1. Sufficient Cause, Insufficient Clarity: Rethinking Stay of Execution in Civil Procedure – Anirud Raghav­

The “sufficient cause” standard makes an appearance in several portions of the Civil Procedure Code, 1908. Yet, it continues to elude interpretative clarity. This article critically examines the “sufficient cause” standard in Indian civil procedure, using Order XXI Rule 26 as a point of departure. It analyses statutory provisions and the prevailing judicial interpretations of the “sufficient cause” standard in various portions of the CPC and identifies the variable standards that influence its application. The article explains these variable interpretations by proposing a theoretical framework that comprises of two considerations: prejudicial potential of an interpretation (of sufficient cause), against the probability that such an interpretation advances substantive justice. Notably, this article also uncovers a troubling trend in the jurisprudence surrounding Order XXI Rule 26, where courts have either construed the “sufficient cause” standard exceptionally strictly or disregarded it entirely in favour of the rule’s stated purpose. This practice raises fundamental questions about the necessity and potential for misuse of stay provisions in execution proceedings. The article concludes by advocating for legislative reconsideration of the “sufficient cause” standard in Rule 26, suggesting either its removal or clarification. By illuminating the complexities and inconsistencies in the interpretation of “sufficient cause”, this article contributes to ongoing discussions on judicial standards and civil justice reform in India.

2. Artificial Intelligence in Corporate Insolvency: Transforming India’s Legal Landscape – Basil Gupta

In the context of a burgeoning backlog in Indian insolvency cases and a global paradigm shift in legal practices, this article delves into the transformative role of Artificial Intelligence (hereinafter, ‘AI’) in reshaping corporate insolvency frameworks. The article navigates historical underpinnings, global case studies, and India’s AI applications, unveiling a narrative that oscillates between challenges and opportunities. As it unfolds, the article seeks to not only underscore the urgent need for AI-driven solutions but also challenge preconceived notions about the integration of technology into the intricate fabric of insolvency practices. It scrutinises the potential, risks, and real-world applications, emphasising the indispensable nature of AI tools for professionals navigating the complexities of insolvency and restructuring cases. Through historical reflections, international benchmarks, and a nuanced exploration of India’s AI landscape, the article aims to provide a comprehensive understanding of the current state and future trajectory of AI in corporate insolvency. The analysis considers the ethical implications of adopting AI, the need for regulatory frameworks to guide its use, and the potential effects on job roles in the insolvency sector. It also evaluates the cost-benefit analysis of implementing AI solutions and discusses the challenges of data privacy and security concerning sensitive financial information. Ultimately, it positions AI as a catalyst for efficiency, transparency, and informed decision-making within the legal domain. The author endeavors to contribute valuable insights that propel legal professionals toward a tech-savvy future while navigating the nuanced challenges posed by the integration of AI in insolvency and restructuring processes, postulating a blueprint for viable and accountable AI adoption in the insolvency arena.

3. Assessing the Imperative for an Ex-Ante Competition Regime in India: A Critical Juxtaposition with OECD Principles – Tejaswini Kaushal and Vrinda Gaur

The Standing Committee’s 53rd Report on Anti-Competitive Practices by Big Tech Companies has emerged as a matter of debate and deliberation among stakeholders and experts. The debate unfolds with the lack of alignment of the report with the best regulatory standards, which evolved over some time under international jurisprudence, the most distinguished one being the regulatory paradigm elucidated by the Organisation for Economic Cooperation and Development (OECD). These recommended guidelines mainly set ten quintessential standards that any ideal skeleton of a regulatory blueprint should concur with. Keeping this fact in sight, it becomes imperative to scrutinise the committee’s recent recommendation in light of the benchmark set by the OECD to ascertain alignment with international best practices. Although the digital sector appears highly competitive post-COVID, with major platforms vying for dominance and economic recovery, this perceived contest often obscures the reality that entrenched big tech players employ anti-competitive practices to entrench their primacy, particularly to the detriment of smaller firms, as recognised by recent global and OECD analyses. Inspired by jurisdictions such as the European Union and the United States, India has embarked on its ex-ante expedition with little acknowledgement of the obstacles and uncertainties ahead. The paper delves into the intricacies that the proposed ex-ante regime is likely to reap with little concurrence with the OECD best practices and enumerates the best recourses in the interest of the country’s digital ecosystem. Additionally, it explores alternative mechanisms that facilitate swift enforcement of regulations to mitigate the risks posed by rapidly evolving digital markets.

