News & Insights

The term ���Intermediary�۪ has been defined in clause (w) of sub-section 1 of section 2 of the Information Technology Act, 2000 (��� IT Act�۝) as ���any person who on behalf of another person receives, stores or transmits an electronic record or provides any service with respect to that record and includes telecom service providers, network service providers, internet service providers, web-hosting service providers, search engines, online payment sites, online-auction sites, online-market places and cyber cafes�۝.

The Arbitration and Conciliation Act, 1996 (���Act�۝) was enacted to have a unified legal framework for domestic arbitration, international arbitration and enforcement of foreign awards. This Act has been widely adopted from the UNCITRAL Model Laws. The UNCITRAL Model Laws emphasize on the party autonomy[1] by which the parties are free to choose the procedure for arbitration.

In daily parlance, certain words appear to be familiar, but their purport, import and subtlety need to be understood, which requires extensive knowledge, skill of interpretation and ability to grasp the context. A layperson may find it difficult to understand the subtlety and the nuances of the words, but such ignorance is not excusable for a professional, particularly for a practicing lawyer.

Increased globalisation and rapid moving operations have resulted in corporations leaving no stone unturned in attempting to match the demands of the global scenario. More specifically, the venture capital market has been encouraging Indian companies, start-ups to be precise, to align themselves with the world economy.