Photo of Shaneen Parikh

Partner in the Dispute Resolution Team at the Mumbai office of Cyril Amarchand Mangaldas. Shaneen focuses on dispute resolution, including arbitration (both domestic and international), as well as corporate and commercial litigation. She has appeared in arbitrations, various regulatory forums and courts, including High Courts and the Supreme Court, across the country. Shaneen has also assisted a leading chamber of commerce in drafting its rules of arbitration, conciliation and mediation. She can be reached at shaneen.parikh@cyrilshroff.com

The Union Cabinet recently issued a press release for the Arbitration and Conciliation (Amendment) Bill, 2018 (“2018 Bill”). The amendments which, when passed will apply to the Arbitration and Conciliation Act, 1996 (“Act”) are pursuant to the Srikrishna Committee Report[1] released in July, 2017 (“Report”), recommending further amendments on the back of the 2015 amendments, primarily to improve on or clarify various provisions.

Key amendments approved include the following:

  • Arbitration Council of India

The Report recommended the creation of an independent body to accredit arbitral institutions and arbitrators as a number of stakeholders interviewed were disenchanted with the existing arbitral facilities in India. The recommendation has been accepted and an independent body will be set up, namely, the Arbitration Council of India to enable formal evaluation and accreditation. This Council will frame norms for alternate dispute resolution and evolve professional guidelines. This is a positive step to ensure the quality of arbitral institutions. Though India has several arbitral institutions, few apart from the Mumbai Centre for International Arbitration are recognized as having the expertise to administer multi-party international arbitrations.

Continue Reading The Supreme Court on the 2015 Amendments and the Cabinet on the 2018 Arbitration Amendments – Good for India?

Image credit: Scroll.in, September 26, 2017

This is the fourth blog piece in our series entitled “Those Were the Days”, which is published monthly. We hope you enjoy reading this as much as we have enjoyed putting this together.


The world is becoming corporatised, and the time of the business owner living over his little shop are well-nigh over. The world is also becoming smaller and, as it does, a business’s reach spreads across multiple jurisdictions and through multiple subsidiary or group companies.

In this age of corporatisation, most jurisdictions recognise the concept of a company as a separate juristic person, with an identity distinct and independent of its shareholders, members or directors. This corporate existence separates a company’s identity from that of its promoters or shareholders. It enables the company to contract in its own name, with its shareholders and third parties, to acquire and hold property in its own name, and to sue and be sued in its own name. A company has perpetual succession; its life is not co-dependent with that of its shareholders and it remains in existence irrespective of any change in its members, until it is dissolved by liquidation. The shareholders of a company are not identified with the company and cannot be held personally liable for acts undertaken by, or liabilities of, the company.

This independence or distinction is not a new concept. In the late 19th Century, the judgment in the classic case of Salomon v. Salomon[1] was passed, ruling that a company is a separate legal entity distinct from its members and so insulating Mr. Salomon, the founder of A. Salomon and Company, Ltd., from personal liability to the creditors of the company he founded.

Continue Reading LIC v. Escorts and Beyond – Lifting the Corporate Veil