Getting the Deal Through: Construction 2018

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By: Ramesh Vaidyanathan, Laxmi Joshi and Probal Bose

Advaya Legal contributed to the India chapter of Getting the Deal Through: Construction 2018.

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State of play in insolvency and bankruptcy reforms

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By: Ramesh Vaidyanathan

The Insolvency and Bankruptcy Code, 2016 (Code) was enacted with the primary objective of consolidating and amending various laws relating to reorganisation and insolvency resolution of corporates, firms and individuals in a time bound manner to maximise the value of their assets. Before the Code, there was no single law dealing with insolvency and bankruptcy in India. As a result, multiple authorities such as the high courts, the Company Law Board, the Board for Industrial and Financial Reconstruction (BIFR) and the Debt Recovery Tribunals (DRT) had overlapping jurisdiction resulting in procedural delays and inefficient processes.

The conundrums of a gig economy

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By: Ramesh Vaidyanathan and Probal Bose

“There were laws created for businesses and there were laws created for people. What the sharing economy did was create a third category: people as businesses.” This quote by Airbnb co-founder Brian Chesky lucidly explains the “gig economy”, a trend that is gathering momentum in India as big software companies like Wipro and Infosys hire gig workers on a project-to-project basis. The sharing economy has revolutionized the way services are delivered and received around the world.