters, and Milind Jha advises on M&A and capital markets issues. Ravi Varma and Milanka Chaudhury are key names to note.Practice head(s):
Atul Sharma; Anand Srivastava; Milind Jha
Other key lawyers:
Ravi Varma; Milanka Chaudhary; Ketan Mukhija; Aditya K Singh
Key clients
SNV Aviation Private Limited (d/b as Akasa Air)
GMR Hyderabad International Airport (GHIAL)
SpiceJet Limited
Delhi International Airport Limited (DIAL)
Bangalore International Airport Limited
Big Charter Private Limited (FlyBig)
GMR Goa International Airport Limited (“GGIAL”)
WAISL Limited
Indianoil Skytanking Pvt. Ltd.
India > Banking and finance Tier 2
Dentons Link Legal’s banking and finance team regularly assists major Indian private and public sector banks with domestic and international transactions spanning across a wide range of sectors, including the construction, infrastructure, energy, and education industries. Nidhi Pathania is well renowned for her expertise in handling complex insolvency matters for multiple Indian banks, and jointly leads the team with Anand Srivastava. Samantha Fernandes’ practice entails a wide range of transactions, including syndicated financings, NCD issuances, and cross-border financing work, while Namita Das is active in the debt resolution space. Other key members include litigation expert P Ravi Charan and Y Sriniwas Arun, who regularly advises corporates and banks on the restructuring of debt and stressed assets.Practice head(s):
Anand Srivastava; Nidhi Pathania
Other key lawyers:
Testimonials
‘Partner involvement and sector experience and expertise.’
‘Nidhi Pathania and Samantha Fernandes: – involved in the transaction and aware of the key issues – good at drafting and negotiation – good sector knowledge and experience.’
Key clients
Axis Bank Limited
ICICI Bank Limited
HDFC Bank Limited
Bondbazaar Securities Private Limited
Trust Investment Advisors Private Limited
State Bank of India
HSBC
Bank of Baroda
IDBI Bank
Punjab National Bank
Yes Bank Limited
Power Finance Corporation Limited
Aseem Infrastructure Finance Limited
Export-Import Bank of India
India > Corporate and M&A Tier 2
Displaying ‘strong professional ability’ in the corporate and M&A field, the Dentons Link Legal team frequently advises on transactions in the infrastructure, e-commerce, TMT, and energy sectors. The M&A practice collaborates closely with the firm’s insolvency and restructuring practice on the acquisition of stressed assets deals, along with routinely assisting funds and private equity companies with investments and regulatory concerns. Based in Mumbai, co-head Nusrat Hassan has vast experience of advising international clients on structuring transactions and complex disputes, whilst Anand Srivastava co-leads the group from New Delhi, specialising in joint ventures and project finance matters. Anuj Trivedi focuses on corporate restructurings, and Milind Jha is an expert on capital markets and general commercial issues. Namita Das concentrates on insolvency and bankruptcy proceedings, and Ambuj Sonal handles strategic alliances and cross-border investments.Practice head(s):
Nusrat Hassan; Anand Srivastava
Other key lawyers:
Anuj Trivedi; Milind Jha; Ketan Mukhija; Namita Das; Santosh Pai; Vinu Peter Immanuel; Ambuj Sonal; Pradnesh Warke; Amit Bhatnotra
Testimonials
‘The is very responsive and capable in connection with all the complex transactions.’
‘Nusrat from Mumbai office and Dr Rajesh from Delhi office are great.’
‘The team has rich experiences in M&A projects, not only familiar with Indian local laws, but also familiar with the procedures of major asset restructuring projects of listed companies in China, and able to provide legal support.’
‘Strong professional ability, high efficiency, good communication skills.’
Key clients
Navkar Corporation
Precious Alloys Private Limited
Auctus Advisors
Doncasters Group of Companies
Paramount Polymers Private Limited
Digiexpress Trade Private Limited
March Work Private Limited
NTPC Limited and SBI Capital Markets Limited
Malpani Group
Howen International Fund SPC
India > Dispute resolution: litigation Tier 2
Founded with a focus on dispute resolution, Dentons Link Legal maintains a focused litigation offering that spans the full spectrum of industries and sectors. Firm founder Atul Sharma, in New Delhi, heads the team and has particular focus on disputes in the transport and infrastructure sectors; Ravi Varma is another key name here. The firm’s expanding areas of expertise include a growing insolvency practice where New Delhi’s Abhishek Sharma is the key contact, and aviation is another area of recent focus and growth. In Mumbai, managing partner Nusrat Hassan and Sidhartha Srivastava take point on cross-border contentious transactional matters and corporate disputes. Former practice co-head Milanka Chaudhury left the team in July 2023.Practice head(s):
Atul Sharma
Other key lawyers:
Key clients
SpiceJet Limited
GMR Ambala Chandigarh Expressways Private Limited
Vestige Marketing Private Limited
JBM Group
Sew Infrastructure Ltd.
Ayana Ananthapuramu Solar
Delhi International Airport Limited (DIAL)
India Infrastructure Finance Company Limited (IIFCL) and IFCI
CRCC High-Tech Equipment Corporation Limited
China Datang Technologies & Engineering Co. Ltd.
Bangalore International Airport Limited
GMR Hyderabad International Airport Limited
Resolution Professional of Educomp Solutions Ltd.
JSW Severfield Structures Ltd.
Arka Energy B.V. and India Power Corporation Limited
Larsen and Toubro Ltd.
State Bank of India (SBI)
Asset Reconstruction Company (India) Limited & CoC
India > Restructuring and insolvency Tier 2
Dentons Link Legal, with its ‘in-depth knowledge and practical experience’ has represented clients across the breadth of the restructuring and insolvency market, including banks, investors, asset reconstruction companies, resolution professionals, and corporate debtors as well as corporate creditors. The team, which has represented cases in the NCLT, NCLAT, and the Supreme Court, is led by Anand Srivastava, Nidhi Pathania, and Abhishek Sharma. Their collective experience encompasses a wide range of industries from hotel insolvencies to liquidations of shipyards.Practice head(s):
Anand Srivastava; Nidhi Pathania; Abhishek Sharma
Other key lawyers:
Abhinav Agnihotri
Testimonials
‘The team has in-depth knowledge and practical experience.’
Key clients
Insolvency Resolution Professional of Gitanjali Gems Limited supported by Duff and Phelps
Liquidator of ABG Shipyard Limited (supported by BDO), subsequently replaced by the current Liquidator (supported by Primus)
Resolution Applicant in his individual capacity supported by EY
Liquidator of EMCO
Liquidator of ABG Shipyard
Resolution Professional of ACIL Limited
BDO India LLP
Liquidator and Grant Thornton (GT Restructuring Services LLP)
Consortium of lenders led by State Bank of India
Asset Reconstruction Company (India) Limited & CoC
GKC Projects Limited
Consortium of Lenders led by Canara Bank
Liquidator of TTTCTPL
State Bank of India (SBI)
India > Antitrust and competition Tier 3
Aviation work forms the backbone of Dentons Link Legal's practice, and the team has a solid track record for representing clients in litigation and investigations before the CCI. The group is also noted for its strength in assisting healthcare, energy, tech and retail sector clients with cartelisation, vertical agreements and compliance matters. The department is led by the triumvirate of Atul Sharma, Anand Srivastava and Abhishek Sharma, who is well known for appearing before the Supreme Court in competition-related disputes. Ketan Mukhija is a key name in the New Delhi office.Practice head(s):
Atul Sharma; Anand Srivastava; Abhishek Sharma
Other key lawyers:
Key clients
SpiceJet Limited
CRCC High-Tech Equipment Corporation Limited
BSN Medical India
Microsoft
Metro Cash & Carry India
VPS Healthcare Private Limited
Vikram Solar Limited
India > Life sciences and healthcare Tier 3
Dentons Link Legal handles a broad range of work for life sciences and healthcare clients, including pharma developers, medical institutions, and health insurers. The firm's expertise encompasses transactional work, corporate and commercial advisory mandates, regulatory and intellectual property issues, as well as contentious matters, including regulatory and internal disputes. The team is led from Mumbai by Nusrat Hassan, a dual-UK qualified practitioner with a strong record in cross-border transactions, alongside sector specialist Pradnesh Warke, who works extensively with pharma, medtech and medical devices companies on the full range of mandates.Practice head(s):
Nusrat Hassan; Pradnesh Warke
India > TMT Tier 3
Being renowned for handling M&A in the telecoms, broadcasting, and digital infrastructure sectors, alongside high-stake litigation proceedings, the team at Dentons Link Legal offers broad expertise to a wide range of clients. Based out of Mumbai, the managing partner Nusrat Hassan focuses on international transactions and private equity matters, and Prasad Dhande is knowledgeable on corporate and commercial issues arising in the TMT industry. Sidhartha Srivastava assists companies from across the energy, finance, and pharmaceutical industries.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
At Dentons Link Legal, the team advises funds, private equity firms, start-ups and early-stage companies on devising effective investment structures, with additional expertise in investments, exit and entry strategies, negotiating processes, and addressing regulatory issues. Based in Mumbai, Nusrat Hassan leads the team, while Jinni Sinha and Vinu Peter Immanuel spearhead the offering in New Delhi. Other key contacts in the group include Namita Das and Ketan Mukhija.Practice head(s):
Nusrat Hassan; Jinni Sinha; Vinu Peter Immanuel
Other key lawyers:
Key clients
Medeor
Ami Organics Limited
Digiexpress Trade Private Limited
Creanovation Technologies Private Limited
Emerging Vision, Cayman Islands
March Work Private Limited
India > Labour and employment
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 | |
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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
Dentons Link Legal announces the following promotions.
