Between The Lines...November 2021

Article by Vijay Pal Dalmia, Advocate, Supreme Court of India and Delhi High Court, Partner & Head of Intellectual Property Laws Division, Vaish Associates Advocates, India

Key Highlights

1. Supreme Court: An arbitrator cannot grant pendente-lite interest under Arbitration and Conciliation Act, 1996 when expressly barred by the parties.
2. NCLAT: Security Deposit and the interest thereon would fall within the ambit of the definition of 'Financial Debt' under the IBC.
3. Supreme Court: Chairman, directors, and other key managerial personnel of a company cannot be automatically held vicariously liable for the offences committed by a company.
4. Supreme Court: Limitation period for appeal under Insolvency and Bankruptcy Code, 2016 begins from the date of pronouncement of order and delay in uploading the order cannot exclude limitation.