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Insights
Perspectives from the practice.
MSME Act vs. Arbitration Act: Conundrum Resolved
The Supreme Court, in Gujarat State Civil Supplies Corporation Ltd. v. Mahakali Foods Pvt. Ltd., has laid to rest the grey areas pertaining to the applicability of the MSME Development Act, 2006 against the Arbitration and Conciliation Act, 1996. The judgment clarifies the interplay between the two statutes and the powers of the MSME Facilitation Council.
Group of Companies Doctrine: Re-affirmed
The Supreme Court in Oil and Natural Gas Corporation Ltd. v. M/s Discovery Enterprises Pvt. Ltd. has re-emphasised the Group of Companies Doctrine, holding that a non-signatory may be bound by an arbitration agreement if it is the alter ego of a party which executed it. The judgment concretises the boundaries of a concept that has evolved rapidly in Indian arbitration jurisprudence over the past decade.
Model Tenancy Act, 2021
The Model Tenancy Act, 2021 is a progressive step in matters related to rent and rental housing in the Indian real estate sector. It seeks to promote rental housing and balance the rights of tenants and property owners through provisions covering tenancy agreements, security deposits, rent authorities, and dispute resolution.
Doors Open for NCLT Proceedings Against Personal Guarantors of Corporate Debtors
The Supreme Court in Lalit Kumar Jain v. Union of India has upheld a Central Government notification amending the Insolvency and Bankruptcy Code, allowing creditors to initiate proceedings against personal guarantors of corporate debtors before the NCLT. The judgment strengthens the corporate insolvency process by enabling a common adjudicating forum for the debtor and their personal guarantor.
Cost Implication to Employers Due to the Code on Wages, 2019
The recent amendments to labour legislation through the amalgamation of 29 legislations into four codes have brought critical cost implications for employers. The redefined term wages under the Code on Wages, 2019 requires most companies to restructure their salary bifurcation, particularly in light of the 50 percent threshold provided in the definition.
Home-buyers Not Bound by One-sided Contractual Terms
In Ireo Grace Realtech Pvt. Ltd. v. Abhishek Khanna, the Supreme Court held that incorporation of one-sided and unreasonable clauses in an Apartment Buyer's Agreement constitutes an unfair trade practice under the Consumer Protection Act. The judgment provides significant relief to home-buyers navigating disputes with developers over delayed possession and refunds.
An Overview of FIDIC Contracts
FIDIC contracts are the global standard for construction and engineering projects, designed to manage risks, define responsibilities, and support successful project delivery. This overview covers the main FIDIC contract types and their relevance in the Indian market.
Structure of a FIDIC Contract
The FIDIC suite of contracts has become a global standard for construction and engineering projects. What makes FIDIC contracts effective is not only their substantive provisions but their highly structured, modular drafting approach. This piece breaks down the architecture of a typical FIDIC contract.