Food and Safety Standards Authority of India, the autonomous body that regulates food safety and regulations in India, published the Food Safety and Standards (Recovery and Distribution of Surplus Food) Regulations, 2019 (“the Regulation). The Regulation streamlines and specifies the responsibilities of food donors, food banks and food distribution organizations that are engaged in distributing surplus food to any person free of cost. The parties have to comply with these regulations by 01.07.2020. The Regulation…

“That apart when one is required to judge the case of another, justice should not only be done, but it should also seem   to   be   done   is   the   bottom   line”, explained the Supreme Court of India in the matter of Vinod Bhaiyalal Jain & Ors. Versus Wadhwani Parmeshwari Cold Storage Pvt. Ltd.. The Supreme Court in the mentioned matter has dealt with and cleared the air over objection to an arbitrator on the perception of…

Every financial institutions want someone to stand guarantee to the loan they are about to provide. One of such common ways is that a subsidiary company stands as a guarantor for the parent company against the loan obtained by the latter. The question now arises is whether a Foreign Creditor can initiate Corporate Insolvency Resolution Process against Indian Corporate Guarantor? Before delving into the question it is imperative to speak about the position of a…

The Arbitration and Conciliation Act, 1996 (“Act”) under Section 34(3) provides for a specific statutory limitation of filing an application for setting aside of an arbitral award. Section 34(3) provides that an application for setting aside an arbitral award may not be made after the lapse of three months (90 days) from the date of receipt of arbitral award. Further the proviso to Section 34(3) provides that if the Court is satisfied that the applicant…

The Supreme Court in the matter of Anilkumar Jinabhai Patel (D) Thr. Lrs. vs. Pravinchandra Jinabhai Patel and Ors  by upholding the decision of the High Court of Judicature at Bombay Bench at Aurangabad has reaffirmed that the limitation to file an application for setting aside of an arbitral award begins from the date on which the signed copy of the award is acknowledged to have been received by the aggrieved party. The Appellant and Respondent,…

The bench of Justice R. F. Nariman and Justice Navin Sinha, vide their judgement dated 23.01.2018 in the matter of M/s Indian Farmers Fertilizer Co-operative Limited v M/s Bhadra Products, thrown light on two questions, (a) whether an award delivered by an Arbitrator, which decides the issue of limitation, can be said to be an interim award, and (b) whether such interim award can then be set aside under Section 34 of the Arbitration and…

The judgment was pursuant to an appeal filed by the Corporate Debtor (Neelkanth Township & Construction Pvt. Ltd.) against the order of the National Company Law Tribunal, Mumbai Bench (“NCLT”) directing the commencement of insolvency proceedings against the Financial Creditor. The NCLAT has cleared the answer to several grounds, predominantly dealt with the following: Is a petition for initiation of Corporate Insolvency Resolution process barred by time i.e. does the Limitation Act, 1963, apply to…