PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC (See 'Legal Desk') ACC delivers lifetime highest annualised PAT (See 'Corp Brief') SEBI Act - Appellants have failed to substantiate their claim of financial distress nor have they brought any new fact or circumstances requiring grant of interim relief : SAT (See 'Legal Desk') Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC (See 'Legal Desk') SJVN inaugurates First Multi-purpose Green Hydrogen Pilot Project (See 'Corp Brief') IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC (See 'Legal Desk') REC to extend loan of Rs 1869 Cr for Kiru Hydro Electric Project (See 'Corp Brief') IBC - Corporate Insolvency Resolution Process can be initiated for failure to repay debt due and payable : NCLT (See 'Legal Desk') CCO declares grading of coal and lignite mines (See 'Corp Brief') SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC (See 'Legal Desk') PM addresses Conference on Disaster Resilient Infrastructure (See 'Corp Brief') SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'Legal Desk') CCI okays subscription to debentures of Napino Auto by IFC (See 'Corp Brief') Constitution of India - Writ jurisdiction of Court cannot be used by party for collecting evidence and documents against another party, against whom petitioner has pending disputes : HC (See 'Legal Desk') World Energy Congress 2024: Power Secy, Ambassador to Netherlands inaugurate India Pavilion (See 'Corp Brief') PMLA - Considering money trail and involvement of applicant in crime he is not entitled for anticipatory bail : HC (See 'Legal Desk') Competition Act - Informant has neither referred to any particular agreement nor provided any document which suggest existence of anti-competitive agreement : CCI (See 'Legal Desk') CSIR implements new in-house 'Accounts Manager Software' for financial management (See 'Corp Brief') PMLA - Applicant is not entitled for grant of anticipatory bail u/s 45 of PMLA as Court does not find any reasonable ground to believe that applicant is not guilty of crime : HC (See 'Legal Desk') SARFAESI Act - Petition has been filed to overreach recovery proceedings, wherein Petitioners have been found to be liable to pay certain amount so as to circumvent provisions of statutory appeal : HC (See 'Legal Desk') IREDA reports All-Time High Annual Net Profit, NPAs below 1% (See 'Corp Brief') SARFAESI Act - District Magistrate is under statutory obligation to decide application u/s 14 of the SARFAESI Act within thirty days : HC (See 'Legal Desk') IBC - Wilful defaulter proceeding cannot be relatable to recovery of debt but is merely an off-shoot of debt : HC (See 'Legal Desk') Competition Act - Since it is agreement between enterprise and end consumer, same is not covered within ambit of Section 3(4) of Act: CCI (See 'Legal Desk') Govt announces election of 11 members Veterinary Council of India (See 'Corp Brief') Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA (See 'Legal Desk') PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC (See 'Legal Desk') IBC - There is no scope of interference in writ petition since there is no arbitrariness, mala fides or palpably illegality in impugned order : HC (See 'Legal Desk')

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Govt solicits view on Institutionalization of Arbitration Mechanism

Published: Mar 17, 2017

By TIOLCORP News Service

MUMBAI, MAR 17, 2017: THE Government of India has emphasised the need for promoting arbitration as a preferred dispute resolution mechanism for commercial disputes. Pursuant to this, a High Level Committee has been constituted under the Chairmanship of Mr. Justice B N Srikrishna, Retired Judge, Supreme Court on 29th December 2016 to review the institutionalisation of arbitration mechanism in India and submit a report.

The Committee has prepared a Working Paper, which is available on the website of the Ministry of Law and Justice at http://legalaffairs.gov.in/admin3

The Working Paper seeks to ask some important questions as to how to make India as a hub for institutional arbitration. The Paper also attempts to review why several existing arbitral institutions in India are not functioning effectively. For this purpose, the Committee has prepared two questionnaires addressed to (a) arbitral institutions in India; and (b) stakeholders in arbitration such as parties, their in-house counsel, lawyers and arbitrators. The questionnaires constitute Annexures 1 and 2 to the Paper.

Further, the Paper studies some of the most popular arbitral institutions worldwide in order to identify international best practices. On this basis, the paper identifies areas for reform in the Indian arbitration landscape.

The Committee invites public comments on suggestions made in this Working Paper as well as any other suggestions on strengthening institutional arbitration in India. All responses should be limited to 25 typed pages. The comments may be submitted by email to hlcarbitration@gmail.com on or before 7th April 2017.

Further, all existing arbitral institutions in India are requested to complete the questionnaire annexed as Annexure 1 to this Working Paper and email the completed questionnaire to hlcarbitration@gmail.com on or before 7th April 2017. Alternatively, the questionnaire can be filled as a Google form at this link -

https://docs.google.com/forms/d/e/1FAIpQLSeI-7n4DMChhsVzMh9NZIgYu20fww22lt5-8mwJbA3aZbz6Mg/viewform?usp=sf_link

All parties, in-house counsel, lawyers and arbitrators are requested to complete the questionnaire annexed as Annexure 2 to this Working Paper and email the completed questionnaire to hlcarbitration@gmail.com on or before 7 April 2017. Alternatively, the questionnaire can be filled as a Google form at this link –

https://docs.google.com/forms/d/e/1FAIpQLSdOP2TquwPKF-6M7ZPjy1LlOnMQPawTu3fU71fk4UeSFFLQhQ/viewform?usp=sf_link

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