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§ II

Case Studies

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In Re case-study

Case Study: Delhi Metro Rail Corporation Ltd. v. Delhi Airport Metro Express Pvt. Ltd.

The Supreme Court allowed DMRC’s curative petition, setting aside a "patently illegal" arbitral award. The Court ruled that conflating "curing defects" with "taking effective steps" and ignoring vital CMRS safety evidence caused a grave miscarriage of justice, creating an undeserved windfall.
2026 · 11 min read Held
Judgment
In Re case-study

Case Study: Rejanish K.V. v. K. Deepa

The Supreme Court in Rejanish K.V. v. K. Deepa (2025) held that judicial officers with seven years of prior advocacy are eligible for direct recruitment as District Judges under Article 233(2), overruling Dheeraj Mor and affirming equality in eligibility.
2025 · 6 min read Held
Judgment
In Re case-study

Case Study: Sri Hansraj Koley v. The Secretary, Labour Department and Others

In Sri Hansraj Koley v. The Secretary, Labour Department (WPA 10043 of 2025), Calcutta HC held guest faculty not a "workman" under Industrial Dispute Act, 1947, as they are not regularly employed and receive honorarium, not wages, dismissing the writ petition.
2025 · 2 min read Held
Judgment
In Re case-study

Case Study: Philip Morris v. Uruguay

The Philip Morris v. Uruguay case reaffirmed states' rights to regulate in the public interest, particularly for health measures. The ICSID tribunal ruled that Uruguay's tobacco regulations did not constitute expropriation or unfair treatment, setting a key precedent.
2025 · 5 min read Held
Judgment
In Re case-study

Case Study: Siemens A.G. v. The Argentine Republic

The Siemens v. Argentina case reaffirmed investor protections under BITs, ruling Argentina’s termination of Siemens’ contract as unlawful expropriation. The ICSID tribunal awarded Siemens over $217 million, reinforcing fair treatment and state obligations in investment disputes.
2025 · 5 min read Held
Judgment
In Re case-study

Case Study: SD Myers v. Canada

The SD Myers v. Canada case set key precedents in NAFTA arbitration, clarifying national treatment, minimum standard of treatment, and damages in non-expropriation cases. The Tribunal found Canada's PCB export ban discriminatory, awarding SDMI CAN$6 million in compensation.
2025 · 5 min read Held
Judgment
In Re case-study

Case Study: Metalclad Corp. v. United Mexican States

Metalclad v. Mexico highlights indirect expropriation under NAFTA, where regulatory actions deprived an investor of economic use. The tribunal ruled in favor of Metalclad, awarding $16.5M, but a Canadian court partially annulled the decision, limiting its scope.
2025 · 5 min read Held
Judgment
In Re case-study

Case Study: Tecnicas Medioambientales Tacmed S.A. (Tecmed) v. Mexico

The Tecmed v. Mexico case (ICSID Case No. ARB(AF)/00/2) established that politically motivated regulatory actions can constitute expropriation. The tribunal ruled that Mexico’s refusal to renew a landfill permit violated investor protections, awarding $5.5M in damages.
2025 · 4 min read Held
Judgment
Columns 20 min read

The Company That Isn't Selling — OYO's Zero-OFS IPO

OYO's zero-OFS IPO, and the case for a software business wearing a hotel uniform. A reading of Oravel Stays' ₹6,650 crore fresh issue: what the absence of an Offer for Sale signals, how an asset-light AI-run platform earns software-like margins inside hospitality, and where the real risks sit.

Sushant Shukla
Contributor
Jul 02
Columns 23 min read

OYO's Updated DRHP: Inside India's Most Anticipated Hospitality IPO

After two failed attempts spanning five years, OYO — now operating under parent entity PRISM (formerly Oravel Stays Limited) — has cleared SEBI's gate for a third bid. A section-by-section reading of the 29 June 2026 UDRHP-I.

Sushant Shukla
Contributor
Jun 30
Columns 13 min read

The Lawyer's Edge: How to Leverage AI Without Surrendering Privacy, Quality, or Cost Control

AI is arriving in legal practice not as a faster typewriter but as a junior associate who reads at 200,000 words a minute and costs a coffee per task. A practical guide to capturing the upside without the unforced errors that have begun to fill state bar disciplinary dockets.

Sushant Shukla
Contributor
Jun 27
Columns 8 min read

Many Minds, One Counsel: On the Renaissance of Legal Reasoning in an Age of Artificial Intelligence

A lawyer's mind is a courtroom in which several advocates are always speaking at once. The art is in hearing all of them. On the quiet renaissance reshaping the profession beneath our hands, and why the externalisation of reasoning, not merely recall, is the change that matters.

