Law and Literature

  Optionally Fully Convertible Debentures (OFCDs) are kinds of debt instruments; they are a hybrid instrument, as the investor has the option to convert this debt into equity (shares) of the issuing company after a specified period and at a predetermined price.  DO OFCDs CONSTITUTE DEBT AS PER SARFAESI Act, 2002. In SARFAESI the Meaning of ‘Debt’ as per section 2(1)(ha) of SARFAESI Act, is ‘debt’ shall have the meaning assigned to it in section 2(g) of RDB Act, 1993 and includes: (i) unpaid portion of purchase price of any tangible asset given on hire or financial lease or conditional sale or any other manner (ii) any right, title or interest on any intangible asset or licence or assignment of such intangible asset, which secures the obligation to pay any unpaid portion of the purchase price of such intangible asset or an obligation incurred or credit otherwise extended to enable any borrower to acquire the intangible asset or obtain licence of such asset. and the Meaning of D...

      — Siddhant Karki* In polished Oxfords,  I tread these shabby Kutchery halls alone, A silent vow that clings beneath my bone,  Where sunlight through these wide windows hardly falls,  A tattered curtain to tether, though time has bid it to depart.  I tell myself, I still have my moral oath to honour, “Justice and loyalty are mine to bear.” At Seventy-four, the ordinary tasks get difficult you see, I used to hurry these slopes downhill, Trying to reach before my Mentor,  Back when I was still Forty.  Britain & Brunei taught me well,  To serve as a Gorkha Soldier under Her Majesty,  It may have brought pride to many,  I am proud, please don’t get me wrong,  But I realised my hometown silently awaited me,  So I decided to take a self-imposed retirement, To be back to my hills, to my people, and of course back to my family. Maybe I’ll hang up my boots next year or so,  And decide to write more often,...

" Hyperboles employed in exchanges should not, without anything more, be glorified as an instigation to commit suicide." Section 306 IPC (108 BNS) envisages abetment to suicide and section 107 stipulates Abetment of a Things. The relevant section are reproduced herein: “306. Abetment of suicide  - If any person commits suicide, whoever abets the commission of such suicide, shall be punished with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.  107. Abetment of a thing —A person abets the doing of a thing, who— First.— Instigates any person to do that thing; or Secondly.— Engages with one or more other person or persons in any conspiracy for the doing of that thing, if an act or illegal omission takes place in pursuance of that conspiracy, and in order to the doing of that thing; or Thirdly.— Intentionally aids, by any act or illegal omission, the doing of that thing. Explanation 1.— A person who, by wilful misrepr...

Once a company goes into insolvency, the Resolution Professional (RP) is mandated to take over all the assets of the Corporate Debtor thereto but the IBC code imposes some statutory restrictions to the term ' assets ' stipulated under section 18 of the IBC code (herein after the code) Do subsidiaries come under the purview of insolvency of the parent shareholding company? It is a settled law that a subsidiary is a separate legal entity from its parent company as laid down by the celebrated english precedent in  Salomon v. A. Salomon & Co. Ltd. [1897] AC 22 . This foundational doctrine of a separate corporate personality has been consistently upheld by the Hon’ble Supreme Court of India, most notably in the landmark case of Vodafone International Holdings BV v. Union of India, (2012) 6 SCC 613 , which has clarified that even a wholly-owned subsidiary does not lose its distinct identity and that its assets belong to it, not to its parent shareholder.  The statutory pro...

There has been an outrage in the public due to the recent incident that has brought the judiciary in the spotlight but it is not the first time the judicial system has been undermined. The cash row incident of Justice Yeshwant verma reported on March 14 2025 was of such grave velocity that has again unlatched the past judicial stains. The media played the major part, so did the politicians and the bar associations. A three member committee was formed by the then CJI Justice Khanna to probe regarding the burnt pile of cash found in the out house of the residence of justice Verma, and after rigorous investigation, the three member committee found justice Verma guilty. The report was sent to the president and the PM to initiate the impeachment of justice Verma and accordingly the said report was also made public. Some praised the act of making the Report public for judicial transparency while many luminaries found major loopholes in the report with lots of speculations of unaccounted adv...