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CAM Disputes Team

The CAM Disputes team can be reached at cam.mumbai@cyrilshroff.com

claim for refund of advance amount

Introduction

Since the enactment of the Insolvency and Bankruptcy Code, 2016, (“IBC”), the Indian judiciary has been facing numerous interpretational challenges on various provisions of the IBC. While certain challenges have been put to rest by introducing amendments to the legislation, a larger bunch of the issues have been settled by interpretations adopted by the judiciary. The Courts and Tribunals, in interpreting the provisions of the IBC, have aspired to achieve the objective of the IBC, i.e. maximising the value of assets of the corporate debtor.Continue Reading Is Claim for Refund of Advance an ‘Operational Debt’? SC Comes to Rescue

Whatsapp Group Admin

The modern genesis of vicariously attributing culpability to a creator or administrator of a WhatsApp group for offensive, defamatory or objectionable content posted by a group member can be found in the recent decision of the High Court of Kerala on February 23, 2022, in the matter of Manual versus State of Kerala and another[1]. The High Court of Kerala has largely followed the bright line laid down by the High Court of Bombay[2], the High Court of Delhi[3] and the High Court of Madras[4] in their previous decisions on this subject. As a rule, most common law jurisdictions have traditionally applied vicarious liability by employing the common law doctrine of respondent superior. It is noteworthy that superior courts have also authoritatively held in successive judgments that vicarious criminal liability can be attributed only if a penal provision of such nature is specifically provided in the underlying statute.Continue Reading Can the admin of a WhatsApp group be held vicariously liable for an objectionable post by a group member?

Russia Ukraine Sanctions

Part 2[1] of the two-part blog discusses the Sanctions measures adopted globally against the Russian Government and its affiliates in response to its actions in Ukraine, with special emphasis on sanctions imposed by the US, UK and the EU, their impact on Indian businesses and key takeaways for businesses operating in sanctions regions.Continue Reading Analysing the Russia/Ukraine Sanctions & their Impact on Indian Businesses – Part 2

Russia Ukraine Sanctions

Introduction

Sanctions are political, diplomatic, or economic measures under International law, deployed by an International organisation or States against a State or States either to protect national security interests, or to protect international law, and defend against threats to international peace and security. Sanctions can be economic, targeting specific commodities, trades, etc., military, diplomatic, and also include travel bans, asset freezes, or arms embargoes.Continue Reading Analysing the Russia/Ukraine Sanctions & their Impact on Indian Businesses – Part 1

Liquidation Process

Introduction

The Insolvency and Bankruptcy Code, 2016 (“IBC”), an umbrella legislation, has successfully envisaged the process of speedy resolution or liquidation of a corporate entity and has proved to be a milestone in the Indian legal framework. By bringing IBC in force, the legislature has sought to maximise the value of the assets of the debtor, and to adopt a fair and transparent procedure for the disposition of the assets while balancing the interests of all stakeholders.Continue Reading Enforcement directorate under PMLA can no longer attach assets once liquidation process has been initiated under IBC

Product Liability

INTRODUCTION

‘Product Liability’ has been defined for the first time under the Consumer Protection Act, 2019 (“2019 Act”). As per the 2019 Act, product liability means the responsibility of a product manufacturer or product seller, or product service provider, to compensate for any harm caused to a consumer by a defective product manufactured or sold or by deficiency in services in relation to the product.[1]Continue Reading Product Liability under the Consumer Protection Act, 2019: An Overview

Duly Noted” Notice period for subsequent sale notice under Rule 8 and 9 of the Security Interest (Enforcement) Rules, 2002 relaxed by the Supreme Court.

Introduction

A three-judge bench of the Supreme Court, in S. Karthik & Ors. v. N. Subhash Chand Jain & Ors.[1](“S. Karthik”), recently relaxed the mandatory pre-requisites prescribed for sale of mortgaged assets under the Security Interest (Enforcement) Rules, 2002 (“The SI Rules”), under certain circumstances. It was held that when a sale notice under the SI Rules does not result in a sale due to reasons entirely attributable to the borrower, then the lender need not wait another 30 days before selling the mortgaged assets through a subsequent sale notice. This decision assumes significance as it is indicative of a lender friendly approach in monetising their security interests by adopting a flexible standard in interpreting the procedural prerequisites, rather than reading them pedantically. This blog examines the judgement in detail.Continue Reading “Duly Noted”: Notice period for subsequent sale notice under Rule 8 and 9 of the Security Interest (Enforcement) Rules, 2002 relaxed by the Supreme Court

Explaining the rudimentary principles of proving contradictions in a criminal trial

The craft of cross examination is often tested by the ingenuity of a trial lawyer in impeaching the credibility of a witness by extracting contradictions such that his previous testimony becomes unworthy of belief. The art of cross examination has always been deemed the surest test of truth and a better security than oath[1]. The method lies in introducing and proving an otherwise inadmissible evidence, with a masterful knowledge of the underlying laws of evidence. At a macro level, the broad contours of impeaching the credit of a witness is contemplated under Section 155 of the Evidence Act, 1872 (the “Act”), where under inter alia proving contradictions play a formidable part. Superior courts in India have time and again emphasised on the imperativeness of proving contradictions in consonance with the procedure prescribed under Section 145 the Act. Whilst, in a large measure, Section 145 of the Act is worded to take within its fold the procedure for proving contradictions in both criminal and civil trials by an adverse party, outlined below is an attempt at non-exhaustively analysing the procedure for extracting and proving contradictions in a criminal trial.Continue Reading Explaining the Rudimentary Principles of Proving Contradictions in a Criminal Trial

Corporate Defamation: A Perspective on Analyst Reports

In 2008, Bank Atlantic, a Florida based bank, sued a prominent Wall Street analyst over a report on potential bank failures titled “Who’s Next?” The Bank stated that the analyst had defamed the bank by suggesting that it might fail. Bank Atlantic had previously sued ABC over a news report in 1991. In 2009, Hertz Global Holdings Inc., sued an analyst for defamation over a report that Hertz claimed, suggests that the world’s largest car rental company could go bankrupt.Continue Reading Corporate Defamation: A Perspective on Analyst Reports