Can Every Breach or Non-Performance be Justified or Excused on Invocation of COVID-19 as a Force Majeure: Delhi High Court Verdict

COVID-19 has caused tremendous economic loss, delays in project completion, missing of targets and milestones and potential breaches and disputes among contracting parties. Recently, in the matter of Halliburton Offshore Services Inc. vs Vedanta Limited & Anr. [O.M.P (I) (COMM.) No. 88/2020 & I.As. 3696-3697/2020], a petition seeking inter alia restrain on invocation of the […]

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Can suspension of rent due to lockdown be claimed by a lessee?

Judgment: Ramanand & Ors. Vs. Dr. Girish Soni & Anr. [CM APPL. 10847/2020]   Forum: Hon’ble High Court of Delhi (“DHC”)   Judgment delivered on: May 21, 2020   Act/Law: Indian Contract Act, 1872 (“ICA”) and Transfer of Property Act, 1882 (“TPA”)   Ratio: The right of suspension of lease rent can only be claimed […]

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Economic relief package and credit support for businesses

The Indian economy is currently reeling under a huge setback during the ongoing nationwide lockdown necessitated by the spread of COVID-19 pandemic. To uplift the economic gloom, the Government has laid out a road map towards building a self-reliant India (Aatma Nirbhar Baharat Abhiyan), with five key pillars identified as Economy, Infrastructure, System, Vibrant Demography […]

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Compendium of Measures taken by the Government of India During COVID 19 Pandemic

To ease the impact of disruption caused by the Coronavirus/COVID-19 pandemic (“Pandemic”), various departments of the Government of India have been issuing directions, advisories, orders and notifications with measures to be undertaken during the Pandemic. To consolidate the plethora of key amendments/modifications/relaxations issued by the Government of India in relation to the Pandemic including the […]

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COVID19 – Restriction on fee hike by private schools

In the wake of spread of COVID-19 pandemic, India is heading towards a new paradigm in conducting business, running offices, organising social distancing and managing supplies to needy and poor. The current lockdown is crippling Indian economy, making the state and industry coffers empty and also keeping the doors of learning institutions closed till further […]

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Force Majeure Event – Injunction Against Invocation of a Bank Guarantee During Lockdown

Force Majeure Event – Injunction Against Invocation of a Bank Guarantee During Lockdown Judgment: M/s Halliburton Offshore Services Inc. Vs. Vedanta Limited & Anr. [O.M.P. (I) (COMM) 88/2020 & I.A. 3697/2020] Forum: Hon’ble High Court of Delhi (“Court”) Judgment delivered on: April 20, 2020 Act/Law: Arbitration and Conciliation Act, 1996 (“Act”). Ratio: Special equities in […]

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Safeguarding against Opportunistic Acquisitions – Restriction on FDI from China

In a significant change to the Foreign Direct Investment Policy 2017 (“FDI Policy”), the Department for Promotion of Industry and Internal Trade has issued Press Note No. 3 (2020 Series) dated April 17, 2020 (“Press Note 3”), wherein it has imposed certain restrictions for receiving FDI from neighbouring countries. According to the Press Note 3, […]

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FAQs on Companies Fresh Start Scheme, 2020 and LLP Modified Settlement Scheme, 2020

Vide its circular dated March 30, 2020, the Ministry of Corporate Affairs (“MCA”) had introduced the Companies Fresh Start Scheme, 2020 (“CFS Scheme”) and amended the LLP Settlement Scheme, 2020 (“LLP Modified Scheme”) to allow defaulting companies and limited liability partnerships an opportunity to file belated documents, returns etc. without charging of additional fees with […]

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Guidelines to pass Ordinary and Special Resolution by Companies Owing to the threat posed by COVID-19

To ease the impact of disruption caused by the Coronavirus/COVID-19 pandemic and in the spirit of social distancing, the Ministry of Corporate Affairs (“MCA”), through its circular dated April 8, 2020 (“Circular”) and a subsequent clarificatory circular dated April 13, 2020 (“Clarification”), has provided specific guidelines for the companies to take all decisions which are […]

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Bombay High Court: No benefit to Petitioners seeking Force Majeure owing to Covid-19 outbreak

Judgment: Standard Retail Pvt. Ltd. V/s M/s. G. S. Global Corp & Ors. with Integral Industries Pvt. Ltd. V/s M/s. G. S. Global Corp. & Ors.; Vinayaga Marine Petro Ltd. & Anr. V/s M/s. G. S. Global Corp. & Ors.; Hariyana International Pvt. Ltd. V/s M/s. Hyundai Corporation & Ors. and Prabhat Steel Traders Pvt. […]

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Relaxations granted by sebi and irda on account of covid-19 pandemic

Compliances have taken a backseat during the ongoing lockdown due to Covid-19 pandemic. Regulatory authorities have granted several relaxations to assist businesses to cope with the unprecedented lockdown and economic distress. We discuss herein below a few relaxations granted by the Securities and Exchange Board of India and the Insurance Regulatory and Development Authority of […]

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Delhi High Court: Party challenging an award under Section 34, Arbitration and Conciliation Act, 1996 or seeking a stay on award to deposit the entire sum awarded

Judgment: Power Mech Projects Limited Vs. SEPCO Electric Power Construction Corporation [O.M.P. (I) (COMM.) 523/2017], Forum: Hon’ble High Court of Delhi (“Court”) Judgment delivered on: February 17, 2020 Act/Law: Arbitration and Conciliation Act, 1996 (“Act”). Ratio: In appropriate circumstances, the Court can direct the deposit of the entire sum awarded under the arbitral award before […]

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