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 ...

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...

Law firms are always on the lookout for emerging cities and markets in the country to set shop. Any good law firm has an expansion plan in place, in order to make its presence felt in not just the two major hubs—Delhi and Mumbai—but also other cities, in order to expand their customer base, and therefore, increase their revenue. Being early entrants to a new market also increases a firm’s chances of establishing a stronger practice than entrants who enter later. The latest in the list of new, emerging markets being eyed by law firms across the country, is Chennai.  It is Chennai’s business culture that is being recognized as the primary booster for law firms to establish branches in the city. Therefore, succession planning, family disputes and mergers and acquisitions showcase ample scope for law firms in the region. Further, much like Mumbai, the city also houses a vibrant film industry. Popularly known as the “Detroit of Asia”, Tamil Nadu is also a manuf...