Legal 60

AZB & Partners advised InCred Tech Services on INR 30 crore investment by Sabre Partners The leading Indian law firm, AZB & Partners acted for InCred Tech Services in relation to an investment of INR 30 crore by Sabre Partners, in exchange for an equity stake of approximately 20%. The AZB & Partners team advising

Calcutta High Court Holds Pre-Liquidation Municipal Dues Cannot Be Fastened On Auction Purchaser; ‘As Is Where Is’ Clause Subordinate To IBC Introduction The Calcutta High Court has ruled that municipal dues pertaining to a corporate debtor undergoing liquidation under the Insolvency and Bankruptcy Code (IBC) cannot be independently enforced against an auction purchaser. The Court

Trilegal advised Signature Global on ~INR 1,283 crore strategic investment by RMZ for Gurugram mixed-use project The leading Indian law firm, Trilegal, advised Signature Global (India) Limited and its wholly owned subsidiary, Gurugram Commercity Limited, on a ~INR 1,283 crore purchase and subscription of shares by RMZ (Millennia Realtors Private Limited). The investment results in

Cyril Amarchand Mangaldas advised Inox Clean Energy Limited and SkyPower Southeast Asia Holdings 2 Ltd. on sale of SkyPower Services MENA Ltd. The leading Indian law firm, Cyril Amarchand Mangaldas (CAM) advised Inox Clean Energy Limited (“Buyer”) and SkyPower Group, including CIM Infrastructure Fund, LP (“Seller”), in relation to the sale of 100% of the

NCLT Mumbai Admits CIRP Against Reliance Ornatus Guarantor; Holds ₹133.88 Crore OCD Liability Not Contingent Introduction The National Company Law Tribunal, Mumbai Bench, has admitted a Section 7 application filed by Creative Ashtech Engineering Projects Private Limited against Reliance Ornatus Enterprises and Ventures Private Limited (now ROEVPL Ventures Private Limited), holding that a financial debt

NCLAT Sets Aside NCLT Order In Encore ARC Case; Says COVID Limitation Directions & Section 18 Acknowledgment Overlooked Introduction The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the NCLT Mumbai Bench which had dismissed a Section 7 application filed by Encore Asset Reconstruction Company Pvt Ltd against Pandhe Constructions Pvt

NCLT Mumbai Rules Pre-CIRP Statutory Liens Survive Moratorium; RP Cannot Seek Removal Of Lawfully Created Attachments Introduction The National Company Law Tribunal, Mumbai Bench, has ruled that a Resolution Professional (RP) cannot seek removal of statutory attachments or liens that were validly created prior to the commencement of Corporate Insolvency Resolution Process (CIRP). The Bench

In a new guest post, Rajesh Kumar and Akanksha Badika discuss Section 2(q) and the relevance of the word “live” in defining what legally constitutes performance. By applying the statutory rules of interpretation, they conclude that the qualifier “live” added after the 2012 amendments limits the scope of what constitutes performance to live performances and

Delhi High Court Restores 8 Trademarks; Holds Expiry Notice To Revoked Agent Not Valid Compliance Under Section 25(3) Introduction The Delhi High Court has allowed renewal of eight trademarks after holding that expiry notices sent to an unauthorised agent do not amount to compliance with Section 25(3) of the Trade Marks Act, 1999. The Court

Recently, a division bench of the Delhi High Court refused to intervene with an interlocutory order restraining Canva, from using its “Present and Record” feature. Priyam discusses that the order side-steps the appellant-defendant’s submission on section 3(k), relying on statutory presumption of validity. Priyam is a third-year student at NLSIU, Bengaluru and is deeply interested