Sushant Shukla
Contributor
Jun 27
Columns 19 min read

Implementing the RBI's 2026 Model Risk Guidance: Frameworks, Validation, Frontier AI, and the India Context

Technical and operational guide to implementing the RBI's 2026 Model Risk Management draft. NIST AI RMF and ISO/IEC 42001 as anchors, the SR 11-7 lineage, validation toolkit and its limits on foundation models, frontier AI risks, IndiaAI Mission, and a ten-point implementation checklist.

Sushant Shukla
Contributor
Jun 26
Columns 18 min read

The Legal Architecture Around the RBI's 2026 Model Risk Draft: DPDPA, CPA, Competition Act, and the IMAI Question

How the RBI's 2026 Model Risk Management draft interacts with the Digital Personal Data Protection Act, the Consumer Protection Act, the Competition Act, and the Supreme Court's IMAI judgment on guidance enforceability. Five regulatory-interaction clauses the final Guidance should add.

Sushant Shukla
Contributor
Jun 26
Columns 20 min read

Twenty-four Asks of the RBI: A Detailed Comment on the 2026 Model Risk Management Draft

A clause-by-clause comment record on the RBI's 2026 draft Guidance on Model Risk Management. Proportionality, definitions, the black-box validation problem at paragraph 46, kill-switch operationalisation, DPDPA interaction, and a phased 18, 24, 36 month rollout. Twenty-four asks in one place.

Sushant Shukla
Contributor
Jun 26
Columns 24 min read

One Rulebook for the G-Sec Market: Decoding the RBI's 2026 Draft Master Direction on Secondary Market Transactions in Government Securities

The Reserve Bank's draft Master Direction collapses 36 legacy circulars into one rulebook for secondary market trading in Government securities. T+1 settlement as default, calibrated When Issued limits, short sale codified for all eligible entities, and a defined FEMA pathway for non-residents.

Sushant Shukla
Contributor
Jun 26
§ IV

Lex-O-Pedia

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Def. Lex-O-Pedia
Is an Arbitral Award Without Reasons Valid Under Irish Law?
Ireland's Arbitration Act 2010 lets parties agree to an arbitral award without reasons under Article 31(2) of the Model Law. What that agreement requires, the form rules that still apply, and the costs, interest and sale-of-goods remedies framework that governs commercial awards.
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Def. Lex-O-Pedia
Can a Company Reserve Sole Discretion to Settle Distributor Dues in Cash or Goods?
A termination clause letting the company alone decide whether a distributor's outstanding dues are settled in cash or in goods invites challenge under Section 23 of the Contract Act. Why unilateral settlement discretion fails the Brojo Nath Ganguly test, and how to redraft it.
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Def. Lex-O-Pedia
Can Shifting Tax Residency From India to the USA or UAE Avoid Capital Gains Tax?
An Indian professional who becomes a US tax resident and then claims UAE residency before selling shares in a US company runs into Section 6(1A) deemed residency, GAAR and the indirect-transfer rules. Why the zero-tax exit rarely survives scrutiny under Indian law.
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Def. Lex-O-Pedia
What Stamp Duty Applies to a Physical Transfer of Company Shares on Form SH-4?
Physical share transfers on Form SH-4 attract stamp duty at 0.015% of consideration under Article 62 of the Indian Stamp Act, 1899, payable by the transferor, uniform across India. The rate, valuation base, payment mechanics and the dematerialisation deadline now curtailing the physical route.
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Def. Lex-O-Pedia
Can a Tenant Compel Specific Performance of a Notarised Lease Deed?
Since the 2018 amendment, specific performance is the rule, not the exception. What a tenant holding a notarised but repudiated lease deed must plead and prove: readiness and willingness, mandatory injunction, interim protection and court fees.
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Def. Lex-O-Pedia
When Can a Party Withhold or Set Off Payments Under an Indian Service Agreement?
Indian law confines set-off and withholding to genuinely disputed, documented amounts. Section 59 of the Contract Act, mandatory MSMED interest, TDS mechanics and GST input-credit risk shape every payment clause in an Indian service agreement.
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Def. Lex-O-Pedia
How Can a Third Party Resist a Liquidator's Section 335 Examination in Singapore?
Section 335(3) of the IRDA lets the court compel third parties, including a bankrupt's relatives, to be examined and produce documents. How the two-stage Celestial test works, why oral examination is more vulnerable than document production, and the real limits, fishing expeditions, oppression and p
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Def. Lex-O-Pedia
When Can a Party Resist Contempt for Disobeying an Arbitral Tribunal Under Section 27(5)?
Section 27(5) of the Arbitration and Conciliation Act, 1996 lets a court punish contempt of an arbitral tribunal, but only on the tribunal's representation and only for wilful default. The defences a respondent can raise, from procedural prerequisites to strict construction and natural justice.
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