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Regulatory Framework in India and the Startup Ecosystem: An Unresolved Conundrum

[Anushka and Amogh are students at Rajiv Gandhi National University of Law, Punjab.] The recently released World Bank report on the Ease of Doing Business (EODB) hints at optimism; for India is currently ranked at 63 out of 190. However, an often-overlooked statistic is its position in starting a business, which is one of the indicators while calculating the EODB. India currently ranks 136 out 190 in starting a business and has only improved by one place over the last year. In spite of ambitious projects undertaken by the Indian government such as 'Start-up India' and adopting a 'pro-entrepreneurship' attitude, a report by the IBM Institute for Business Value and Oxford Economics states that

Analyzing the Scope of CIRP Proceedings against Financial Service Providers under the Insolvency and

[Varun Pandey is a student at School of Law, University of Petroleum and Energy Studies.] The Central Government has introduced the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules 2019 (Rules), following the IL&FS collapse of 2018 and the subsequent Dewan Housing Finance Corporation Limited crisis. Notified in terms of Section 227 read with Section 239(2)(zk) of the IBC, the Rules empower the government to commence insolvency proceedings against financial service providers, albeit in consultation with the appropriate financial sector regulator as prescribed by the law. Background The issue of tr

CCI Orders Investigation against Online Hotel Booking Service Providers - OYO, MakeMyTrip - for Alle

[Prerna Kapur is a student at National Law University, Odisha.] On 28 October 2019, the Competition Commission of India (CCI) ordered the Director General (DG) to conduct an investigation against hospitality giants, Oravel Stays Private Limited (OYO), MakeMyTrip India Private Limited (MMT) and Ibibo Group Private Limited (Go) for allegedly violating Sections 3 and 4 of the Competition Act 2002 (Act). This information was filed by Federation of Hotel and Restaurant Associations of India (FHRAI), which is the apex representative body of the hospitality industry in India. FHRAI currently ranks as the third largest hotel and restaurant industry in the world having associations with over 2,503 ho

First Among Equals: Solving the Baffling Conundrum of Indian Insolvency Law

[Aastha Agarwalla and Daksh Aggarwal are students at Campus Law Centre, Faculty of Law, University of Delhi.] The ‘equitable treatment of similarly placed creditors’ is a well-established principle in insolvency laws. The legislative guide of the United Nations Commission on International Trade Law (UNCITRAL) clearly states that “The insolvency law should specify that all similarly ranked creditors, regardless of whether they are domestic or foreign creditors, are to be treated equally with respect to the submission and processing of their claims.”[1] The intent of the provision is to treat creditors with similar legal rights at par with each other and to ensure that they are preferentially

Venue = Seat? Indian Supreme Court's Dismal Stirring of Settled Precedents

[Achyutha GM is a student at Gujarat National Law University.] On 25 July 2018, a big blow was given by the Supreme Court of India (Supreme Court) in Brahmani River Pellets v. Kamachi Industries (Brahmani River) to settled precedents clarifying the distinction between seat and venue of arbitration. The court equated the choice of a venue with the seat of arbitration conferring exclusive jurisdiction to the respective High Court. This post seeks to critique the decision in light of previous judgments of the Supreme Court and current developments in the field of arbitration law. Background An agreement was executed between Brahmani River Pellets Limited (Appellant) and Kamachi Industries Limit

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