Litigation Update July 2023

Pioneer Legal - Litigation Update July 2023

In Homevista Decor & Furnishing Pvt. Ltd. & Anr. v. Connect Residuary Pvt. Ltd, the Calcutta High Court departed from the views expressed by three High Courts and ruled that the designated venue of the arbitration cannot be the seat of the arbitration if parties have conferred exclusive jurisdiction elsewhere. In view of conflicting decisions […]

RBI Newsletter June 2023

Pioneer Legal - RBI Newsletter June 2023

Our RBI Newsletter for the month of June 2023 gives summarised updates regarding the latest regulatory developments. Read the full newsletter below and for more information, get in touch with our Associates Rugwed Dhage, Jinal Shah and Smrithi Balasubramanian. #PioneerLaw #LawAtPL #FEMA #NDDCs #DLG

Litigation Update June 2023

Recently, in the case of V. Umadevi v. Kumaran Gin & Pressing Private Limited, the National Company Law Tribunal, Chennai Bench ruled that advance paid by a party for purchase of goods and/or services does not qualify as “operational debt” under IBC. The Tribunal opined that the scope of “operational debt” under Section 5(21) was […]