Photo of Yash J.

Yash J.

Subscribe to Yash J.'s Posts

Associate in the Real Estate practice at Noida office of Cyril Amarchand Mangaldas. Yash advises on a broad range of issues vis-à-vis the Real Estate Sector in India. He can be reached at yash.j@cyrilshroff.com

Real Estate

Introduction:

The interplay between writ jurisdiction of high courts and private contracts involving the State or the instrumentalities of the State becomes complex when a party to the contract seeks a contractual relief from the high courts by way of a writ petition. The nuances are further enhanced based on the specific facts and circumstances of the case, the nature of parties involved, the nature of rights and obligations involved, and so on.Continue Reading Can Article 226 be Invoked to Amend Terms of a Lease Deed? SC Says No!

LSF – The Journey

The uniform ‘late submission fee’ (“LSF”) is a relatively new concept in the Indian exchange control regime. The Foreign Exchange Management Act, 1999 (“FEMA”), as originally introduced by the legislature, did not envisage the concept of LSF. Resolving a delay in reporting of equity or debt transactions under FEMA would necessarily require compounding of offences before the Reserve Bank of India (“RBI”). Given that compounding is not the most time efficient or simple process, it implied that even for insignificant or genuine delays, parties would have to undergo several steps, thus making the system clogged with late filings and filings becoming more cumbersome than they needed to be.Continue Reading Uniformisation of Late Submission Fee under FEMA: A One Stop Shop?

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