By Ramesh Vaidyanathan & Mansi Singh
Mediation is essentially a process of negotiation in which the conflicting parties come together to resolve a dispute with the assistance of a neutral mediator. The mediator merely facilitates the resolution of the dispute by creating a congenial environment and suggests solutions, but at the same time, lacks the authority to pronounce a judgment on the matter. Along with conciliation, mediation as an alternate mode of redressal of disputes offers flexibility, participation and consensus of all parties and is both time and cost-effective.
By: Ramesh Vaidyanathan and Mahafrin Sidhwa
The Delhi High Court (HC) has given a major respite to pharmaceutical companies in the case of Pfizer Limited & Anr V. Union of India & Anr by quashing 344 Notifications dated 10th March 2016 issued by the Central Government seeking to prohibit 344 Fixed Dose Combinations (FDC) from being manufactured and distributed in the territory of India. FDCs form a major part of medical compositions used in curing cough reflexes, bronchial, respiratory and dermatological disorders.
By: Ramesh Vaidyanathan and Mansi Singh
With the increasing levels of non-performing assets (“NPAs”) in India over the years, reforming the legal framework for debt recovery and bankruptcy has become a sheer necessity. Presently, there are nearly 70,000 cases pending before the Debts Recovery Tribunals (“DRTs”) in India. The gross non-performing advances rose sharply to 7.6 per cent of total gross advances in March 2016 from 5.1 per cent in September 2015.
The enactment of the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016, (“Act”) in August 2016 is a significant move towards improving the situation. The Act amends the following 4 laws as well: