Category: Volume 4 and Issue 4 of 2024

ANALYSING THE DEBT RECOVERY MECHANISM IN INDIA: A CRITICAL STUDY OF THE RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993

AUTHOR – EMMANUEL SOKA JOSEPH* & DR.SUNIL KUMAR**, *LL.M. (MASTER OF LAWS) & **PROFESSOR, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI (PUNJAB).

BEST CITATION – EMMANUEL SOKA JOSEPH & DR.SUNIL KUMAR, ANALYSING THE DEBT RECOVERY MECHANISM IN INDIA: A CRITICAL STUDY OF THE RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 389-394, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract:

Debt recovery in India has long been a significant challenge for financial institutions and creditors, impacting economic stability and growth. The Debt Recovery Tribunals (DRTs), established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, represent a pivotal step in streamlining the recovery process. This Act was introduced to expedite the resolution of disputes related to the recovery of debts owed to banks and financial institutions, thereby reducing the burden on conventional courts.

The DRTs operate with the objective of providing a specialized forum for creditors to address claims more efficiently. This abstract reviews the framework of the DRT Act, its operational mechanisms, and the legal provisions that empower these tribunals. It also examines the effectiveness of the DRTs in facilitating quicker recovery of debts, their impact on the banking sector, and the challenges faced, including delays in proceedings and enforcement issues. Furthermore, this paper explores the evolution of debt recovery laws in India, highlighting the role of the DRTs in enhancing access to justice for creditors while considering the implications for debtors. It emphasizes the need for reforms to strengthen the effectiveness of the DRTs, address procedural bottlenecks, and ensure a balanced approach that protects the interests of all stakeholders.

SUCCESSION PLANNING FOR MUSLIMS IN THE UAE: NAVIGATING SHARIA LAW AND LOCAL LEGISLATIONS FOR ASSET MANAGEMENT AND ESTATE PLANNING

AUTHOR – VIKSHITA POOJARY, INDEPENDENT AUTHOR,  EMAIL – VIKSHITA.POOJARY1@GMAIL.COM

BEST CITATION – VIKSHITA POOJARY, SUCCESSION PLANNING FOR MUSLIMS IN THE UAE: NAVIGATING SHARIA LAW AND LOCAL LEGISLATIONS FOR ASSET MANAGEMENT AND ESTATE PLANNING, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 379-388, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

This write up critically analyses the concept of succession for a muslim in UAE under Sharia law, Federal Law No. (5) of 1985 on the Civil Transactions Law, and Federal Law no. (28) of 2005 on Personal Status of the United Arab Emirates. Examining its juridical dimensions and implications with the framework of the Sharia law. Succession is the process of organising and managing the transfer of assets. And how this tool of succession planning becomes an important tool for a Muslim to safeguard his assets. Furthermore, the concept of Hibah, as a form of voluntary transfer of property, is deep rooted in the Islamic jurisprudence and raises intricate questions related to contractual validity, intention, and adherence to the Sharia principle. Furthermore, analysing how estate planning and succession acts as an alternative mechanism in asset management. Dissecting the legal nuances and assessing its theological underpinnings by analysing verses stated in the holy books, Federal Civil Law statutes, and Personal Status Law.

Keywords- Hibah, Sharia Law, Muslim, UAE, Donor, Donee, Estate Planning

IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON SOCIETY

AUTHOR – SAMUEL TABAN HAKIM DANIEL* & DR. RAJIV BHALLA**, LL.M. (MASTER OF LAWS)* & PROFESSOR**, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI, PUNJAB, INDIA

BEST CITATION – SAMUEL TABAN HAKIM DANIEL & DR. RAJIV BHALLA, IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON SOCIETY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 363-378, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

CSR has progressed from being a moral corporate voluntarism to a legal norm under the Indian ‘Companies Act, 2013’, especially ‘Section 135’ which provides that eligible companies have to spend at least 2% of their profits on social and environmental welfare. This paper aims to analyze CSR regarding the effects on society, covering the economic, social, and environmental areas, and the difficulties in practice, which are: greenwashing, unequal standards, and the objectives of social and economic return. While the study focuses on effective CSR approaches with positive social sustainability outcomes, such as those by Tata Group encompassing community welfare, it also examines cases with low outcomes, including Vedanta in the Niyamgiri Hills, which exposes problems with stakeholder engagement and ethical considerations. Various judgments passed in India have framed the CSR provisions and have enforced various social and environmental justice. Thus, it is recommended that legislatures provide more stringent rules and methods for CSR implementation, managers should expand CSR into a company’s strategic management, businesspeople should engage different stakeholders effectively, and corporate reports should contain better and more comprehensive standards for CSR. These measures are designed to encourage real participation in the actualization of sustainable development by meeting social, economic, and ecological needs in India.

Keywords: Corporate Social Responsibility, Companies Act 2013, Section 135, sustainable development, greenwashing, India, environmental sustainability.

BEYOND COURTROOMS: ADR AS A PATHWAY TO JUSTICE FOR ALL

AUTHOR – DHRUTI DEWANGAN, STUDENT AT KALINGA UNIVERSITY, NAYA RAIPUR

BEST CITATION – DHRUTI DEWANGAN, BEYOND COURTROOMS: ADR AS A PATHWAY TO JUSTICE FOR ALL, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 355-362, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

One of every citizen’s fundamental right, access to justice is closely associated with the idea of the rule of law. Alternative Dispute Resolution (ADR) may also provide a lot of advantages over court procedures when parties are seeking a final and binding resolution. The ADR gives parties access to a more reasonable range. This takes a close look at the topic of access to justice, analyzing how well Alternative Dispute Resolution is working and what more might be required to make access to justice sincerely accessible. To guarantee that everyone has access to ADR as method of dispute resolution and that its advantages be made widely known. ADR focuses on out of court settlements but also gives possibility of appeal in courts in case of non-satisfaction of parties.  The bigger structural challenges such as uneven access to legal counsel and disparities in power between parties must be rectified in order to fully achieve ADR’s promise as a path to justice for all. This research study aims to understand how ADR processes can effectively make justice accessible beyond the traditional courtroom-centric approach. This Article examines the advantages, disadvantages, and effectiveness of Alternative Dispute Resolution (ADR) as it pertains to equitable and accessible conflict resolution for different demographics. This paper in hand seeks to demonstrate the transformational potential of alternative dispute resolution methods in advancing justice for all parties by analysing case studies, legal frameworks, and empirical research.

A LEGAL ANALYSIS OF MERGERS & ACQUISITIONS UNDER THE COMPETITION ACT, 2002

AUTHORS – SANNA RAJPUT* & DR. NISHA SAIN**, LL.M. (MASTER OF LAWS) SCHOLAR* & PROFESSOR**, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI, PUNJAB, INDIA

BEST CITATION – SANNA RAJPUT & DR. NISHA SAIN, A LEGAL ANALYSIS OF MERGERS & ACQUISITIONS UNDER THE COMPETITION ACT, 2002, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 343-354, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

The legal measures regarding M&A under the “Competition Act, of 2002” have indeed been very crucial for India to preserve competitive markets. This, together with the “Companies Act, 2013,” and the “Takeover Code,” also regards corporate growth and competition law within CCI in India. The Act requires notification of mergers in cases where they are likely to produce anti-competitive effects and will harm consumers. Nevertheless, many issues persist, like confusion over notification standards, new and developing markets, and inequalities in how the CCI conducts its review. The paper examines issues with the regulation process and presents potential amendments, including the clarification of thresholds and implementation of a dynamic, tiered notification system, as well as the enhancement of the review process and incorporation of further economic analysis techniques such as the Herfindahl-Hirschman Index (HHI). Increasing transparency, involving stakeholders, and integration of the international best practices of such countries as the U.S. as well as the EU may potentially improve the study of sector-specific guidelines in India. Because notification standards can be tightened up, remedies improved, and CCI capability developed, the framework will be more flexible in quickly evolving markets. Genesis of the problem Also, an analysis of the CCI’s jurisprudence in some of the seminal cases is informative of the concerns of economic efficiency and fairness in the context of competition.

