Assignment and Arbitration Agreements: Assignee’s “Burden” to Arbitrate
IndiaCorpLaw » Contract Law
by Guest
2w ago
[Chiranth Mukunda is a 2nd Year B.A., LL.B. (Hons.) Student at National Law School of India University, Bengaluru] In DLF Limited v. PNB Housing Finance Ltd (22 March 2024), while considering a petition under section 11 of the Arbitration and Conciliation Act 1996 ( A&C Act), the Delhi High Court observed that an assignee would be bound by the arbitration agreement in a claim brought by the other party to the agreement. In addition, the Court observed that “assignee can invoke the arbitration agreement to pursue a claim and can be compelled to arbitrate a dispute raised by another par ..read more
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The Debate Over Supreme Court’s Curative Intervention in Arbitration
IndiaCorpLaw » Contract Law
by Guest
2w ago
[Madhav Goel and Anjali Sharma are researchers at the TrustBridge Rule of Law Foundation] In April 2024, the Supreme Court of India in Delhi Metro Rail Corporation v. Delhi Airport Metro Express Private Limited (‘DMRC v. DAMEPL’) overturned an arbitral award of nearly Rs. 8,000 cr against the DMRC which was to be paid to DAMEPL, a joint venture between Reliance Infrastructure Limited and Construcciones Auxiliar de Ferrocarriles, S.A., Spain (CAF). The Supreme Court invoked its extraordinary powers under Article 142 of the Constitution of India to hear a curative petition filed by DMRC in respe ..read more
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Deciphering the Incorporation of Arbitral Clauses and Contractual Intent
IndiaCorpLaw » Contract Law
by Guest
2M ago
[Ria Bansal is a 3rd year B.A., LL.B. (Hons.) student at Rajiv Gandhi National University of Law, Punjab] Recently, the Supreme Court of India in NBCC (India) Ltd. vs. Zillion Infraprojects (P) Ltd. set aside the appointment of a sole arbitrator under section 11(6) of the Arbitration and Conciliation Act, 1996 (“the Act”) on the basis that the arbitration clause had not been incorporated within the second contract. The Court held forth that in this case there was a ‘general reference’ to the arbitral clause rather than a ‘specific’ reference. In the case at hand, the primary contract was ..read more
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Supreme Court on Grant of Loss of Profits Sans Evidence
IndiaCorpLaw » Contract Law
by Guest
3M ago
[Raghav Bhatia is an Advocate practising at the Supreme Court and Delhi High Court. He may be contacted at raghavkbhatia@gmail.com] Recently, the Supreme Court, in Unibros v. All India Radio, has explained, inter alia, the requirements to succeed in a claim for loss of profits. This post argues that while the judgment is in the right direction, the Supreme Court may have missed an opportunity to discuss the law on loss of profits in greater detail. Background All India Radio (‘AIR’) entered into a contract with Unibros (‘the contractor’), whereby the contractor was “to carry out construction o ..read more
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Addressing Unstamped Arbitration Agreements: Novel Ways to Reinforce Arbitral Autonomy
IndiaCorpLaw » Contract Law
by Guest
7M ago
[Akash Kumar Surya is a 3rd year B.A., LL.B. (Hons.) student at the National Law School of India University, Bengaluru] In the case of In Re: Interplay the Supreme Court recently delivered its verdict on the legal position of unstamped arbitration agreement in India. The judgement has settled the issue, bringing clarity on a matter whose jurisprudence has otherwise been marked by chequered approaches. The key debate in this context has been this: how is the court expected to approach an application under section 11 of the Arbitration and Conciliation Act, 1996 when an objection regarding ..read more
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Stamping Out Uncertainty: Resolving the Conundrum of Unstamped Arbitration Agreements
IndiaCorpLaw » Contract Law
by Guest
7M ago
[Hrishikesh Goswami and Aryan Soni are 3rd year students at the Gujarat National Law University, Gandhinagar] The enforceability of arbitration clauses within inadequately stamped agreements has been a longstanding matter of legal scrutiny, with divergent opinions and decisions from various courts, including the Supreme Court. However, a significant resolution was achieved on December 13, 2023, when a seven-judge bench of the Supreme Court addressed this matter in the case titled In Re: The Interplay between arbitration agreements under the Arbitration and Conciliation Act, 1996, and the India ..read more
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Pre-Deposit Clauses in Arbitration Contracts: Analyzing the LombardiEngineering Case
IndiaCorpLaw » Contract Law
by Guest
8M ago
[Suyash Pandey is a third year B.A., LL.B. (Hons.) student at the National Law School of India University, Bangalore] Recently, the Supreme Court (‘SC’) in Lombardi Engineering Limited v. Uttarakhand Jal Vidyut Nigam Limited  has invoked Article 14 of the Constitution of India to test the validity of the pre-deposit arbitration agreement between Lombardi Engineering (‘LE’) and Uttarakhand Project Development and Construction Corporation Limited (‘UPDCC’). A pre-deposit arbitration agreement requires the claimant to deposit a certain percentage of the claimed amount to initiate arbitration ..read more
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Supreme Court Clarifies the Extent of Liability of Personal Guarantors under the IBC
IndiaCorpLaw » Contract Law
by Guest
8M ago
[Tanisha Gautam is a 4th year B.A. LL.B. (Hons.) student at the Institute of Law, Nirma University, Ahmedabad] The impact of a personal guarantee in relation to a corporate debtor undergoing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (the “Code”) has raised interesting legal issues. A personal guarantee refers to a promise made by an individual (the guarantor) to assume responsibility for the repayment of a debt in the event that the borrower (corporate debtor) fails to fulfil its obligation to a creditor. The recent pronouncement of the Supreme Court in Surendr ..read more
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An Endeavour to Understand the “Endeavours” Clause and its “Legal Transplant” in India
IndiaCorpLaw » Contract Law
by Guest
9M ago
[Shinoj Koshy and Radhika Malpani are with Luthra and Luthra Law Offices] Globalisation has led to a significant increase in the cross-border transactions and this in turn has led to “legal transplants” – a phenomenon where contracts memorializing cross-border transactions tend to include legal terms and concepts which are prevalent in other legal systems.  The term “legal transplant” was coined by Alan Watson in 1974 as the “moving of a rule or a system of law from one country to another, or from one people to another.” Simply put, it is transfer of rules, laws, legal principles and conc ..read more
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Revival of Time-Barred Debts
IndiaCorpLaw » Contract Law
by Guest
1y ago
[Mihir Modi is an Associate with PSL Advocates and Solicitors in Mumbai] According to the Limitation Act 1963 (‘the Limitation Act’), there is a set time limit for filing appeals and instituting lawsuits in various courts. The Limitation Act is based on the idea that there must be a strict time limit for bringing appropriate actions in the courts. In doing so, it protects only the diligent litigants, not those careless about their rights. The court does not show indulgence if a creditor seeks redress from the court after the stipulated statutory period of limitation has passed. Debt is covered ..read more
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