MindWiz

Are Cryptocurrencies, like Bitcoin or Ethereum, legal in India? As on date of writing this update (ie. 05th January, 2022), India does not ban or prohibit circulation or operation of Cryptocurrency in any manner. However, there isn't any regulatory framework either, and the Government is seemingly working into this aspect. Few weeks back, sometime in October, 2021, it was announced that a Bill relating to creation of a regulatory framework will be tabled in the Parliament, but that did not happen and the same was deferred by the Government. Previously, sometime back on 06th April, 2018, the Reserve Bank of India had, vide a circular, advised the Banks to not to permit settlement in respect of transactions to or from the Crypto exchanges. This circular of 06th April, 2018, was subsequently struck- down by the Hon'ble Supreme Court of India , on 04th March, 2020, holding the same to be 'disproportionate', in its judgement in  Internet & Mobile Association vs. Reserve

Should a person, go for an IBC petition before NCLT, or, an ordinary Civil suit, to recover his or her money? Many litigants must also be seeing various professionals encouraging people to lodge claims under the IBC as that gives a speedy remedy? Even the Government claims to have made a breakthrough with this newly codified law on Insolvency. So, should a litigant prefer the IBC to recover its money………. is it that simple? Let’s discuss!  IBC or Civil Suit: A Litigant’s perspective   “Nothing is as it seems. Black can appear white when the light is blinding but white loses all luster at the faintest sign of darkness.” The Insolvency & Bankruptcy Code (or the IBC as referred to usually) came in force in the year 2016, replacing practically all laws that dealt with the subject of insolvency and bankruptcy. At present however, what is in force are the provisions that relate to the Companies or its Guarantors. I say ‘practically all laws’ and not ‘all laws’ because still certain erstwh

  As the Covid- 19 Crisis continues, and Courts and Tribunals working with restrictions, can a Litigant still initiate a claim? If no, will the Litigant's claim lapse if the limitation period expires during the lockdown ? And what happens if there is a delay in filing? These are some of the many issues which are puzzling the Litigants today. Because, Courts or Tribunals are working with several restrictions due to the Covid- 19 crisis. And even if some courts have opened their counters, the people (whether the litigants or their advocates, etc.) are apprehensive to visit the courts. And such apprehensions are not unfounded given the various instances of the Court staff and Advocates getting infected. If we talk about Delhi Courts, recently it came in news that one Public Prosecutor who was positioned at Saket District Court was tested positive for Corona Virus. Prior to that we came to know of an instance where the Court Clerk of Mr. Rajiv Nayyar (Senior Advocate) succumbed to the