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Showing posts from 2016

Bankruptcy Code: Will it be any different?

Soon after taking the oath of office, the Prime Minister asked the bureaucracy to improve India's ranking the in the annual World bank Ease of Doing Business Index. A nation's ranking on the index is based on the average of 10 sub indices of which the 3 sub indices that India fared poorly were: Resolving Insolvency,Enforcing Contracts and Trading Across Borders.Taking these 3 broad points, the government has worked out the GST Bill to boost trade,Insolvency and Bankruptcy Code for faster and efficient bankruptcy process and the National Judicial Accountability Commission (NJAC) to reform the judiciary for better enforcement of contracts. With the GST Bill caught in political quagmire and the NJAC in the hands of judicial review, the government decided to proceed with the Insolvency and Bankruptcy Code. With the passage of the bill in Lok Sabha it now moves to Rajya Sabha for its approval. This is one such bill that enjoys support acr...

Is it vendetta?

On 18 March,2016 the Government of Uttarakhand failed to pass the Appropriation Bill on the floor of the house. This meant that the state did not have a budget and the government of the day did not enjoy the majority. However, the Government claimed it had the numbers despite 9 members of the ruling party rebelling (also disqualified by the Speaker). On 20 March, the Governor asks the CM to prove his majority in the house on 28th March 2016. This was followed by widespread allegations and sting operations that showed horse trading of MLAs. Do mere allegations and unsubstantiated videos amount to  "Constitutional Breakdown"? Honestly,I don't know.It is best left for the legal experts to decide. But the Central Government, in all its wisdom, thought it was a fit case to impose President's Rule. So an Emergency Cabinet Meeting was held on Saturday evening (26 March) and the next morning the President signed the proclamation under Article 356 of the Constitution of ...