While capturing the Indian updates, we believe it is imperative to discuss some of the recent decisions by the Supreme Court such as Balance Sheets can amount to acknowledgement of debts under Section 18 of the Limitation Act, 1963, Issue of Novation of Contract cannot be considered in an application under Section 11 of the Arbitration Act. We also highlight several significant developments in the field of Company Law and Insolvency and Bankruptcy Code, such as, Promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance 2021 to allow pre-packaged insolvency for MSME's, Spending CSR Funds for Covid facilities to be considered a CSR activity, and many others.
This issue also highlights various other critical and important decisions delivered in the domain of Company Law and Insolvency and Bankruptcy, Constitution, Intellectual Property, Fintech, and many more.
We would also like to take this opportunity to share with you an interesting piece by our in-house experts on "Drafting Right of First Refusal Clauses: Legality, Issues and Concerns". In the piece, we take cue from certain cases which have dealt with ROFR clauses and discuss the legality of such clauses, their ingredients and guidelines for drafting of ROFR clauses.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.