The Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020
A. Introduction: Almost two months after first announcing the possibility of suspending proceedings under the Insolvency and Bankruptcy Code, 2016 (“Code”), the government has finally promulgated the above Ordinance on June 5, 2020 laying to rest all the suspense and rumours that the premature announcement had created. B. Salient Features: (i) No new applications under
Read MoreRegulatory Update: Karnataka Land Reforms Act – Direct Permission To Industries To Purchase Agricultural Land
A. Introduction: On April 27, 2020, the State of Karnataka enacted an amendment (“Amendment Act”) to Section 109 of the Karnataka Land Reforms Act,1961 (“KLR Act”). To those unaware of land laws in Karnataka, Section 109 of the KLR Act provides for certain exemptions from the provisions of Sections 63, 79A, 79B and 80 i.e.
Read MoreDigital Execution Of Documents In A Post-Lockdown Era – Indian Law And Practice
A. Introduction: The Covid-induced lockdowns across India (and attendant restrictions) have made it virtually impossible to sign documents in physical form. This article examines whether, as an alternative, our existing ecosystem of digital signatures and e-filings together with an enabling legal framework offer a credible electronic alternative to physical deal executions in M&A and financing
Read MoreRegulatory Update: Karnataka Town And Country Planning Act, 1961 – Phased Layout Development
In a welcome step to help real estate developers in the state of Karnataka for plotted and villa developers, the Karnataka Government has amended the Karnataka Town and Country Planning Act, 1961 by way of an ordinance on May 22, 2020 (“Ordinance”) bringing out new and progressive guidelines for development of layouts in the state
Read More‘Covid’ Notifications Of The Ministry Of Finance On Force Majeure And Performance Security – Implications For The Infrastructure Sector
A. Introduction: Under Part 1 of the Government of India’s (GoI) comprehensive Covid relief package (Atmanirbhar Bharat Abhiyan) (“Part 1”) dated 13 May 2020, GoI announced a handful of overarching policy measures promising relief to stressed private contractors engaged in public sector/infrastructure projects. As per GoI, the relief measures will apply to projects awarded by
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