Do Judges have “Skin in the Game”?

Recently, I read Nassim Nicholas Taleb’s Book, “SKIN IN THE GAME”.  It made me think about the applicability of the commonsensical  “skin in the game” principle to the Indian judiciary. The “skin in the game” principle literally means that one should bear the consequences of one’s action/advise. In the words of Taleb, “If you haveContinue reading “Do Judges have “Skin in the Game”?”

Non -implementation of Resolution Plan: remedies available to the Creditors

To liquidate or not to liquidate: In most cases, the Creditors stand to gain more than the liquidation value when the Resolution Plan is implemented making the option of seeking liquidation of the corporate debtor impractical. Thus, the other options available to a creditor are: Invocation of performance security.  Seeking Directions from the NCLT. ContemptContinue reading “Non -implementation of Resolution Plan: remedies available to the Creditors”

Notes from Seth Godin’s “Linchpin”

The message that Seth Godin tries to deliver in this piece of “art” is that the time of being a cog in the wheel in an assembly line is over. To thrive in today’s world, you need to be an artist/a linchpin/indispensable at work.  The important lessons from the Book are: 1. Emotional Labour:  AsContinue reading “Notes from Seth Godin’s “Linchpin””

Supreme Court overrules United India Insurance Co v. Antique Art Exports Pvt. Ltd.

In my earlier post, I had pointed out that the Supreme Court in United India Insurance Co. v. Antique Art Exports Pvt Ltd., had almost overruled the interpretation of Section 11(6A) adopted by a coordinate Bench in  Duro Felguera S.A. Vs. Gangavaram Port Limited . The Bench in Duro Felguera had held that a courtContinue reading “Supreme Court overrules United India Insurance Co v. Antique Art Exports Pvt. Ltd.”

Arbitrability of claims after issuing a No Claim Certificate in Construction Contracts

In the construction industry, especially where contracts are awarded by the Public Sector Utilities in India (“PSUs”), it is a prevalent practice to insist for a No-claim certificate (“NOC”) and/or No due Certificate from the Contractors before clearing the final bill/payment. The Contractors, who are rarely in a bargaining position and always in urgent needContinue reading “Arbitrability of claims after issuing a No Claim Certificate in Construction Contracts”

Is the Supreme Court in Ssangyong, wrong?

“Equity thus depending, essentially, upon the particular circumstances of each individual case, there can be no established rules and fixed precepts of equity laid down, without destroying its very essence, and reducing it to a positive law. And, on the other hand, the liberty of considering all cases in an equitable light must not beContinue reading “Is the Supreme Court in Ssangyong, wrong?”

The Conundrum: Whether the Amendment to Arbitration and Conciliation act, 1996 is prospective or retrospective?

                The Arbitration and Conciliation Act, 1996 (“Act”) was amended on 31.12.2015 (“the Amendment”) with the laudable objective of making the arbitration process “more user-friendly, cost effective and lead to expeditious disposal of cases.” However, the Amendment has raised several red flags. The primary issue plaguing the litigants and Courts is the applicability ofContinue reading “The Conundrum: Whether the Amendment to Arbitration and Conciliation act, 1996 is prospective or retrospective?”

Can the Consumer Forum refer consumer disputes to Arbitration?

Under Section 8 of the Arbitration and Conciliation Act, 1996 (hereinafter, “the Arbitration Act”), a “judicial authority” before whom a dispute has been brought, has to refer the matter to arbitration if the said dispute is the subject matter of an arbitration agreement. Now, the question that arises for consideration is whether the Consumer ForumContinue reading “Can the Consumer Forum refer consumer disputes to Arbitration?”