Data Localization & The New India Data Protection Regime
Introduction & Background The opponents of the new Personal Data Protection Bill, 2019 (hereinafter referred to as the “Bill”) see it as an almost Orwellian attempt to subvert the privacy of citizens through the means of technology and digital data. The Government has been given wide powers when it comes to […]
Omission of Regulation 26(2): A double-edged sword
This piece takes a look at Regulation 26(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 hereinafter referred to as ‘the Regulations’. Pre-amendment, sub-regulation 2 of Regulation 26 read as follows:- “(2) Once a vote on a resolution is cast by a […]
Resolution plan under IBC: An albatross around the resolution applicant’s neck
The Insolvency and Bankruptcy Code, 2016 (“the Code”) aims to resolve the woes of stressed businesses (“Corporate Debtors”) by putting them through a corporate insolvency resolution process (“CIRP”) and transferring them as ‘going concerns’ to persons/entities (“Resolution Applicants”) willing to take over their management and assets, and service their debts. The […]
Consumer Protection Act, 2019: ‘Change of forum’ and its effect on fresh and pending cases
Introduction The Consumer Protection Act, 2019 (“New Act”) received the President’s assent on August 9, 2019 and has replaced the Consumer Protection Act, 1986 (“Old Act”). Most of the important sections have been notified[1] with effect from July 20, 2020 marking the beginning of the New Act and making it […]
SC upholds IBC but the battle between Financial and Operational Creditors rages on
All was well before the National Company Law Appellate Tribunal, New Delhi [NCLAT] pronounced its decision in Binani Industries[1], wherein it held that “the ‘I&B Code’ or the Regulations framed by the Insolvency and Bankruptcy Board of India do not prescribe differential treatment between the similarly situated ‘Operational Creditors’ or […]