What is Force Majeure? According to Black’s Law Dictionary, Force Majeure clause is common clause in contract to protect the parties in the event that a part of the contract cannot be performed due to causes which are outside the control of the parties and could not be avoided by exercise of diligence and due…
Author: Deep Vaghela
Deep Vaghela is the proprietor of Deep Advisory Services.
He had worked with big corporates and has expertise in handling corporate litigations, public issues and also provide advice on Company Law, SEBI Law, M&A, Takeover, Insider Trading, FEMA, Taxation and other allied Corporate Laws.
He is Fellow member of the Institute of Company Secretaries of India (ICSI), Master of Business Administration (MBA) specializing in Finance and also pursuing Legum Baccalaureus (LLB).
Synopsis on relaxation brought in various compliance requirement by our Finance Minister
March 24, 2020 : To safeguard the interest of corporates and other person, today Union Finance Minister Nirmala Sitharaman announced various regulatory relief in view of complete shutdown all over India to control the spread of the highly contagious COVID-19. All relief and relaxations towards the laws are summarized below for ease of reference. However,…
Whether it is permissible for the High Court to appoint third party or an independent Arbitrator when the parties have mutually agreed for the procedure to appoint the designated arbitrator?
High Court cannot appoint an independent arbitrator without resorting to the procedure for appointment of an arbitrator which has been prescribed / inbuilt under the contract or agreement under as agreed by the parties. The Hon’ble Supreme Court in the matter of Union of India vs. Parmar Construction Company, Civil Appeal No(s). 3303 – 3319…
Whether the arbitration agreement stands discharged on acceptance of amount and signing no claim/discharge certificate?
No claim certificate is voluntary and free from coercion / undue influence and accordingly held that there is no live claim subsists, which is arbitrable after the discharge of the contract by accord and satisfaction. The Hon’ble Supreme Court in the matter of Union of India vs. Parmar Construction Company, Civil Appeal No(s). 3303 –…
Concept of Preferential Transaction
For a preference to become an offending one for the purpose of Section 43 of the Code, another essential and rather prime requirement is to be satisfied that such event, of giving preference, ought to have happened within and during the specified time, referred to as “relevant time”. The Hon’ble Supreme Court in the matter…
Can a non-signatory or third party be party to arbitration without their prior consent?
A third party or a non-signatory could be subjected to arbitration without his prior consent only in exceptional cases. The Hon’ble High Court of Delhi in the matter of RV Solutions Pvt. Ltd. vs. Ajay Kumar Dixit & Ors., CS(COMM) No. 745 of 2017, observed that the basic principle which must guide judicial decision making…
Attachment of Property under PMLA acquired prior to Criminal Activity
Property acquired prior to commission of scheduled offence i.e. criminal activity or introduction of PMLA cannot be attached unless property obtained or acquired from scheduled offence is held or taken outside the country. The Appellants in the matter of Seema Garg vs. The Deputy Director, Directorate of Enforcement, PMLA No. 1 of 2019 (O&M), raised…
Rights vs. Remedy
Party cannot sleep over its rights and participate in further proceedings and then approach the Court or the authority to rectify the error. The Hon’ble Bombay High Court in the matter of Antikeros Shipping Corporation vs. Adani Enterprises Limited, Civil Jurisdiction Appeal No. 533 of 2019 observed that where a Court takes wrong/erroneous seisin of…
Liability of Non-Executive Directors under Negotiable Instruments Act for cheque dishonour
Simply because a person is a Director of a Company, does not make him liable under the N.I. Act. To fasten vicarious liability under Section 141 of the Act on a person, at the material time, that person shall have been at the helm of affairs of the Company, one who actively looks after the…
Applicability of RTI for obtaining judgement copy from Courts
If any information can be accessed through the mechanism provided under another statute, then the provisions of the RTI Act cannot be resorted to as there is absence of the very basis for invoking the provisions of RTI Act. The Supreme Court in the matter of Chief Information Commissioner vs. High Court of Gujarat and…
