Skip to main content

January 2022

NCLT Delhi holds that Principal and Interest Amount Cannot Be Clubbed To Reach The Minimum Threshold of Rs. 1 Crore u/s 4 of IBC, 2016.

Title: NCLT Delhi holds that Principal and Interest Amount Cannot Be Clubbed To Reach The Minimum Threshold of Rs. 1 Crore u/s 4 of IBC, 2016.
by Saurabh Gandhi

Case:
CBRE South Asia Private Limited Versus M/s. United Concepts and Solutions Private Limited.
Court/Tribunal:
National Company Law Tribunal (NCLT), New Delhi Bench (Court-II)
Coram:
Sh. Abni Ranjan Kumar Sinha, Hon’ble Member (J)
Sh. L.N. Gupta, Hon’ble Member (T)

Attachment before Judgment

Introduction:
Attachment in simple means “the process of seizeing of property”. Attachment is basically of immovable properties. Law provides various ways for attachment of property. Law contains an important principle in it, and this is the principle of “Attachment before Judgment”.

Contract’s Midnight Clauses: Governing law; Applicable jurisdiction and Arbitration Clause.

A commercial contract is a legal relationship, in its acrimonious standoff, the first legal hurdles to be met are Governing law; Applicable Jurisdiction; and Arbitration Clause as structured to apply to the contract. In its negotiations phase, these clauses largely are renegade to the last option and thus as referred to as midnight clause, these are glossed over in the finalization of the agreement and unless a full thought is given, if parties are from different geographies it results in litigation lawyers’ paradise.

Legal Families and Legal Rules

Comparative legal scholars agree that, even though no two nations' laws are exactly alike, some national legal systems are sufficiently similar in certain critical respects to permit the classification of national legal systems into major families of law. Although there is no unanimity among legal scholars on how to define legal families, "among the criteria often used for this purpose are the following:
* historical background and development of the legal system,
* theories and hierarchies of sources of law,
* the working methodology of jurists within the legal systems,

Convention Signature

Signature ad Referendum
A representative may sign a treaty "ad referendum", i.e., under the condition that the signature is confirmed by his state. In this case, the signature becomes definitive once it is confirmed by the responsible organ.
[Art.12 (2) (b), Vienna Convention on the Law of Treaties 1969]