It is well-known that one of the grounds for winding up a company under Indian company law is its inability to pay “debts”. S. 433(e) explicitly provides that a company may be wound up by the company court if it is “unable to pay its debts” and s. 434(1)(a) lists three circumstances where a company is deemed to be unable to pay its debts. “Debt” has been construed widely in Indian law, and...
Corporate Governance: India and China Compared
While a fairly extensive body of literature that compares India and China has developed in the economics and business spheres, comparative analyses of the legal regime in these two countries is somewhat nascent. In that regard, a new book China, India and the International Economic Order, edited by Professors M. Sornarajah and Wang Jiangyu at the Faculty of Law, National University of Singapore...
Arbitration: MSM Satellite v. World Sport Group – Part 2
(The following is the continuation of this previous post, and has been contributed by Vijay Kumar, a lawyer and a company secretary by qualification, who is practising as an Advocate in the Chennai High Court with the law firm of Iyer and Thomas) Comments a. The Dispute in reality is between MSM and WSGML and the question is whether MSM is liable to WSGML under the facilitation deed. This...
Arbitration: MSM Satellite v. World Sport Group – Part 1
(The following post has been contributed by Vijay Kumar, a lawyer and a company secretary by qualification, who is practising as an Advocate in the Chennai High Court with the law firm of Iyer and Thomas) Appeal in the Bombay High Court MSM Satellite (Singapore) Ltd (MSM) had filed a suit against World Sport Group (Mauritius) Limited (WSGML) and had moved a notice of motion before the Learned...
Recent Comments