The issue in respect of stamping of arbitration agreement has been a contentious one, on which the Supreme Court has deliberated over across various judgments.
The Reserve Bank of India (RBI) released a circular dated 19 December 2023 (Circular) which attempts to address the concerns of indirect loan exposure of REs to its stressed borrowers.
On 24 December 2023, the Telecommunications Act, 2023 (Act) was published in the official gazette after the bill being passed by both houses of the Parliament and receiving the Presidential assent.
The Securities and Exchange Board of India released a consultation paper dated 28 November 2023, proposing revisions to revamp the existing regulatory framework for Special Situation Funds (SSFs): a sub-category of Category I Alternative Investment Funds that invest in stressed assets.
In a judgment with far reaching consequences, a five-judge constitutional bench of the Supreme Court of India (Court) in the matter of Cox and Kings Ltd. v. SAP India Pvt. Ltd. & Anr., 2023 SCC OnLine SC 1634 provided clarity on the contours and application of the Group of Companies doctrine under the extant arbitration laws of the country
On 18 December 2023, the Government of India tabled the Telecommunications Bill, 2023 (Bill) before the lower house of the Parliament. The Bill promises a tectonic shift in the legal framework relating to telecommunications in India, by demolishing more than a century old Indian Telegraph Act, 1885 (Telegraph Act) and other laws that have so far formed the basis of governing the telecom space in India.
This ERGO intends to incapsulate recent clarification issued by Central Board of Indirect Tax & Customs (CBIC) with respect to taxability of personal and corporate guarantee provided to a Company under Goods and Services Tax (GST) law.
As per news reports, the bill for amending sections 109 and 110 of the CGST Act in line with the recommendations of the GST Council in its 52nd meeting pertaining to establishment and functioning of GST Appellate Tribunal (GSTAT) benches are likely to be introduced and passed in the ongoing winter session of the Parliament. Earlier, the Central Government vide Notification No. S.O. 4073(E) dated 14 September 2023 had constituted 31 benches of GSTAT.
In its recent decision in the matter of Dilip B. Jiwrajka v. Union of India & Ors [2023 SCC OnLine SC 1530], a three judge bench of the Hon’ble Supreme Court dismissed a batch of 384 writ petitions filed under Article 32 of the Constitution assailing the constitutionality of Sections 95, 96, 97, 99 and 100 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) pertaining to initiation of insolvency proceedings against individuals and partnership firms codified in Part III of the IBC.
