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Guarantee or Co-Debtor? NCLAT on Arbitral Awards and Personal Guarantor Liability under IBC
In a lending landscape increasingly populated by partial assignments to asset reconstruction companies and multi-lender consent arbitrations, the discipline is likely to prove the judgment’s most durable contribution.
Shreya Sethi, Utkarsh Agarwal
9 minutes ago6 min read
Practical Problems Associated With Construing the IBC’s Moratorium Too Strictly
A moratorium construed strictly enough to protect only the named corporate debtor answers a textual question without resolving the adjudicatory and systemic ones that composite proceedings against non-debtors actually raise.
Satvik Dash
1 hour ago7 min read
Control Beyond Borders: Foreign Corporate Disclosures as Evidence of “Control” in India’s SBO Regime
Whatever the High Court decides in March 2027, the case exposes a gap in design rather than a rogue order.
Raghuvansh Bhutani, Kartik Bhat
1 day ago7 min read
Same Threshold, Different Outcomes: SEBI's New AIF Consent Rules
A fund running two different consent systems for two sets of investors in the same scheme was never defensible, and a 15% shareholding test was always going to miss real conflicts. SEBI is right to fix both problems. That said, three practical questions still need answers before the framework can work as intended.
Mridul Kumar Chaurasia, Rijul Praveen Singh
2 days ago6 min read
Who is Really a Dissenting Unitholder? Rethinking Voting and Exit Rights under REIT and InvIT Framework
SEBI’s changes are not two individual ease-of-doing-business measures. They redefine the line between an active unitholder base and a passive one, at the precise moment a REIT or InvIT switches hands.
Sarthak Rai, Harsh Jain
6 days ago7 min read
Pricing out Justice? The Supreme Court’s Reference in Santosh Associate
SK Jain has not yet been overruled, and by choosing to distinguish rather than overrule it, Lombardi has left scope for pre-deposit clauses to continue in some form.
Pranav Saraf
Nov 75 min read
The Insolvency of AI Companies: Are Datasets “Assets” under the IBC?
While insolvency practice in India has thus far treated data as an asset without considering whether privacy law even permits its transfer, this is particularly significant for AI companies, whose business models hinge on personal data.
Khushi Sharma, Lakshay Arora
Nov 56 min read
Credibility Without Duty: How SEBI Licenses the Finfluencer but Leaves the Follower Unprotected
The question is not whether finfluencers should be regulated; since December 2024, they are. The question is which of SEBI's two licensing regimes was chosen, and whether the protection inside it reaches the people carrying the risk.
Aditya Harsh
Nov 16 min read
Reconceptualising the Maternity Benefit Policy in India: Examining the Count of Surviving Children and Suggesting Reforms
The current code deals with the number of surviving children, but it should deal with the number of fit deliveries.
Priyanshu Chouhan, Ayush Patel
Oct 316 min read
The IBC’s Dirty Secret: How Nidhi Borrowers Vote Themselves Rich at Savers’ Expense
The IBC can accommodate Nidhis only if it recognises the community inside their corporate form.
Devansh Awasthi, Yuti Malhotra
Oct 296 min read
Far From Settled: How the Ruling in Prahitha Judgment Reshapes GST on Joint Development Agreements
The court’s resort to supply-by-supply analysis overlooks the manner in which the rights, reciprocal obligations, consideration and development activities operate together to give effect to the executed JDA.
CAP Sai Srinivas
Oct 258 min read
Pre-Deposit Clauses in Arbitration and Section 38: The Question Santosh Associate Does Not Ask
Santosh Associate principally raises constitutional questions about the validity of pre-deposit clauses, and the answers the larger bench gives will settle a controversy that has occupied the courts for some years.
Shiva Mittal
Oct 247 min read
Paying to Arbitrate: What the Santosh Associate Reference Gets Right and What it Leaves Unresolved
The order is worth reading not just as a status update on pending litigation, but as a case study in how doctrinal categories can obscure the actual problem a clause creates.
