Articles and Updates

Indian Arbitration Yearly Roundup: 25 Important Arbitration Judgments Of 2021
  • Vasanth Rajasekaran , Saurabh Babulkar and Harshvardhan Korada - 30-12-2021

In recent years, various Indian courts have delivered decisions that have aimed to reduce the scope of intrusion in the arbitral process and make India an arbitration-friendly jurisdiction. The year 2021 was no exception to the trend of promoting arbitration as we witnessed some significant judgments being delivered on the law of arbitration. We cover twenty-five such judgments in this edition of the Indian Arbitration Yearly Roundup 2021.

Read More
Indian Insolvency Yearly Roundup 2021
  • Vasanth Rajasekaran , Saurabh Babulkar and Harshvardhan Korada - 30-12-2021

The year ended on a high note, with several noteworthy judgments being delivered by the Supreme Court, NCLATs and NCLTs across India in matters involving the Insolvency and Bankruptcy, Code 2016. We cover a few such decisions rendered in the year 2021 that discuss and set out the legal position concerning the interpretation and applicability of provisions of the Insolvency and Bankruptcy Code, 2016.

Read More
Supreme Court Confirms That Arbitration Petition Not Maintainable After Admission Of Section 7 IBC Petition
  • Neha Naik and Madhavi Doshi - 27-12-2021

In a recent judgment1, upholding the order passed by the NCLT and settling previous uncertainties, the Supreme Court of India (“Supreme Court”), held that an arbitration petition is not maintainable after a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) is admitted. However, during the pendency of a Section 7 petition, parties could be referred to arbitration.

Read More
Arbitration Agreement Cannot Allow Retrospective Application Of 2015 Arbitration Amendment Act: Supreme Court Of India
  • Vasanth Rajasekaran , Saurabh Babulkar and Harshvardhan Korada - 20-12-2021

The Hon'ble Supreme Court in a recent decision in Ratnam Sudesh Iyer v. Jackie Kakubhai Shroff1 reiterated that the Arbitration and Conciliation (Amendment) Act 2015 (2015 Amendment Act) is prospective in nature and would apply to only those arbitral proceedings or court proceedings commencing on or after the 2015 Amendment Act coming into force. Therefore, the Apex Court held that the plea of 'patent illegality' was not available for an award that was rendered in an international commercial arbitration post the 2015 Amendment Act. Further, the Apex Court clarified that a generally worded arbitration clause could not constitute an agreement to allow retrospective application of the 2015 Amendment Act contrary to the legislative intent. In this article, we briefly navigate through the facts and findings which led to the aforementioned judgment.

Read More
The Ship Has Sailed! NCLAT Overturns NCLT Order - Goods Abandoned Prior To CIRP, Not Assets Of Corporate Debtor
  • Jatin Arora , Neha Naik and Madhavi Doshi - 20-12-2021

In a recent judgment1 overturning the order of the NCLT, Ahmedabad (NCLT), the NCLAT New Delhi (NCLAT) held that abandoned imported goods lying in the customs warehouses for several years, cannot be considered a part of the Corporate Debtor's (CD) assets.

Read More