Insolvency cannot be triggered when arbitral award against corporate debtor is under challenge

Mini Summary The Supreme Court while placing its reliance on the earlier judgement of Mobilox Innovations Private Limited v. Kirusa Software Private Limited, has held that an insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, cannot be triggered in respect of an operational debt where an arbitral award has been passed against the operational... Continue Reading →

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“The Fate of Being Determinable”

ABC (“Purchaser”); and XYZ (“Contractor”). Scope of Project          SUPPLY; INSTALL; TESTING; and COMMISSION Contract terminated for no specific reason Clause –Termination of Contract at Purchaser’s Initiative. "ABC reserves the right to termination the contract either in part or in full due to the reasons other than specified herein. ABC shall in such an event give 15... Continue Reading →

LexisNexis expands Lexis® Practical Guidance portfolio with new offering addressing Contract and Contract Clause Bank

We are pleased to announce that we have expanded Lexis® Practical Guidance portfolio with one more module  - Commercial Contracts.      Drafting vetting and negotiations is the most time consuming activity for any in-house counsel. In fact, maximum personnel are dedicated for this activity only. Reading a contract line by line and modifying it... Continue Reading →

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