by Adv. Vaibhav Shahi & Mr. Lakshay Tewari Decoding the Latest Judgement of the Supreme Court clarifying that Section 138 of NI act does not treat the amount to be paid on instrument, as a debt if the previous part payment is not indorsed.[1] Dismissing the appeal filed against the judgment of the Hon’ble Gujrat High Court, the apex court held that if a part payment is made in respect to a “legally owned debt”,

by Arohan Pattnaik* Background of the Appointments before the new Framework Section 48A of the Insurance Act, 1938 (“Act”) prohibited the nomination of the same individual to the Board of Directors (“Board”) of both an insurer and an insurance intermediary (brokers, corporate agents, and web aggregators) (“Common Director”). But this was subject to the Insurance Regulatory and Development Authority of India (“IRDAI”). IRDAI had the authority to allow an intermediary to serve on the Board of

by Tanya Shrotriya* A voluntary liquidation is a self-imposed wind-up and dissolution of a company that has been approved by its shareholders. Such a decision will happen once a company’s leadership decides that the company has no reason to continue operating. The purpose of a voluntary liquidation is to terminate a company’s operations, wrap-up its financial affairs, and dismantle its corporate structure in an orderly fashion, while paying back creditors according to their assigned priority. A

by Tanya Shrotriya* Introduction SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship are under the Competition Commission’s scanner. The three firms are also the founding members of the Trustees’ Association of India. The Competition Commission of India has launched an investigation into the debenture trustees and their associations on a prima facie view that there is probably a form of cartelization between debenture trustees to fix to the prejudice of consumers’ debenture trust fees. Judgment and