4. Succession of Digital Assets: Challenges and Path to Delienate an Indian Framework – Smruti Kulkarni

In the rapidly advancing digital world, the pertinent issue of what would happen to digital assets after a person passes away has become a pressing concern. The paper begins by examining the emerging significance of digital assets, their various categories and the immense sentimental and economic value that individuals attribute to such prized possessions. However, the traditional Indian succession laws have not been able to cope with the evolving socio-legal realities, which leave a gap in addressing the ownership, transferability and inheritance of digital assets. This paper examines the issues and challenges that arise in the inheritance of digital assets. These challenges include the ambiguity surrounding ownership rights, the loss of estate, and the arbitrary imposition of terms and conditions by online platforms. The burden is further increased due to the rampant identity theft and copyright violations, which complicate the landscape for smooth digital inheritance.

To address these challenges, the paper undertakes a comprehensive overview of the development of digital inheritance laws in multiple jurisdictions, such as the EU, the US, and the UK. Deriving from these specific regulations, it proposes a tailored regulatory framework for India, not only consisting of legislative measures, but also other alternative changes to navigate the complex of digital succession.  The paper concludes by emphasising the imminent need to curate legislation specifically addressing digital inheritance provisions, reflecting the unique nature of digital assets. This would help in striking a balance between protecting an individual’s fundamental right to privacy and the universal law of succession.

5. Legal Structure of ODR in Digital Payments: India and Global Perspectives – Prof. (Dr.) Ritu Gupta

The COVID-19 pandemic ushered in sweeping changes to how people lived, worked, and socialised globally. A key transformation includes the growing reliance on digital platforms for both everyday activities and commercial exchanges. As a natural outcome, the public’s dependence on digital payment methods has surged. Although efficient and convenient in many ways, digital payment methods precipitate their own set of issues and challenges. To tackle these, the Reserve Bank of India on 6^th August 2020 introduced the Online Dispute Resolution (ODR) System on Digital Payments. The primary aim of the ODR System is to redress consumer grievances arising from failed electronic transactions. It is a transparent and impartial system, involving negligible human interference. It attempts to create a customer-friendly framework to deal with complaints arising out of failed digital payments.

The primary focus of this article is to analyse various aspects, provisions and procedures relating to the new Online Dispute Resolution System on Digital Payments. Furthermore, the study delves deep into the associated responsibilities and duties of the authorised Payment System Operators and Payment System Participants. The author, through this work, intends to highlight different issues that may emanate from this policy of the Reserve Bank of India.

6. From Resolution to Reversal: Supreme Court Scraps JSW’s BPSL Takeover, Reasons and Impact -Bhumesh Verma

The recent rejection of the resolution plan for acquiring Bhushan Power and Steel Ltd. (BPSL) by JSW Steel by the Hon’ble Supreme Court has sent shockwaves through the Indian corporate sector. Valued at ₹19,350 crore, this was one of the highest bids submitted since the introduction of the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016. This judgment is widely regarded as having significant implications for the Indian business environment. This paper critically examines the failure of CIRP in the high-profile JSW–BPSL acquisition, arising from the Supreme Court’s decision rendered nearly 6.5 years after the initiation of insolvency proceedings. The ruling underscores persistent challenges in implementing the IBC and exposes systemic loopholes exploited by stakeholders. The paper further analyses the procedural lapses and statutory non-compliance by stakeholders, namely the Committee of Creditors, Resolution Professionals, and JSW, with respect to Sections 12, 29A, and 30 of the IBC. Identified lapses include inadequate due diligence, payment delays, and misrepresentation. Beyond the legal dimensions, the paper also evaluates the financial and reputational impact on JSW, potential setbacks for financial creditors, and the chilling effect on investor confidence. These lapses call for an urgent need for reform in the substantive provisions and enforcement mechanisms of the IBC to restore its credibility and achieve its envisaged objectives of timely and effective corporate rescue.

7. The (New) Imitation Game: Examining Copyright Claims in Training Data Used in Visual Generative Models – Vineet Jadhav

Large language models have found their way into the mainstream of daily life. These models require rigorous training and development using literary and other artistic works created by humans as a reference point. This creates a tension between scientific and technological progress, and the rights of exclusive exploitation vested in the authors of these works by statute. With the rise of large language models, both in their use and in the development of novel ones, developers have been found to use copyrighted material to train and develop these AI models, leading to a rise in copyright-focused lawsuits in courts. This paper aims to examine copyright infringement claims that can arise as regards the use of copyrighted works in training visual generative models, which include chatbots and programs which generate images based on reference text or images. The paper examines the manner in which such models are trained, which serves as a primer for the technology involved. Different theoretical perspectives that arise as a result of the technical understanding of generative models are then discussed insofar as they contribute to answering questions of infringement and regulation. The paper also discusses several contemporary lawsuits filed and pending before courts which involve infringement claims against developers of generative models arising out of the use of copyrighted works to train their generative models. The paper concludes that claims under Indian law, maybe maintained on grounds of the rights to reproduction, communication to public, and an interpretation of fair dealing. Finally, suggestions are made to balance the rights of authors with the contemporary developments in Generative Artificial Intelligence.