Quite recently the Chief Justice of India unveiled the statue of Lady Justice, notably without the traditional blindfold. This change marked a historical shift from the western thought to a modern approach prompting us to reflect on the Indian outlook of justice. Blending ancient philosophical wisdom within modern legal frameworks, the new statue serves as a potent symbol of change in the manner in which the Indian society perceives justice. Justice: More Than Formality Justice…
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SEBI’s Earnest Attempt for Linkage between LODR and Pit Regulations – Feeble or Effective?
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Introduction – Laying Down Context Recently, SEBI released a consultation paper dated 18th May, 2023 (“Proposal”) on SEBI (Prohibition of Insider trading) Regulations, 2015 (“PIT Regulations”) which broadens the scope for unpublished price sensitive information (“UPSI”). Regulation 2(1)(n) of PIT Regulations defines UPSI as “any information, directly or indirectly related to a company or its securities, that is not generally available and is likely to materially affect the securities’ price upon becoming generally available”. It contains an indicative list as…
The AI-Vengers Initiative: Revamping the Justice System with Predictive Analysis
Introduction It was revealed in 2016 that a United States (“US”) based law firm, Baker Hostetler, employed ROSS, the world’s first-ever robotic lawyer in the world. ROSS, a legal research robot built around IBM’s Watson cognitive computer, can collect data, make conclusions, and provide responses to a wide range of queries posed by attorneys. Chief Justice D.Y. Chandrachud stated that “Technology is here to stay for the future, forever” in response to a petition asking for the…
Revisiting the Tussle between the Micro, Small and Medium Enterprises Development Act, 2006 and the Arbitration and Conciliation Act, 1996
By Harshit Tyagi, a 3rd-year student of Symbiosis Law School, Nagpur and Bhanu Pratap Samantaray, a 4th-year student of National Law University, Orissa. INTRODUCTION In recent times, arbitration has emerged as a popular mode of Alternate Dispute Resolution (“ADR”). With a notable increase in the number of commercial transactions, both national and international, and growing businesses around the world, parties tend to choose arbitration as a convenient mode to resolve their disputes. In India, arbitration as…
Unilateral Appointment of Arbitrator vis-à-vis Termination of Mandate
By Ashish Kumar and Urja Joshi. The authors are students at NMIMS School of Law, Bangalore. The Calcutta High Court (“Cal HC”) recently expounded the scope of Section 14(1)(a) of the Arbitration and Conciliation Act, 1996 (“1996 Act”) in the judgment of Yashovardhan Sinha HUF v. Satyatej Vyapaar Pvt. Ltd.[i] The Section 14 of the 1996 Act is as under: “Failure or impossibility to act. — (1) The mandate of an arbitrator shall terminate if— (a) he becomes de jure or…