The Union Finance Minister of India has on March 24, 2020 notified in the official gazette that the threshold for triggering insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“Code”) stands increased with immediate effect from Rs.1,00,000/- to Rs.1,00,00,000/-. The reason for the increase of threshold is to prevent triggering of insolvency proceedings against...
In the absence of a comprehensive legislation dealing with coronavirus, litigants are flocking to courts across the country seeking clarity and protection as a result of these unprecedented circumstances. Citizens and commercial establishments are presently struggling to understand the implications of the coronavirus-induced lockdown on a wide variety of issues, including commercial contracts, wages, court hearings, weddings,...
The COVID-19 pandemic has opened doors to numerous contractual controversies. With the announcement of the nationwide lockdown and suspension of domestic and international air travel, all domestic and international flights stood cancelled. Passengers with cancelled flight tickets were quick to seek refunds from the airlines. The airlines devised a way of compensating the passengers for...