D Kusumitha Rao
Oct 226 min read
Regulatory Production of Duopoly: ATF Taxation, Slot Allocation, and Competition in Indian Aviation
This article argues that the conduct-based review under the Act may not be able to reach a significant share of the market because the power is substantially structural as it is sustained by the continued exclusion of ATF from the goods and services tax.
Shaurya Jha, Sheen Wanchoo
Oct 217 min read
Recalibrating India's Primary Capital Markets: A Critical Appraisal of the SEBI ICDR Amendments 2025-2026
While the amended regulations fill in the gaps of digital governance, eligibility criteria for startups, inadequate disclosures, and angel investing reform in a comprehensive way, these amendments' success will depend on reconciling 3 conflicts: the mandatory dematerialisation of the foreign entities, moral hazard created by increased eligibility criteria, and concentration of the capital pool within a thin accreditation base.
Harshwardhan Sharma, Aarya Yadav
Oct 206 min read
The Curious Case of India’s (Booming) Primary Market and (Bleeding) Secondary Market
This piece explores the dichotomy between the continued strength of India’s primary market and the bearish nature of its secondary market. It briefly examines the possible reasons behind this divergence, including foreign outflow of capital, domestic liquidity, regulatory timing, and considers what this may say about the broader state of the Indian markets in 2026.
Tejas Kothari
Oct 184 min read
Expanding Interim Relief or Expanding Uncertainty?
This author argues that the ruling is not merely a clarification of locus standi under Section 9, but a conceptual shift in the function of interim relief.
Shivanshi Shukla
Oct 176 min read
Can You Still Believe What You See? Rethinking Deepfake Regulation After Article 50 of the EU AI Act
This piece argues that labelling alone cannot solve the deepfake problem, because synthetic content can be stripped of its provenance well before it reaches the public that needs protecting.
Khushi Sharma, Lakshay Arora
Oct 176 min read
Monetisation of Domestic Arbitral Claims and Awards: Assignment and Hypothecation
The ability to monetise an arbitral claim depends on the stage of the dispute. The transaction must therefore be built around the asset that actually exists at the relevant stage, after examining the underlying contract for restrictions and documenting the transfer under the TPA and, where relevant, the Code of Civil Procedure 1908.
Hemang Arora
Oct 165 min read
One Clock for the Commission, Another for the Applicant: Asymmetry in the CCI’s 2026 Commitment Amendments
On 18 August 2026, the Competition Commission of India notified the Competition Commission of India (Commitment) Amendment Regulations 2026. The accompanying General Statement presents the exercise as one of providing clarity and procedural certainty in response to administrative issues thrown up by two years of practice.
Dhruv Bhadana
Oct 136 min read
When Lawsuits Become Investable Assets: Regulating Litigation Finance in India [Part II]
This two-part article evaluates the viability of, and considerations involved in, litigation funding while also conceptualising model guidelines to govern this emerging alternate asset class.
Manav Pamnani, Huzaifa Kapadia
Oct 108 min read
When Lawsuits Become Investable Assets: Regulating Litigation Finance in India [Part I]
This two-part article evaluates the viability of, and considerations involved in, litigation funding while also conceptualising model guidelines to govern this emerging alternate asset class.
Manav Pamnani, Huzaifa Kapadia
Oct 107 min read
Evidentiary Asymmetry and a Warning from the Horizon Case: Analysing the Bankers’ Books Evidence Bill 2026
The Bill modernises the form of bankers’ books. Its certification architecture must also be modernised without diluting the evidentiary discipline that gives these records their legal weight.
Sai Sri Sarvani Kanda, Harinandana V
Oct 96 min read
Fast But Not Final: The Section 9A Gap in India’s Emergency Arbitration Regime
The Draft Arbitration and Conciliation (Amendment) Bill 2024, despite being pending for more than two years since its drafting, includes a provision in Section 9A for making provision for emergency arbitrators through arbitral institutions in the same way that orders can be made under Section 17(2).
Rishi Kumar
Oct 56 min read
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