VOLUME VII ISSUE I (2020)
(Theme:- Emerging Trends in Law Governing Investments in India)
by Arunima Shastri
The article focuses on the existing problems in setting up investment friendly arbitration clauses under the India’s Model Bilateral Investment Treaty 2015. At first, the article addresses the backdrop of implementing Model India BIT for safeguarding the foreign investors from unnecessary State sanctions and how arbitration clauses have been placed in order to settle inter-state investment disputes. Secondly, the article discusses the leading precedents highlighting that national courts in India, under Civil Procedure Code, have inherent jurisdiction over arbitral tribunals constituted under BIT. At last, the article concludes on the note that poor quality awards and autonomy of the national courts constitutes the main reason for deteriorated investment clients in the country.
by Rishabh Malaviya and Tanya Singh
This paper analyses the need for a permanent multilateral investment court in light of growing criticisms against the current framework of investor-state arbitration. The first part assesses the concerns raised against decision-makers and their alleged bias in favour of investors in investor-state arbitration and the inconsistency in the awards rendered by the tribunals. The second part critiques the viability of a shift from investor-state arbitration to an investment court which weighs the pros and cons of the bilateral investment court system proposed by the EU and lack of clarity regarding the seat of the proceedings and appeal mechanisms. The third part proposes a more nuanced approach to curing any crisis faced by the prevailing system of investor-state arbitration.
by Shanya Ruhela
The Author, in this Article, discusses about the “Basel Committee on Banking Supervision”, which is an informal committee based in Switzerland with the objective of formulating the best practices of banking worldwide. The Article analyses the regulatory regime of the committee and ponders upon the evolution of the standards as set by the committee in the past. Further, the Article analyzes the relationship of India with the committee and the implications of adopting the substantive standards of the committee on the Indian banking system.
by Ananya Shruti and Shashank Saurabh
In this article, Ananya Shruti and Shashank Saurabh provide an in-depth analysis on Alternative Investment Funds (AIF) in India. The article deals with the meaning, scope, evolution and advantages of AIF in India. Along with this, the authors have provided the legal and the regulatory framework for governing AIF, and its relationship with the existing norms of taxation and Foreign Direct Investment (FDI). In the article, the authors have also specifically analysed the impact of the AIFS on the Real Estate sector of the nation and lastly, provided certain recommendations for improving the regulatory framework governing AIF in the future.
by Navneet R. and Shubhi Pahwa
The article highlights the poor implementation of Bilateral Investment Treaty (BIT) obligations by India in numerous instances. At initial stages, the article inter-connects the relation between law and economy by suggesting an efficient legal environment for boosting the economy. Further, landmark precedent have been portrayed to showcase the effort of various High Courts and the Apex Court to establish investor friendly conditions in India. Lastly, the article concluded by suggesting that the liberal approach of the courts raises a number of constitutional issues. Moreover, delay in enforcement of contracts and dispute resolution constitutes the biggest hurdle for the growth of Indian economy.
by Raghav Pandey and Advaith Govind
This paper analyses the previously fragmented framework on insolvency laws and the reformed legal regime post the enactment of the Insolvency and Bankruptcy Code, 2016. The first section discusses the impact of IBC in improving the insolvency resolution practices and behaviours in the country over the past 3 years. The second section examines IBC’s role in pursuance of its objectives of improving the Ease of Doing Business, facilitating more investments for higher economic growth, and maximising the Value of Assets. The third element scrutinizes the numerous loopholes that the IBC regime suffers from which have to be effectively dealt with and reinforces the idea that a strict and effective insolvency law is one that protects an investor’s interests.
by Insaf Ahamad T.K. and Mathangi K.
The Article discusses the concept of Insider trading through an inter-disciplinary approach of Law and Economics. It focuses on the emerging trends of the Insider trading with a special focus on the Indian Regime. Further, it briefly discusses the rules and regulations enacted by Securities Exchange Board of India (SEBI) to curb the menace of Insider Trading in India. Lastly, it concludes on the point of critique where the Authors suggest that a much needed powers of investigation like wire-tapping and allocation of more resources needs to be granted to SEBI for efficient regulation of Insider trading in India.
by Binny Kumari
In this article, Binny Kumari, an L.L.M candidate at NALSAR University of Law, Hyderabad, has extensively analysed the viability of initiating proceedings against auditors at the Securities and Exchange Board of India (SEBI), in order to protect the interest of the investors. The article provides a detailed interpretation of Section 11(2)(b) of the SEBI Act, 1992, through a catena of judgments and orders given by the Supreme Court, various High Courts and the Securities Appellate Tribunal (SAT). Moreover, while focussing on the Price Warehouse & Co. order by the SAT, the author has also delved into whether such proceedings should be characterised as civil or quasi-criminal.