Monthly Archives: Apr 2016

Breach of Contract, Liquidated damages and Penalty

Breach of Contract When a party fails or refuses to perform his part of the contract, it amounts to a breach of contract. A breach may take any of the three forms, namely, (a) where a party fails to perform … Continue reading

Posted in Contracts, Law, Legal, Uncategorized | Tagged , , , , , | 1 Comment

A brief introduction to the Insolvency and Bankruptcy Code

The Insolvency and Bankruptcy Code1 (Insolvency Code) was introduced in the Parliament in December 2015 and was referred to the Joint Committee of Parliament. The Committee has submitted its report on 28th April 2016 (read the summary of the Joint Committee Report … Continue reading

Posted in Banking, Commercial Laws, Law, Uncategorized | Tagged , , , , | 7 Comments

Bank Guarantee- Invocation and grant of injunction by Courts

Bank Guarantee Bank guarantee is the backbone of commercial transactions.  It is said that business proceeds on beliefs or judgment of probabilities and not on certainities.  Thus when a commitment is made it must be honoured, otherwise people will lose … Continue reading

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Corporate Debt Restructuring Mechanism-Explained

Corporate Debt Restructuring (CDR) Mechanism was evolved by Reserve Bank of India (RBI), and detailed guidelines were first issued in 2001 for implementation by banks. The CDR Mechanism covers only multiple banking accounts, syndication/ consortium accounts, where all banks and … Continue reading

Posted in Banking, Legal, Uncategorized | Tagged , , , , , , , | 2 Comments