IndiaLaw LLP

With the rapid globalization of the economy and the resulting increase in competition there has been a significant increase in commercial disputes. The outpaced rate of development has led to increase in industrial growth, modernization, improved socio-economic circumstances, technological development which in turn has led to an increase in case overloads for the already overburdened courts. Development and disputes are two sides of the same coin, which means that the alarming rate of development has its snag, which is the increasing number of the disputes in various sectors. The multiplying of outstanding cases in the courts, exorbitant delays in the administration of justice and expenses of litigation have continued to plague people thereby undermining their faith in the justice system. The issue at hand is to examine and choose a right formal legal system, such as Alternative Dispute Resolution procedures. India has a standing as being one of the oldest in the history of the

Wait for justice in India can be agonisingly long as the first tier of the country’s justice administration system, district courts, is burdened with over 30 million pending cases and this number is increasing. More than two thirds of the pending suits are criminal cases, showing a lack of effective prosecution and early disposal. Large number of pendency of criminal cases are worrisome for two reasons. Firstly, it denies the access to justice to a large number of victims of crime. Secondly, because of slow progress of the criminal cases, a large number of undertrial prisoners continue to languish in jails, sometimes, they end up spending more time in jail as undertrials than the prescribed term of imprisonment for the crime they have been accused of committing. In September 2018, just before taking the charge, Chief Justice of India, Ranjan Gogoi had expressed concern over the huge pendency of court cases while addressing a group of young lawyers. “Two things are troubl

Running a business in India can be extremely stressful and challenging. In fact, a study on entrepreneurial well- being by ASCENT Foundation and Mariwala Health Initiative recently found that nearly 8% of younger entrepreneurs and 6% of older entrepreneurs who are in family-owned businesses have had suicidal thoughts. Majority of the study participants said they experienced anxiety, confusion, irritability and frustration sometimes during their entrepreneurial journey.  The study, which received response from 186 entrepreneurs (of family run businesses and new age entrepreneurs) from the ASCENT cohort, between the age group of 20 to 60 years, showed that stress due to financial cash flows, fear of failure and disagreements with partners or family members are the top stressors, irrespective of their age and years in business . Add to this the cumbersome documentation and paperwork to be taken care of at every step of the process. All these hurdles function as impediments for ent

In India, the Insolvency and Bankruptcy Code, 2016 is one matured step towards settling the legal position with respect to financial failures and insolvency. To provide easy exit with a painless mechanism in cases of insolvency of individuals as well as companies, the code has significant value for all stakeholders including various Government Regulators. Introduction of this Code has done away with overlapping provisions contained in various laws – Sick Industrial Companies (Special Provisions) Act 1985, The Recovery of Debts Due to Banks and Financial Institutions Act 1993, The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, and The Companies Act, 2013. Before the enactment of this Code, there were multiple agencies dealing with the matters relating to debt, defaults, and insolvency which generally leads to delays, complexities and higher costs in the process of Insolvency resolution. The ‘Board for Industrial and Financial R