Tag: Depositories Act

The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 ("CIRP Regulations"), which provide for detailed provisions for effectively regulating the insolvency resolution process for corporate persons, have been amended vide the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024. ......

The High Court of Delhi, in the case of Smaash Leisure Ltd. vs. Ambience Comemrcial Developers Private Limited has held that a statement made by a party's counsel before the Arbitrator withdrawing objection to unilateral appointment would not suffice the requirement of 'express agreement' under Section 12 (5) of the Arbitration and Conciliation Act, 1996 ("Act"). ......

On May 12, 2022, the Supreme Court considered the interplay between the Indian Contract Act, 1872 (“Contract Act”) and the Depositories Act, 1996 (“Depositories Act”) in relation to the pledge of shares and held that the Contract Act does not recognise the sale of the pledged goods by the pawnee to himself in the event of default of payment by the pawnor. ......