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...

Indian Banking sector comprises of 27 public sector banks, 21 private sector banks, 49 foreign banks and 56 regional rural banks. Indian Banking sector has registered strong growth in the past decade. Demand for loans has grown for both corporate & retail, particularly in services, real estate, consumer durables & agriculture allied sectors.  Government efforts to promote banking technology and expansion in rural areas has significantly improved the financial inclusion in the past few years. Sectoral level employment data (2017) suggests that Banks are providing huge employment opportunities in the country, nearly around 21% of total employment and is among the top 5 best growing sectors of India. With this ecosystem, while businesses can flourish, it is still important for them to focus on running a profitable business, instead of getting entangled in the heavy documenting, auditing and reviewing paperwork or procedure, as any distraction could lead to a loss of cror...

India has finally brought in an effective Mechanism for initiating insolvency proceedings against the Financially defaulting Companies by way of The Insolvency and Bankruptcy Code, 2016. The IBC offers a standardized, comprehensive financial condition legislation encompassing all corporations, partnerships and Sole Proprietorship. The Code provides that where a corporate debtor has defaulted in paying a debt that has become due and payable but not repaid, the corporate insolvency resolution process may be initiated in the manner as provided in this Chapter in respect of such corporate debtor by a financial creditor, an operational creditor or the corporate debtor itself. Naturally, the processes are complicated and the stakes are high. This increases the necessity of expertise being sought from firms or individuals with requisite experience to handle such cases and do what is best for their clients. Not everybody can advice and resolve matters involving multiple stakeholders with...

"I realized that the true function of a lawyer was to unite parties. A large part of my time during the 20 years of my practice as a lawyer was occupied in bringing about private compromises of hundreds of cases. I lost nothing thereby – not even money, certainly not my soul." Mahatma Gandhi's words couldn't have been truer, especially at a time when the backlog of court cases is so colossal that alternate means of dispute resolution have evolved from being an alternative to being a necessity. Arbitration has, especially, gained popularity for business dispute resolution due to the fact that it allows for private settlement of disputes away from media attention and ensures confidentiality, unlike Courts which provide a public forum for dispute resolution. However, anybody who has had firsthand experience of being involved in an arbitration would know that it has a long way to go before it achieves its desired purpose of becoming faster and mo...