This note, first published on the National Law School Business Law Review blog, discusses recent amendments to the [Indian] Insolvency and Bankruptcy Code, 2016 in light of the COVID-19 pandemic, which inter-alia temporarily prevent creditors from initiating insolvency proceedings against corporate debtors. While the proposed changes are a step in the right direction, the Government should also consider the impact of the pandemic on pending proceedings as well as alternative mechanisms to restructure debt and resolve defaults in a cost-effective manner to preserve value.
The Consumer Protection (E-Commerce) Rules, 2020 (“Rules”) have been notified and enforced under the Consumer Protection Act, 2019 on July 23, 2020. The Rules apply to, inter alia, all goods and services sold over digital or electronic network; all models of e-commerce; and all forms of e-commerce retail. The Rules describe the duties of e-commerce entities, liabilities of marketplace e-commerce entities and duties of sellers selling products or services on marketplace e-commerce entities and duties and liabilities of inventory e-commerce entities, including the requirement to disclose the “country of origin” of the product or service. The timing of notification of the Rules is relevant in the context of the geopolitical conflict between India and China. This note discusses the key compliance requirements under the Rules in further detail.