Indian Law Lab

GUEST POST: BY AYUSHI H DANGRE In the Indian Code of Bankruptcy (2016), under section 14, it provides for a moratorium. This moratorium exists only in suits against corporate debtors. The next question arises is, if a vessel would qualify as a corporate debtor. Section 3(8) mentions that corporate debtor includes a corporate person. Section 3(7) defines a corporate person. This is an inclusive definition and excludes a vessel. A vessel is recognized to be an entity separate from its owner/ company. The case of M.V Elisabeth and Ors clarifies this position “ In admiralty the vessel has a juridical personality, an almost corporate capacity, having not only rights but liabilities (sometimes distinct from those of the owner) which may be enforced by process and decree against the vessel, binding upon all interested in her and conclusive upon the world, for admiralty in appropriate cases administers remedies in rem, i.e., against the property, as well as remedies in personam, i.e....

According to the Explanation of Section 31A(1) of the Arbitration and Conciliation Act 'Costs' includes administration fees of the arbitral institution. If parties refer their dispute(s) to an arbitral institution, it is imperative to be acquainted with the administrative fees of the arbitral institution. The administrative costs are fixed by the arbitral institution in accordance with their respective rules. It is often postulated by experts that arbitration is cheaper than litigation. However, in most cases, alternative dispute resolution is not as cost effective as litigation. Therefore, the issue of administrative fees has to be considered before resolving the dispute(s) through arbitration. This write up is w.r.t. the administrative cost incurred during the arbitration proceedings. As guidance, the below brief describes the administrative fees of the institution supervising the arbitration. Info Last Updated: May 11, 2019 . 1. ASSOCHAM ...