Articles
India And Puzzles Of International Tax: A Tale Of Trendsetter
India approach towards International tax seen as controversial as seen in case of Equalization levy and Special economic provisions. Recent G20 (chaired by India) shows India's commitment for Organization for Economic Cooperation and Development (herein “OECD”), which is also seen in Union Budget 2024. Still, unilateral measures still perplex the globe. India puzzle can be seen through lens of Wei Cui, who portrays various puzzle with the model proposed by OECD. The puzzles surrounds...
An Analysis Of Katta Sujatha Reddy (Part II) - Should The Application Of The Specific Relief (Amendment) Act, 2018 Be Determined Based On The Date Of Transaction Or The Date Of Cause Of Action?
In Part 1 of this series, we tested the prospective versus retrospective debate surrounding the Specific Relief (Amendment) Act, 2018 ('Amendment') and examined whether changes in the law ought to apply to pending suits. In this second part, we look to the second prong of the Katta Sujatha Reddy ruling: What ought to be the date of reckoning to decide whether the Amendment applies? Should it be the date of the underlying transaction or the date of the cause of action? Position of Law as per...
An Analysis Of Katta Sujatha Reddy (Part I) - Is The Specific Relief (Amendment) Act, 2018 A Prospective Or A Retrospective Legislation?
1 October 2024 marked the sixth anniversary of the Specific Relief (Amendment) Act, 2018 ('Amendment') coming into force. Over these six years, various questions have been raised before the courts regarding the scope and application of the Amendment, with one of the most significant being whether it should be applied prospectively or retrospectively. In August 2022, a three-judge bench of the Supreme Court, in Katta Sujatha Reddy v.Siddamsetty Infra Projects Pvt. Ltd., 2022 LiveLaw (SC(...
Conclusion: The Future Of Sale Certificate Registration Under SARFAESI
The contentious issue regarding whether the issuance of Certificate of Sale by Authorized Officer under the Rule 9(6) of the Security Interest (Enforcement) Rules, 2002 (hereinafter “the Rules, 2002”) is exempted from registration under Section 17(2)(xii) of the Registration Act, 1908 has been conclusively settled by the Apex Court in M/s Esjaypee Impex Pvt. Ltd. v. The Asst. General Manager and Authorized Officer Canara Bank1 ('Esjaypee Impex') while affirming, that such certificates would be...
The Indian Ticket Scalping Scandal: Addressing Regulatory Gaps And Paving The Way Forward
Hoarding is an instinct rooted in the very fabric of life —creatures hoard to ensure survival during times of scarcity. Yet, humans have taken this primal instinct and mutated it to something far more insidious. We no longer hoard for survival, but for profit. No longer limited to tangible necessities, we hoard access, as was evident in the recent sales of the Coldplay concert tickets. Within 30 minutes of the ticket going live on BookMyShow, they were soldout, only to reappear later at ...
Abatement Of Proceedings Initiated Under Section 95 Of Insolvency And Bankruptcy Code, 2016 On Death Of Personal Guarantor
Recently in the matter titled M/s ApogeeEnterprises Pvt. Ltd. versus Late Shri Anil Nanda (C.P. (I.B) NO. 514 OF 2020 (“Apogee Enterprises”), the National Company Law Tribunal, New Delhi (“Adjudicating Authority”), while referring to the earlier judgments viz. judgment of the Principle Bench of the NCLT in the matter titled Alchemist Asset Reconstruction Company versus Deepak Puri (Company Petition no. IB 438 (PB) of 2021, NCLT, Delhi (“Alchemist Asset”), judgment of the Supreme Court in...
The Interplay Between Section 33 And Section 34 Of The Arbitration Act And Its Impact On Limitation Period
Settling disputes through arbitration has become the order of the day, with the disputing parties finding it cost-effective, flexible, and fast-paced. However, the outcome of an arbitration in the form of an arbitral award, may not be satisfactory on various occasions, hence, the aggrieved party can seek recourse for setting aside such an award. In India, Section 34 of the Arbitration and Conciliation Act, 1996 (A&C Act, hereinafter) elaborates the grounds on which an arbitral award...
Some Insights Into PMLA
The Prevention of Money Laundering Act, 2002 (“PMLA” for short) was enacted as a comprehensive legislation, inter alia, --for preventing the laundering of the proceeds of serious crimes, to provide for confiscation of property derived from or involved in money laundering, for setting up of agencies and mechanisms for coordinating measures for combating money laundering, and for matters incidental thereto. Even though the PMLA received the assent of the President of India on 17-01-2003 and was...
Understanding Probate: A Legal Framework
In legal matters concerning the estate of a deceased person, the processes of probate and partition play crucial roles in determining the fate of the deceased's properties. Probate refers to the legal validation of a will, while partition suits are often initiated to divide property among legal heirs, particularly when there is no will. In many cases, these two legal processes often overlap, raising various questions and challenging the jurisdiction of civil courts and probate courts....
Role Of The Judiciary In Shaping Juvenile Justice System In India
The history of juvenile justice laws in India finds its origin in various international conventions and guidelines. It is often based on the concept that a delinquent child who is under 18 years of age has a better chance of reformation and reintegration into mainstream society if proper care, protection, and correctional measures are taken by the state. Our country has seen paradigm shifts in the criminal justice system with the enactment of Juvenile Justice Legislation in 1986, 2000, and...