Keywords: Competition Act, 2002; mergers and acquisitions; Competition Commission of India; competition law, corporate growth; consumer protection

CRITICAL EVALUATION OF Legal MECHANISM GOVERNING BANKING FRAUDS WITH SPECIAL REFERENCE TO ONLINE FRAUDS

AUTHORS – RADHIKA* & DR. RAJIV BHALLA**, LL.M. (MASTER OF LAWS) SCHOLAR* & PROFESSOR**, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI, PUNJAB, INDIA

BEST CITATION – RADHIKA & DR. RAJIV BHALLA, CRITICAL EVALUATION OF Legal MECHANISM GOVERNING BANKING FRAUDS WITH SPECIAL REFERENCE TO ONLINE FRAUDS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 330-342, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

The advancements in an easily integrated method of automated banking have helped improve the customer experience while also becoming a threat to online banking fraud. This paper explores the Indian legal provisions to curb banking fraud, especially in the online platform, and the current developments, deficits, and recommendations. The legal framework comprises critical legislation, laws such as the Information Technology Act, 2000, and Bharatiya Nyaya Sanhita, 2023, along with the guidelines from the Reserve Bank of India (RBI). Nevertheless, some small steps have been made to fill in the gaps, though many of the advanced online fraud schemes are still unmet by legislative changes and tightening regulations. A comparative analysis of what applies in the US and the UK highlights gaps showing the lack of sufficient laws to address digital financial crimes together with roles for the regulatory authorities that are more proactive. Some of the factors that exert immense pressure on enforcement include jurisdictional problems, prosecutor problems, and the dynamic nature of fraud. To strengthen the procedure with measures against fraud, the paper provides recommendations: improving current legislation, developing international cooperation, and including such innovations as artificial intelligence, biometric identification, and blockchain. Equally important is training law enforcement agencies on the nature of cybercrime and awareness creation. Synergizing the legal and regulatory perspective with technological solutions for combating online banking fraud would go a long way toward the realization of a secure and more resilient financial system in India.

Keywords: Online banking fraud, Cybersecurity regulations, Artificial intelligence, fraud prevention

CORPORATE EVALUATION RESOLUTION IN INDIA

AUTHORS – SUHASHI SINGH RAJPUT* & DR. RAJIV BHALLA**, LL.M. (MASTER OF LAWS) SCHOLAR* & PROFESSOR**, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI, PUNJAB, INDIA

BEST CITATION – SUHASHI SINGH RAJPUT ^& DR. RAJIV BHALLA, CORPORATE EVALUATION RESOLUTION IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 318-329, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

According to the “Companies Act, 2013’, the National Company Law Tribunal (NCLT) has brought revolutionary change in the corporate conflict management system. This center was designed as a specialized forum to handle corporate law disputes in matters for shareholders, corporate management, and insolvency. It assesses the NCLT ability to provide efficient and fair remedies by critically examining the role of the tribunal for corporate governance about investor confidence. Due to the functions assigned to the NCLT, which include the addressing of complexities and reduction of procedural time, the NCLT has succumbed to some challenges, which include procedural delays, a lack of viable structures, and jurisdictional conflicts with other legal entities. Corporate rescue and insolvency practice in India: The current article shows that while the NCLT has enhanced procedural rationality and judicial autonomy, it still has drawbacks. This paper argues that the efficiency of the current judicial system is frustrated by delays in court cases and unclear jurisdictions, thus requiring reforms in its capacity and functional efficiency. In tracing the evolution of the selected cases, the study details what the NCLT has achieved and where needed improvement is required. There are propositions towards procedure modifications and improvements of physical infrastructure, as well as recommendations relating to matters of jurisdiction, that aim to enhance the contribution of the tribunal towards the steady development of an appropriate corporate legal environment for India.

Keywords: NCLT, Companies Act 2013, corporate dispute resolution, corporate governance, investor confidence, insolvency

THE WRIT OF HABEAS CORPUS:  A PILLAR OF PERSONAL LIBERTY UNDER THE INDIAN CONSTITUTION

AUTHOR – SHUBHAM SHARMA, STUDENT AT BHARATI VIDYAPEETH UNIVERSITY, NEW DELHI.

