Legal Business

Sponsored briefing: The changing paradigm of commercial disputes in India

Sponsored briefing: The changing paradigm of commercial disputes in India

Manoj Singh and Nilava Bandhopadhyay give an overview of the new Indian Arbitration and Conciliation (Amendment) Act

India is one of the fastest growing major economies, even during the present global economic slowdown. A number of ambitious regulatory reforms have recently been launched by the government, resulting in India ranking 63rd in the ‘Doing Business 2020: World Bank Report’ – a jump of 65 places – since 2014. The growth of the economy, has brought with it a multitude of complex, commercial disputes, making commercial litigation inevitable. Being a global economic powerhouse, and in the interest of integrating with the international business community, Indian laws have repeatedly been amended to keep India on par with legal regimes in other leading commercial law jurisdictions. A testament to this is the recent Arbitration and Conciliation (Amendment) Act, 2019, which endeavours to make India a global hub of business by giving effective solutions for dispute resolution through international commercial arbitration. Among others, the amendment seeks to institutionalise and streamline the process of arbitration in India by establishing the Indian Council of Arbitration. The Indian judiciary, too, has played its part by pronouncing a number of judgments aimed at making the country more ‘pro-arbitration’. A catena of judgments – past and recent – have upheld the doctrine of minimal judicial intervention enshrined in section 5 of the Arbitration and Conciliation Act, 1996. This article examines some of the recent legislative changes and judicial changes that seek to transform India into a global commercial litigation hotspot.

Legal Business

Sponsored briefing: Reverse corporate insolvency resolution process

Sponsored briefing: Reverse corporate insolvency resolution process

Manoj K Singh and Vijay K Singh discuss the concept of reverse CIRP in India’s insolvency and bankruptcy matters

In December 2016, the Insolvency and Bankruptcy Code 2016 (I&B Code 2016) was introduced with the objective of rescuing a company in distress by maximising the value of its assets and promoting entrepreneurship, availability of credit and balancing the interest of all the stakeholders, including but not limited to shareholders, creditors, debtors, etc.

Legal Business

Sponsored briefing: The road to litigation

Sponsored briefing: The road to litigation

Manoj Singh and Nilava Bandyopadhyay discuss the growth of commercial litigation in India, with a focus on infrastructure projects

Broadly speaking, commercial litigation encompasses any type of litigation that deals with or involves issues related to business, usually between two business entities but definitely not restricted to that. Currently, in India commercial litigation has turned out to be a burgeoning field of law. Its growth has been spurred by the recent trend of booming domestic businesses, newly-emerging small businesses, and vast diversification of already existing businesses and players in the market. An overview follows of a few of the areas that are frequently associated with commercial litigation and those that are primarily arising out of this sort of litigation.

Legal Business

Sponsored briefing: Financial litigation in India – An analysis of recent developments in insolvency law

Sponsored briefing: Financial litigation in India – An analysis of recent developments in insolvency law

Daizy Chawla charts the progress of India’s Insolvency and Bankruptcy Code

‘The Insolvency Code is a legislation which deals with economic matters and, in the larger sense, deals with the economy of the country as a whole.’

Legal Business

Global Outlook sponsored briefing: Reformation and evolution of the arbitration laws in India

Global Outlook sponsored briefing: Reformation and evolution of the arbitration laws in India

The Indian courts are proposing new amendments to legislation surrounding arbitration in India to encourage a positive pro-arbitration approach

The arbitration regime in India has undergone evolutionary change in the last few years. The arbitration laws in India have been made more flexible with time, to attract international parties to choose India as their preferred seat for international arbitration.