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Soumya Dasgupta

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Principal Associate in the Dispute Resolution practice at the Delhi-NCR office of Cyril Amarchand Mangaldas. Soumya has significant experience in advising and representing domestic and international clients in India-centric civil and commercial disputes, white collar crime, shareholders disputes, employment disputes, intellectual property matters, regulatory affairs, and arbitration, as well as disputes with cross-border implications. He can be reached at soumya.dasgupta@cyrilshroff.com

‘Fair Use’ in the Age of AI

The advent of large language models (“LLMs”) such as OpenAI’s GPT and Google’s Gemini has revolutionised how content is created, consumed, and commercialised. These generative AI systems, trained on massive volumes of publicly available data, can now generate human-like expressions at unprecedented pace and scale. While such technological advances are to be welcomed for their potential to enhance human capacity and to contribute to the progress of knowledge, they also raise fundamental yet profound questions about the extent to which the law is equipped to regulate such an foreseeable development.Continue Reading ‘Fair Use’ in the Age of AI

Fintech

The end of 2021 and the beginning of 2022 has come bearing gifts for the financial technology (“Fintech”) sector particularly for the lending space. The Reserve Bank of India (“RBI”) had amended the Credit Information Companies Regulations, 2006 (“Regulations”) on November 10, 2021 vide the Credit Information Companies (Amendment) Regulations, 2021  (“Amendment”)[1] – the first amendment since 2017 – expanding the scope of entities falling within the definition of ‘specified users’ under Regulation 3 to include “an entity engaged in the processing of information, for the support or benefit of credit institutions, and satisfying the criteria laid down by the Reserve Bank from time to time.”Continue Reading FIG Paper (No. 9) – RBI Press Release on ‘Specified Users’ – New Year Relief for Fintech Companies

Emergency Awards passed in Foreign-seated Arbitration - Enforceable or not

A recent award passed by an Emergency Arbitrator at the instance of Amazon.com NV Investment Holdings in relation to Reliance Retail Ventures Limited’s (RRVL) ongoing acquisition of Future Group’s retail, wholesale, logistics, and warehousing arm, has once again brought into sharp focus a gap in India’s aspirations to improve Ease of Doing Business in the country and create a conducive environment for enforcement of awards passed in foreign seated arbitrations.

Although the said Emergency Award directed Future Group to maintain status quo with regard to the transaction[1], recent news reports have confirmed that Future Group has already approached the Hon’ble Delhi High Court by way of a suit seeking to restrain Amazon from preventing the ₹24,713 crore deal from going through.[2]
Continue Reading Emergency Awards passed in Foreign-seated Arbitration: Enforceable or not ?