BEST CITATION – SHUBHAM SHARMA, THE WRIT OF HABEAS CORPUS:  A PILLAR OF PERSONAL LIBERTY UNDER THE INDIAN CONSTITUTION, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 312-317, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The writ of Habeas Corpus plays a pivotal role in the Indian legal system, serving as a vital instrument for protecting fundamental rights enshrined in the Constitution. It is a legal remedy available to citizens, ensuring that unlawful detention is swiftly addressed. Empowered by Articles 32 and 226, the writ is a cornerstone of judicial oversight, enabling the Supreme Court and High Courts to act as custodians of personal liberty. This article delves into the meaning, significance, and procedural aspects of Habeas Corpus in India, alongside exceptions and landmark judicial pronouncements that have shaped its application.

KEYWORDS: Habeas Corpus, Indian Constitution, Article 32, Article 226, Personal Liberty, Judicial Oversight.

“A CRITICAL ANALYSIS OF INDIAN ANTI-RAPE LAWS IN BRIEF NEXUS TO THE GLOBAL PERSPECTIVE”

AUTHORS – DANIYAL ZAMEER*, MOHD SAIFULLAH KHAN* & ZUBAIR**, LL.M SCHOLAR* & RESEARCH SCHOLAR** AT FACULTY OF LAW, ALIGARH MUSLIM UNIVERSITY, ALIGARH

BEST CITATION – DANIYAL ZAMEER, MOHD SAIFULLAH KHAN & ZUBAIR, “A CRITICAL ANALYSIS OF INDIAN ANTI-RAPE LAWS IN BRIEF NEXUS TO THE GLOBAL PERSPECTIVE”, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 304-311, APIS – 3920 – 0001 & ISSN – 2583-2344.

INTRODUCTION

ABSTRACT

This paper critically examines the Indian anti-rape laws, tracing their historical evolution, the current framework, and the effectiveness of these laws in comparison with international standards. Though Indian law has witnessed several legal reforms on this count, especially since 2012 after the Nirbhaya case, justice still eludes the survivors, and sexual abuse in fact continues to find haunting scope. The factors are procedural delays, social stigmata, and unequal enforcement. This paper will examine legal frameworks and practices of other countries that can be used to supplement India’s approach in countering this menace. Analyzing the Indian system brings out gaps, such as the lack of holistic support for survivors and the reformation needed to streamline processes in legal proceedings. The study will provide recommendations aimed at improving the anti-rape legal framework in India by focusing on a number of measures including the protection of victims, efficiency in judicial processes, and raising awareness and education campaigns to overcome stigma. For this paper, it’s very important to contribute to discourse on the improvement of justice for survivors and the reduction of incidence in sexual violence through legislative and procedural change.

KEYWORDS: Anti- Rape, Sexual Abuse, Social Stigma, Sexual Violence.

ROLE OF WTO IN ADVANCEMENT OF INTERNATIONAL TRADE

AUTHOR – IQRA SHAMIM* & DR. HARSHITA THALWAL**, LL.M. STUDENT* & ASSOCIATE PROFESSOR**, CHANDIGARH UNIVERSITY, MOHALI

BEST CITATION – IQRA SHAMIM & DR. HARSHITA THALWAL, ROLE OF WTO IN ADVANCEMENT OF INTERNATIONAL TRADE, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 294-305, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

The World Trade Organization (WTO) contributes largely to international trade by providing a structure for trade negotiations and enabling efficient processes for the import and export of goods and services. In this abstract, the goals of the paper will be achieved through describing the major elements of the structure and functions of the WTO and over a document its importance in international trade. Founded in 1995, WTO seeks to assist the member countries in developing an open and equitable system of trade through setting rules and resolving disputes. There is a Ministerial Conference, a General Council and a number of committees for the various sectors of international trade which are above the organizational structure of the WTO. Features of the WTO’s trading system include non-discrimination, transparency and predictability principles which enhance the conduct of business. The WTO members also contributed to this development by stimulating liberalization of trade, tariff cuts and provisions of aid for trade to the developing states. On the other hand, its efficiency has been questioned, as its critics have brought to attention the issues of developed world hegemony, stagnation in agricultural policy reforms and new difficulties brought about by the lengthening global supply chains. However, in spite of those, WTO still make a significant impact over the world economy and economic advancement of countries.

Keywords: WTO, International Trade, National Treatment,  Fair Trade, Economics, Ministerial Conference, Free trade.