"APTEL has taken the right step by giving interim relief to developers. Ideal relief should have been a complete stay on the tender. However, APTEL must have found it difficult because of the findings of APTEL in the order pronounced in Appeal Number 22 of 2016 (SunEdison Solar vs. DERC & Others). In the SunEdison case, Delhi DISCOM BSES had withdrawn its tariff adoption petition filed on the grounds of a significant reduction in solar power cost (a letter of intent was also issued to SunEdison). APTEL allowed the cancelation of the bidding process heavily relying on the term “consumer’s interest”"...
Read the update on the recent judgment of the Hon’ble Apex Court in the matter of Phoenix ARC Private Limited vs. Ketulbhai Ramubhai Patel, authored by our Partner, P Ravi Charan and Associate, Rashmi Gundrathi.
Read the article "Bank Guarantees – Legality of Timelines for 'Assertion of Claim' and 'Enforcement of Claim'" authored by our Disputes Partner, Milanka Chaudhury & Associate, Chaitra Bhat published on LiveLaw.
"This has become a cause of concern for the business community as well as the banking industry as keeping a Claim Period of one year, especially in BGs where the Validity Period itself is less than one year, invites a host of additional issues such as increase in unwanted costs, funds deposited in the form of margin money are locked in for a longer period, there is surge in working capital requirements, the liability of the bank is also extended, which all in all creates a discouraging environment for both the borrowers and the banking industry."
Read the full article here.
Read the expert views of our Partner and Head - China Desk, Santosh Pai published in The Hindu in its story "Buffeted by Centre and State, General Motors threatens legal action".
"The GM-GWM saga is a stalemate that benefits no one and is adversely impacting India’s stature as an FDI destination."
Ketan has extensive experience of having worked in leading international and domestic law firms, and also led the Legal Department of an infrastructure company. Ketan would also be adding strength to the Firm’s M&A practice and corporate/ commercial transactions. Ketan is joining the Firm with a team comprising Gaurav Priyadarshi (Associate Partner), Amit Kr Bhatnotra (Principal Associate), Apurv Ranjan (Senior Associate), Karishma Singh (Associates) and Rupendra Gautam (Associates).
Gaurav Priyadarshi has nearly 10 years of experience in banking and corporate transactions. Gaurav has worked in house at ICICI and at leading firms prior to joining Link Legal. He would be adding strength to the banking practice as well.
Mr. Atul Sharma, Managing Partner of the Firm said, “We’re extremely delighted to welcome Ketan Mukhija, Gaurav Priyadarshi and the team. Our strategy has always been to provide top notch expertise combined with client-focused legal service. I am sure they will play a key role in delivering this and further contribute in strengthening the Firm’s capability in the respective practices areas”.
Mr. Nusrat Hassan, Co-Managing Partner congratulated the new team and wished them all the very best.
Read more here.
Read the expert views of our Partner and Head - China Desk, Santosh Pai published in The Wire.
"China accounted for more than 80% of India’s imports in 375 categories of items in 2018-19. Out of the 57 product categories which have 100% dependency on China, the three industries of pharmaceuticals, electronics and automotive account for about 19%."
Read the full story here.
We are pleased to welcome Aditya K Singh and Gaurav Sahay who have joined the Firm as Partners in the Electricity Regulatory practice and Corporate practice, respectively.
Aditya and Gaurav with their extensive knowledge and experience will further strengthen the Firm's capability in the Regulatory & Corporate practice.
Read more here.
Read the story “Time's up: TikTok to shut operations in India after permanent ban”, where our Partner and Head - China Desk, Santosh Pai shared his expert views with Business Standard.
"When the ban came into force, internet companies were an easy target for the Indian government. If the border situation had been resolved in one or two months, the Indian government could have allowed TikTok and other Chinese apps to continue operations, with a few safeguards, but in the past six months, there has been no improvement in the border situation. TikTok has a global and an Indian problem. That TikTok is Chinese owned has been a problem in many countries. Eventually, to get around this issue they might sell to a US company. This might be a permanent global solution. India may then choose to review the situation. If they do not change ownership, I don’t think India will be open for TikTok."
Read the full story here.