14th February 2024Abhinav Sharma has been promoted to Partner. Abhinav is part of the firm's Dispute Resolution practice and has 10 years of experience specialising in commercial disputes, construction arbitrations and corporate investigations.
Rajasthan High Court refused to pass burden of interest and carrying cost on consumers.
20th November 2023 Dentons Link Legal successfully represented Hindustan Zinc before Rajasthan High Court in a petition filed by Hindustan Zinc against an order of Rajasthan Electricity Regulatory Commission burdening consumers of the state of Rajasthan with a cost of around INR 8 thousand crores.Dentons Link Legal (India) and Dentons Europe form ESG alliance with Maharashtra National Law University Mumbai
14th November 2023 New Delhi, Mumbai, Brussels, November 13, 2023 – Dentons Link Legal (India) and Dentons Europe have signed a Memorandum of Understanding with the Centre for Training and Research in Commercial Regulations (CTRCR) at Maharashtra National Law University (Mumbai) to collaborate on a pro-bono basis in the field of ESG.Press Release – New Partner Announcement
1st November 2023 Dentons Link Legal is pleased to announce that Rohitashwa Prasad has joined as a Partner in the Firm’s Corporate Commercial practice in the New Delhi office.NCLAT gives nod to Resolution Plan of Viceroy Hotels
1st November 2023 Asset Reconstruction Company (India) Limited representing Committee of Creditors of Viceroy Limited has filed an appeal before Hon’ble NCLAT,Press Release – New Partner Announcement
20th October 2023 Dentons Link Legal is pleased to announce that Gyanendra Mishra has joined as a Partner in the Firm’s Employment Law and White-Collar Crime practice areas in the New Delhi office.Resolution Plan approved by the NCLT for Educomp Solutions Limited
10th October 2023 The Hon’ble National Company Law, New Delhi Bench II passed an order yesterday approving the Resolution Plan of Ebix Singapore Pte. Limited for Educomp Solutions Ltd. (an ed-tech company) which has been undergoing corporate insolvency resolution process since 2017.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 Abstract The 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
Recent Regulatory Developments in the Indian Competition Law Regime
5th February 2024 Introduction In the dynamic landscape of competition law in India, the year 2023 marked a series of pivotal developments that shaped the country’s approach towards anti-trust and fair market practices.Narrowing down the rigors of N.N. Global: Approach of Indian High Courts and Recent Developments
20th October 2023 Introduction The Indian Supreme Court, in N.N. Global Mercantile Private Limited v. Indo Unique Flame Ltd. & Ors.,[1] (“N.N. Global”), deliberated on the validity of an arbitration clause contained in an unstamped agreement.Golden Shares: Indian Legal Perspective
10th October 2023 Recently, the Chinese Government’s move to acquire ‘golden shares’ in Alibaba and Tencent surfaced the internet. Back in 2021, China’s Government also bought golden shares in ByteDance, the parent company of TikTok.India’s Healthcare Sector’s Ethical and Compliant Journey to Success
29th September 2023 Introduction The healthcare industry plays a pivotal role in the well-being of a nation's population.Salient Features of the National Nursing and Midwifery Commission Act, 2023
27th September 2023 On August 12, 2023, the National Nursing and Midwifery[1] Commission Act, 2023 ("NNMC"), was given the assent of the President.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:
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- (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);
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- (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);
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- (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;
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- (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 Legal
Footnotes [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.
Comparative Guides
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India: Aviation Finance & Leasing
Published: July 2023
Authors: Anand SrivastavaNamita Das
This country-specific Q&A provides an overview of Aviation Finance & Leasing laws and regulations applicable in India.
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India: Environmental, Social and Governance
Published: May 2024
Authors: Nusrat HassanAnuj Trivedi Prashanth Sabeshan Sayantani Dutta
This country-specific Q&A provides an overview of Environmental, Social and Governance laws and regulations applicable in India.
- Aviation (including aerospace and defence)
- Projects and energy