US President Joe Biden signed the Foreign Extortion Prevention Act in December 2023 (“FEPA”), a federal criminal offense creating criminal liability on foreign officials who demand or accept bribes thus acting as a concomitant legislation to the Foreign Corrupt Practices Act
Cyril Amarchand Mangaldas
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How to ensure fair distribution of assets in an estate plan?
The following article was first published in the Mint newspaper on 28th February, 2024. The same was written by our Private Client team at Cyril Amarchand Mangaldas, who frequently publish their comments and opinions in the Mint. The online version…
Obviating Hurdles for Swifter Execution of Arbitral Awards
Context
In India, execution of decrees is governed by the Code of Civil Procedure, 1908 (‘CPC’), and execution of arbitration awards is governed by the Arbitration and Conciliation Act, 1996 (‘1996 Act’), and the CPC. For the purposes of enforcement,…
Big win for PSBs: SC upholds arbitral award awarding damages for breach of substitution agreement, asks state agency to compensate lenders in full
The Hon’ble Supreme Court vide an order dated December 01, 2023, dismissed Special Leave Petition (Civil) No. 19675 of 2023 (“SLP”), filed by Haryana State Industrial and Infrastructure Development Corporation (“HSIIDC”), a state government agency, against concurrent judgments of the…
Jurisprudence around Grant of Interim Injunction in Defamation Suits in India
Introduction:
In civil proceedings in India, the standard for grant of interim injunction, is well established. The aggrieved party, seeking an injunction, must establish a three-part test to the satisfaction of a court of law, that is, (i) a prima…
Harshness of Consequences not a Ground to Read-Down a Provision: Supreme Court
Can Directors Be Made Parties to Arbitration Proceedings Following the Underlying Rationale of Group of Companies Doctrine? Delhi High Court Explains
Introduction
Agreement to arbitrate – through a clause in a master or a separate agreement – forms the crux of arbitration. Processes like arbitration depend entirely on parties’ written consent to arbitration agreements. Great importance is attached to party autonomy…
Pending Section 37 Appeal under Arbitration Act: Not a Legitimate Ground for Entertaining Belated Claim under IBC
The Hon’ble Supreme Court in the landmark RPS Infrastructure Ltd vs. Mukul Sharma[1] judgement, once again delved into the issue of claims being made beyond the statutorily prescribed timelines in a Corporate Insolvency Resolution Process (“CIRP”). In this case,…
Tests “Public Servants” must pass to claim protection under Section 197 of Cr.P.C. and is there a silver lining?
An Analysis of Limitation for Appointment of Arbitrator Under Section 11 of the Arbitration & Conciliation Act, 1996
Introduction
In order to foster quick resolution, efficiency and flexibility are the cornerstones of arbitration. The Arbitration and Conciliation Act, 1996 (“the Act”) [1], provides for strict limitations at most stages of the arbitral process. Naturally, Section 11 with its…