The Shivashakti Sugars Limited vs Shree Renuka Sugars Limited judgment has very lucidly raised the importance of economic welfare of india to attain the status of a developed nation and that the Courts must contribute in the capacity best suited them.
Recently, the Hon’ble Supreme Court in Shivashakti Sugars Limited Vs Shree Renuka Sugars Limited and others [(2017) 7 SCC 729] revisited the jurisprudence on the interface between law and economics. The commercial impact of judicial decisions is important more than ever as our nation has stepped into an era of economic liberalization and is on the path of economic growth. The psyche behind the judgment can best be understood from the observation that India has been a developing country for a number of decades and efforts at all levels are being made to ensure that India becomes a developed economy. And, the judiciary while performing judicial functions is also required to perform its role in the direction of safeguarding India in all its national interests including the progression to a developed economy.
There is a rising consensus about the need to understand the economic implications of judicial decisions. No doubt, legal scholars and courts in various other nations have been spearheading the jurisprudence of law and economics. However, Indian courts are recognizing the importance of economic impact of judicial decisions more than ever. What else can be a better example of it than the above stated recent judgment wherein the Hon’ble Supreme Court observed that it is the bounden duty of the courts to have an economic analysis of its decisions.
هذه القصة مأخوذة من طبعة December 2017 من Legal Era.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 2017 من Legal Era.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
If You Think Positive Covid Is A Big Opportunity
Senior Vice President and Head of Legal, ESSAR CAPITAL, Badrinath Durvasula, holds forth on his professional journey, the essence of leadership, working from home, books and more…
PROJECT DEVELOPMENT
JOINT VENTURE TRANSACTIONS
NEW ARBITRATION RULES
PUBLISHED BY THE LONDON COURT OF INTERNATIONAL ARBITRATION (LCIA) AND INTERNATIONAL CHAMBER OF COMMERCE (ICC)
M&A in the time of COVID and beyond
What is clear for those engaging in cross-border M&A is that countries around the world are becoming increasingly protective of their economies and industries, with new rules being introduced and existing rules being more widely applied
SWITZERLAND A DIFFERENTIATED APPROACH TO FRAUD
Swiss law interprets the offense of fraud in a special way where in addition to the characteristics of deception and damage as known in many jurisdictions, a qualified lie, i.e. a malicious approach, is required
JOINT VENTURE DISPUTES MEDIATING
Mediation has shown itself to be a powerful tool for bringing a speedy and effective end to crossborder disputes while preserving the commercial relationship between them.
Recognition of HONG KONG INSOLVENCY PROCEEDINGS IN MAINLAND CHINA
A TEST CASE IN THE MAKING?
CONFIDENTIALITY IN ARBITRATION: RECENT DEVELOPMENTS IN SINGAPORE
Two recent developments in Singapore case law and legislation reflect a willingness to preserve confidentiality related obligations in all arbitrations
ESSENTIAL GOODS SERVICES UNDER IBC
WHAT DOES IT ESSENTIALLY MEAN?
A BIDEN ADMINISTRATION'S NEW VISION FOR THE AMERICAN WORKPLACE
A LOOK AT THE KEY CHANGES PRESIDENT-ELECT BIDEN IS LIKELY TO MAKE ONCE HE TAKES OFFICE