ILO publishes a series of legal Newsletters which provide expert legal commentary in the form of concise, regular news updates. The Newsletters are written in collaboration with over 500 of the world's leading experts and cover more than 100 jurisdictions.
Arbitration & ADR
A recent Supreme Court decision has significantly altered the country's position on the arbitrability of fraud. However, while the decision could speed up domestic arbitration proceedings, it has raised many questions, as the single judge held that he was not bound by a two-judge bench decision because it had been made without reference to relevant decisions and statutory provisions.
Competition & Antitrust
The Competition Commission has imposed its first-ever penalty on an acquirer for 'gun jumping' (unlawful pre-merger coordination between parties to an M&A transaction). During the proceedings, the commission stated that the parties to the commercial cooperation agreement had consummated and implemented certain parts of the agreement without seeking its approval, but observed that mitigating factors should be considered and thus imposed a token penalty of Rs10 million.
The Allahabad High Court has issued perhaps the sternest order ever issued against an insurer. It directed the insurance industry regulator to examine every policy issued by SBI Life Insurance Company Limited and, if any policy was issued in breach of the file and use procedure and regulations, to discontinue all of SBI Life's policies if appropriate.
For more information, please contact:
Tom Gillett, Manager
International Law Office
New Hibernia House
London, SE1 9AG
Tel: +44 20 7234 0606
Fax: +44 20 7234 0808