Best Law Firm In Kolkata

The Insolvency and Bankruptcy Code, 2016 (IBC), segments debt into two distinct categories: Financial Debt and Operational Debt . This classification determines the rights, roles, and remedies available to creditors within the Corporate Insolvency Resolution Process (CIRP). A recent judgment by the Supreme Court of India in Global Credit Capital Limited vs. Sach Marketing Pvt. Ltd. , 2024 SCC OnLine SC 649, addresses this critical classification, offering clarity on how certain transactions—such as a security deposit under a service agreement—may be treated under the IBC. The case underscores a foundational principle in insolvency law: it is not the label but the substance of the transaction that dictates its legal nature . Brief Factual Matrix One Mount Shivalik Industries Limited (Corporate Debtor, or CD) entered into a Sales Promoter Agreement with Sach Marketing Pvt. Ltd. (Sach). As part of this agreement, Sach deposited a security amount with the CD, with the understanding tha...

 The Indian Contract Act, 1872, forms the foundation of contract law in India. Enacted during the British colonial era, it codified and structured how agreements are created, interpreted, and enforced. Even over 150 years later, its significance continues to guide commercial and personal agreements across the country. This article delves into the origins, core features, and modern-day relevance of the Indian Contract Act, while also examining its strengths and limitations through a legal lens. What is a Contract? At its essence, a contract is an agreement enforceable by law. Under Section 2(h) of the Indian Contract Act, “An agreement enforceable by law is a contract.” This definition incorporates two vital elements: agreement (i.e., offer and acceptance) and legal enforceability . The distinction between an agreement and a contract is central to the Act. While all contracts are agreements, not all agreements are contracts. Historical Background of the Indian Contract Act,...

 In 2025, domestic arbitration continues to grow as a preferred method of dispute resolution across India’s commercial and legal ecosystems. With court dockets overflowing and judicial delays persisting, businesses, institutions, and professionals are increasingly turning to arbitration to resolve disputes efficiently and privately. Whether it’s in Delhi, Mumbai, or Kolkata, the demand for structured, enforceable, and time-bound arbitration is on the rise—prompting clients to seek guidance from credible arbitration firms in major metros. This article explores the evolving legal and practical landscape of domestic arbitration in India today, while also offering context on how the system functions in key legal hubs including Delhi , Mumbai , and Kolkata . Why Domestic Arbitration Matters in India’s Legal Framework The Arbitration and Conciliation Act, 1996 (as amended), has long provided the legal architecture for arbitration in India. The recent focus of reforms has been to re...

 In today's competitive and fast-paced corporate environment, conducting thorough due diligence is essential before making any significant investment or business decision. Whether it's a merger, acquisition, joint venture, or funding arrangement, legal due diligence acts as the first line of defense to protect investment and minimize risk. At MCO Legals , we understand that smart investments require smarter legal strategies. What Is Legal Due Diligence? Due diligence refers to a detailed investigation of all legal, financial, and operational aspects of a company or asset before finalizing a business transaction. It aims to identify existing or potential risks, regulatory non-compliance, and financial red flags. Our corporate law firm services ensure a strategic review of all legal documents including contracts, litigation history, statutory records, compliance reports, and intellectual property rights. This process allows stakeholders to make informed decisions and reneg...

 In the ever-evolving fabric of India’s judicial landscape, few names resonate with reform and fearlessness like Indira Jaising . The senior advocate’s legal battle against the Supreme Court of India , demanding transparency in judicial appointments, wasn't just a case—it was a movement. At the heart of it lay one critical question: Can a democracy thrive without transparency in its highest institution? The Case That Stirred the Bench In 2018, Indira Jaising filed a plea seeking the publication of decisions and reasons behind the Supreme Court Collegium's appointments and transfers . While the judiciary claimed the collegium system is based on "institutional integrity", Jaising argued for public accountability . The petition didn’t just challenge procedure—it questioned a tradition wrapped in secrecy. Although the Supreme Court eventually dismissed the plea, the discourse sparked by Jaising's action brought judicial transparency to the forefront of national deb...

  In today’s business landscape, disputes are inevitable. However, resolving these disputes through traditional litigation can be time-consuming, expensive, and complex. This is where domestic arbitration emerges as a preferred alternative, offering a faster and more cost-effective dispute resolution mechanism. At MCO Legals , we specialize in providing expert arbitration services, ensuring that businesses, individuals, and organizations resolve their disputes efficiently while protecting their legal rights. Learn more about our arbitration and corporate restructuring services here: MCO Legals - Domestic Arbitration and Asset Management, Insolvency & Corporate Restructuring . What is Domestic Arbitration? Domestic arbitration is a legally binding dispute resolution process conducted within the same country under national arbitration laws. Unlike litigation, which involves court proceedings, arbitration allows disputing parties to settle conflicts privately with the help of...