Powers Of Attachment Of The Directorate Of Enforcement Under The Prevention Of Money Laundering Act, 2002

The commission of offences dealing with the crime of money laundering, in India, has increased considerably in the last decade or so with huge scandals being uncovered on a regular basis. The Prevention of Money Laundering Act, 2002 ("the PMLA") though enacted and notified on 17th January 2003, came into force w.e.f. 1st July 2005 and has been amended more than once, lastly by the Finance Act, 2019. It was enacted with the objective of prevention of money laundering and for providing for...

Is It Alive Only On Paper - Special Task Force/Committee (POCSO) Of Delhi Police Constituted As Per Alakh Alok Srivastava Judgement?

"Children are highly vulnerable. They have little or no power to protect or provide for themselves and little influence on so much that is vital to their well-being. Children need others to speak for them, and they need decision-makers who put their well-being ahead of selfish adult interests." - Dallin .H. Oaks

The Glass Half Empty: Analysing The Arbitration And Conciliation (Amendment) Act, 2021

The Central Government on March 11, 2021 has notified the Arbitration and Conciliation (Amendment) Act, 2021 ("Amendment Act"), to repeal the Arbitration and Conciliation (Amendment) Ordinance, 2020 ("Ordinance") dated November 4, 2020. The Amendment Act, however, seeks to provide validity to anything done or any action taken under the Ordinance. In the first part of this series (available here), we had critically evaluated the practical implications of the amendment of Section 36(3)...

How Special Are The Special Courts Under POCSO Act: Need To Exercise Suo-Moto Jurisdiction In Granting Interim Compensation?

Hovering over a pertinent question as to when shall we be able to joyfully celebrate the Children's Day in our country, when the tribulations of sensitive souls are haunting our minds with unfortunate innumerable instances of abuse and assault being committed incessantly against the children with no abatement in sight. Justifications are many concerning the state's inability to prevent the commission of crimes against children when the offences are found committed by near and dear ones, ...

Powers Of Attachment Of The Directorate Of Enforcement Under The Prevention Of Money Laundering Act, 2002

The commission of offences dealing with the crime of money laundering, in India, has increased considerably in the last decade or so with huge scandals being uncovered on a regular basis. The Prevention of Money Laundering Act, 2002 ("the PMLA") though enacted and notified on 17th January 2003, came into force w.e.f. 1st July 2005 and has been amended more than once, lastly by the Finance Act, 2019. It was enacted with the objective of prevention of money laundering and for providing for...

When Does Delivery Of The Arbitral Award To The Parties Complete

Under the Arbitration and Conciliation Act, 1996 ("the Act"), as amended up to date, the remedies in respect of arbitral award are to be availed within rigid timelines, which are provided under the Act. A party can seek correction of error, interpretation or even additional award by filing an application before the Tribunal within 30 days from the date of receipt of the arbitral award. If, however, a party wishes to challenge the award, it can do so by filing an application before the...

Not All Disputes Are Amenable To The Jurisdiction Of Electricity Commission: PPAs Cannot Be Terminated During Moratorium

The Hon'ble Supreme Court in its order dated 08.03.2021 in the 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 Instant Matter, the Hon'ble Court has dealt with the role/power of NCLT to...

"New Normal"-ICC Amends The Rules For "Cleaner" And "Greener" Arbitration

The fast-changing world, complexities in arbitration and the growing needs of arbitration community across the globe, stimulated the International Chamber of Commerce ("ICC") to codify certain arbitral practices and refresh its approach in the form of a new set of Rules called the ICC Arbitration Rules,2021 ("New Rules"). Proposed in December 2020 by the ICC, New Rules have come into force from January 1, 2021, and shall apply to arbitrations commencing on or after January 1, 2021,...

The Conundrum Of "Unpublished Information" Under The Insider Trading Regulations

The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 ("Insider Trading Regulations") prohibit trading in listed securities when in possession of unpublished price-sensitive information ("UPSI"). Therefore one question which invariably needs to be addressed in such matters is whether the information that was alleged to be UPSI was "unpublished." In a recent order issued by the SEBI in February 2021, Future Corporate Resources Private Limited,...

Formation Of Contract- When Completes

In one of its most recent judgments, in the case of Padia Timber Company (P) Ltd. Vs The Board of Trustees of Visakhapatnam Port Trust Through its Secretary[1], the Hon'ble Supreme Court considered the issue of regarding formation of the contract between the parties, which was the bone of contention between the parties. The Hon'ble Apex Court found that neither the trial court nor the high court had considered this crucial issue, while deciding the case. Factual Matrix: The...

Purpose And Procedure For Drafting A Family Constitution

A family constitution essentially is a charter that documents the values and principles of a family business. The contents of the family constitution essentially underline the values and principles of the business while also providing reference for strategic objectives or decision-making procedures concerning ownership or management. Since each family does not have the same composition or structure, a family constitution will vastly differ. Even in terms of conflict resolution, a family...

New Rules For Digital Media Intermediaries: How Far Is Too Far?

On February 25, 2021, the Indian government unveiled the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 (the "New Rules"). Once notified in the Official Gazette, the Intermediary Rules will supersede the decade-old Information Technology (Intermediary Guidelines) Rules, 2011 (the "Intermediary Guidelines") as the Indian government strives to keep up with the rapid digitization in India. Divided into three (3) parts, the New Rules aim to...