Rule of Construction/Interpretation of Works Contracts vis-à-vis Works Executed Beyond the Prescribed Time Period: An Indian Legal Perspective
Introduction The intricate nature of Works Contracts often leads to disputes, and the resolution of these disputes requires a deep understanding of the principles of contract interpretation. In India, the law governing Works Contracts is primarily derived from the Indian Contract Act, 1872 (ICA), supplemented by various judgments pronounced by the Supreme Court (SC) and […]
Stay Of Execution Of Unconditional Bank Guarantees In India: An Emphasis on Injunction Grants
Introduction Unconditional Bank Guarantees, serve as an integral financial instrument in commercial transactions, offering an assurance of payment to the beneficiary, regardless of the contract’s underlying disputes. However, the enforcement of this instrument is not absolute, and Indian courts have acknowledged certain instances where stays on the execution of unconditional Bank Guarantees may be granted. […]
Confidentiality of Arbitrations in India: An Analysis of Various Facets
IntroductionArbitration serves as an alternative dispute resolution mechanism for business entities and individuals seeking to resolve their disputes out of court. It is an effective tool that provides a faster procedure, more flexibility, and confidentiality in comparison to conventional court proceedings. However, the concept of confidentiality in arbitration, specifically in relation to arbitration awards, is […]
Purchaser’s Liability Towards Prior Encumbrances Over A Property Auctioned Under SARFAESI Act, 2002
INTRODUCTION The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the SARFAESI Act) was passed in the year 2002 with the primary objective of developing an efficient process for rapid recovery of non-performing assets of banks and financial institutions. In furtherance of this, it allows the banks […]
Pioneer Urban Land and Infrastructure Ltd. v. Union of India: A Case Commentary
INTRODUCTION The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the Code) allows two classes of creditors, namely, operational and financial, to apply for insolvency of a corporate debtor in case of default in payment. The Code as enacted did not specifically include or exclude allottees/homebuyers of real estate projects in either of the […]
Provisional Application of Energy Chapter Treaty: In Light of Yukos Arbitral Awards
INTRODUCTION Provisional Application of treaties is derived from Article 25 of the Vienna Convention on the Law of Treaties, 1969 (VCLT). According to it, a treaty may be provisionally applicable prior to its definitive entry into force if: (a) the treaty itself provides for its provisional application or (b) if the states negotiating the treaty […]
Privacy in the time of Terrorism
“Be kind, you are being watched” On the way back to work, I noticed this intriguing statement, “Be kind, you are being watched” below a CCTV camera at the entrance of my apartment. While I must have passed by a number of such statements and CCTV cameras around the city, none of these bothered me […]
Appointment of Arbitrator under Section 11(6) of the Arbitration & Conciliation (Amendment) Act, 2015
Introduction Parties to any relationship of a contractual nature often resort to arbitration for adjudication of their disputes. They do so, since, resorting to arbitration allows them, among other things, to decide on an arbitrator of their own choice. Choosing an arbitrator is a significant step towards successful outcome of the arbitration proceedings as the […]
