Last year saw India jump 23 notches, ranking 77th
worldwide in world bank's ease of doing business index. Several
reform initiatives undertaken by the Indian Government in the last
few years are credited for this. The year also had its share of
capital markets volatility, banking scandals, ballooning of bad
debts, companies going under the bankruptcy hammer and such.
With the new year 2019 waiting to unfold before us, we wrap up
crucial developments from the year gone by.
Contract enforcement finally sees relief
India currently ranks 163rd in the ease of doing
business index in enforcement of contracts. Keeping in mind
India's abysmal performance in this index, the legislature
proposed amendments to the Specific Relief Act, 1963 to bring it up
to speed with today's requirements by introducing the Specific
Relief (Amendment) Act, 2018.
