The Competition & Commercial Law Review

[Romit Nandan Sahai is a third-year law student at Vivekananda Institute of Professional Studies, GGSIPU] Introduction The Indian regime owing to its 'Closed-Economy' roots, housed several sectorial regulators to safeguard the economic interests of its people, and in pursuance of the same, vested its regulators with independence from interference as-well as competition related regulatory powers in their area of concern. Essentially, the sectorial regulators enjoyed a status o

[Kushal Tekriwal is a 4th year B.B.A. LL.B. (Hons.) student at Jindal Global Law School, Sonipat, India] The Insolvency and Bankruptcy Code (IBC), 2016 has transitioned itself from a regime of ‘debtor-in-possession’ to ‘creditor-in-possession'. The IBC brought a gradual shift repealing the earlier operating Presidency and Provincial Insolvency Act. One of its provision in nature of Section 238, provides for an overriding and overarching effect over laws being inconsistent wit

[Somya Luthra is a fourth-year law student at Institute of Law, Nirma University] Introduction The Securities and Exchange Board of India, over the years has strived towards strengthening the corporate governance framework, in which independent directors play a crucial role as they are seen as the ‘vanguards’ of minority shareholders and hold a ‘fiduciary’ position, which is paramount for corporate governance. Independent directors were appointed to ensure that the minority s

[Rama Priyadarshini Padhy is a third-year law student at National Law University, Odisha] The Competition Commission of India (“CCI”), in a recent order, had issued an interim order granting relief to the applicants in a double sworded digital market. On 9th March 2021, CCI in the said order, directed the major Online Travel Agency (“OTA”) platforms providing intermediation services for hotel booking in India such as Make My Trip (“MMT”) and Go-Ibibo (“Go”) (hereinafter, coll

[Deepanjali Jain and Prateek Khandelwal are third-year law student at Jindal Global Law University, Sonipat and Chanakya National Law University, Patna respectively] Introduction Many businesses were shut down or experienced tremendous loss owing to the COVID-19 pandemic. Amidst such chaos, the 2021 Supreme Court judgment, Lalit Kumar Jain v. Union of India, on personal guarantors to corporate debtors has worsened the situation a bit more. The said judgment verifies and appro

[Mr. Debanshu Mukherjee is the Co-founder of Vidhi Centre for Legal Policy and is working in the capacity of Practice Head of Insolvency Law, Corporate Law and Financial Regulation. He has a decade-over experience in commercial laws and has advised the Government of India on several legislative projects in this space. After graduating from Hidayatullah National Law University in 2008, he worked as an Associate at AZB & Partners. In 2013, he completed his BCL with distinction

[Aaryana Anand is a fourth-year student at Gujarat National Law University, Gandhinagar] In ‘The Hitchhiker’s Guide to the Galaxy’, a supercomputer was invented to estimate the answers to the “Ultimate Question of Life”, the Universe, and Everything. The computer was called Deep Thought, which took approximately 7.5 million years to answer the question, to which the answer ‘42’ was held to be highly unsatisfactory. There are two very important lessons to be learnt here. First

[Priyal Jain is a fourth-year student at Hidayatullah National Law University, Raipur] Ipso facto clauses have become a contentious topic for discussion as they manifest the necessity for a balance between contractual relations and Insolvency laws. These clauses have the capability of frustrating the objective of the Insolvency and Bankruptcy Code 2016 (IBC or Code) i.e. the rescue of corporate debtors (CD) through the restructuring process. But the importance of these ipso f