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MEP v. SDMC - The Changing Threshold of Providing Notice While Invoking Force Majeure Clauses

[Eeshan and Shubhaankar are students at NALSAR University of Law, Hyderabad.] Any unforeseeable event which is entirely beyond the control of the parties is categorized as a force majeure event. The conditions for invoking a force majeure clause in a contract are stringent, for they impose a strict obligation on the parties to perform due diligence, and only after that, if they are unable to determine the happening or non-happening of the said event, the clause may be invoked. In the recent decision of MEP Infrastructure Developers Limited v. South Delhi Municipal Corporation, the Delhi High Court upheld the validity of a force majeure clause in a contract between the disputing parties citin

An Appraisal of Developments in the Overseas Listing Regime of India

[Arpit is a student at National Law University, Jodhpur.] Recently, the Companies (Amendment) Bill 2020 (Bill) introduced an enabling provision for overseas listing of securities by Indian companies. According to Clause 5 of the Bill, the government can allow 'a class of public companies' to issue 'a specified class of securities' to list on the stock exchange(s) in 'permissible foreign jurisdictions'. The Indian government, together with the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) will deliberate upon these details of the provision in the upcoming months. The move will encourage Indian corporates to raise capital through foreign markets and investor

Guest Post: EU Targets China’s Belt and Road Initiative in Egypt through Countervailing Duty

[Mr Bhatnagar is a Professor at the Centre for WTO Studies.] The EU is going all out to counteract Chinese advances through the latter’s Belt and Road initiatives in Africa. EU went to the extent of stretching the WTO subsidies' rules to find a subsidy provided by China for its enterprises operating in Egypt. The alleged subsidization in Egypt concerns two related companies in the China-Egypt Suez Economic and Trade Cooperation Zone (SETC-Zone). In a recent countervailing duty investigation order issued on 12 June 2020 involving exports of Glass Fibre Fabric (GFF) from Egypt to the EU, the EC held that the two entities Jushi Egypt and Hengshi Egypt operating in the SETC-Zone in Egypt were be

Applying Issue Estoppel in Enforcement Proceedings in India: Preventing a Second Bite at the Cherry

[Himanshu and Umang are students at NALSAR University of Law, Hyderabad.] Issue preclusion, also known as issue estoppel, precludes a party from raising an issue already decided in a prior litigation between the parties in a subsequent litigation between the same parties. Most common law jurisdictions recognize the principle of issue estoppel.[1] The recent decision of the England and Wales High Court (EWHC) in Carpatsky Petroleum Corporation v. PJSC Ukrnafta (Carpatsky) solidifies the jurisprudence on the application of this principle in enforcement proceedings. This decision has bolstered confidence in the English enforcement regime for award creditors facing recalcitrant award debtors. In

Implications of CCI’s Proposal to Dispense with Assessment of Non-Compete Restrictions under Merger

[Niti is a Research Associate at the Competition Commission of India.] Since merger and acquisition (M&A) transactions largely entail huge investments on the part of the entities involved and also impact consumers, market competitors and the economy at large, it becomes imperative to assess them under antitrust law to prevent any disruption of the competition in the market. In India, M&A transactions are scrutinized from an antitrust angle by the Competition Commission of India (CCI) under the Competition Act 2002 (Act) and the combination regulations framed thereunder. CCI regulates M&A transactions by defining financial thresholds for such transactions, and if any transaction exceeds these

Arbitrability of Tenancy Disputes in India: Current Position and Expectations from the Future

[Chitransh is a student at National University of Advanced Legal Studies, Kochi.] Arbitrability of any issue is concerned with the question of whether a dispute can form part of the subject matter of arbitration. In India, the scope and extent of ‘arbitrability’ of various subject matters have been in constant doubt and debate. This uncertainty has arisen due to the lack of any express provision under the Arbitration and Conciliation Act 1996 (A&C Act) restricting the arbitrability of disputes arising out of specific legal relationships. One of the victims of this uncertainty is the landlord-tenant relationship which is governed by the Transfer of Property Act 1882 (ToPA). It is inarguable t

Sandeep Mishra v/s NHAI: A Case of CCI's Prejudice

[Yagya is a student at Institute of Law, Nirma University.] Public procurement is a principal economic activity of the government which can be defined as “a process of purchasing goods or services by the public sector”. The aim of public procurement is to promote efficiency by way of selecting suppliers with the lowest price or obtaining the best value for public money. In India, government procurement constitutes about 30% of the GDP. The existence of competition is essential for a public procurement process to realize its purpose, which is to determine the most efficient price offered in a market. Be that as it may, in the instance of corrupt practices like collusion among the competitors

Does Section 3(1) of the Competition Act 2002 Have a Standalone Applicability?

[Srishti is a student at National Law University, Jodhpur.] The draft Competition Law Amendment Bill 2020 (Bill) was released recently. The Bill is an outcome of the recommendations given by the Competition Law Review Committee in its report (CLRC / Committee). The Committee was formed to review and recommend a robust competition regime and suggest changes in the existing competition framework. Among other things, the Bill seeks to expand the ambit of Section 3 of the Competition Act 2002 (Act) by amending section 3(4) of the Act. Section 3 of the Act is focused on anti-competitive agreements which cause or are likely to cause an appreciable adverse effect on competition (AAEC). These agree

Tax Implications of India's Personal Data Protection Bill

[Varun is a student at Gujarat National Law University.] The increase in the use of cloud computing has raised several privacy concerns and hindrances to cross-border law enforcement, particularly because multinational corporations do not maintain IT infrastructure in every country. Instead, they use servers situated at one location for their operations across the globe or rent the servers from a third party. To remedy this, the Personal Data Protection Bill 2019 (Bill) was introduced in Parliament. The Bill seeks to regulate the way in which personal data is collected, processed and stored by corporations and the government. It proposes data localisation to achieve the same. The Bill catego

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