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  INTRODUCTION GenAI as we know it today began with the advent of deep learning based on neural networks. Currently, GenAI is one of the most powerful examples of machine learning. Compared to older rule-based AI applications that could only perform a single task, modern GenAI models are trained using data from a variety of domains, without task limitations. For example, traditional chatbots follow pre-determined answers and rely on predefined rules to interact with users, making them suitable for only specific tasks. In contrast, modern GenAI chatbots such as ChatGPT and Google Gemini can generate human-like text, allowing for conversations that can adapt to many topics without being limited to pre-determined scripts. Moreover, these modern chatbots can generate not only text, but also images, music and computer code based on the datasets they are trained on. MAIN BLOG According to the WIPO Patent Landscape Report on GenAI, India ranks 5 th globally with 1350 patents, after...

  “Corporate Governance” means the process and structure used to direct and manage business affairs of the corporate body towards enhancing prosperity and corporate accounting with the ultimate objective of realizing shareholders’ long-term value while taking into account the interests of other stakeholders. “Good corporate governance seeks to attract capital, to ensure proper company management and administration (mainly for those that issue securities on stock exchanges), to protect investors and other interest groups’ rights, to build confidence in financial markets, and to promote competitiveness.” [1] In recent times, investors, regulators, and other stakeholders have increased their focus on Environmental,Social, and Governance (ESG) Factors of the firm while assessing the long-term sustainability of the firm. These ESG Factors include a range of issues from ethical governance practices, corporate social responsibility, environment-friendly abilities of the firm, and susta...

    Introduction The Insolvency and Bankruptcy Code 2016 (hereinafter referred to as the IBC) was introduced to provide framework for resolving any issues relating to insolvency and bankruptcy. It applies to various entities including individuals, firms, LLPs), etc, but excludes entities like societies, trusts, and boards. While insolvency and bankruptcy may seem similar, they entail distinct concepts. Insolvency pertains to situations where an entity's charges exceed its possessions, rendering it unable to meet its debts. Bankruptcy involves a court decree declaring an entity insolvent upon its application. The code is applicable in cases of voluntary closure or liquidation of a company.   Summary Procedure for ascertaining existence of debt default by NCLT ◦          Section 7(4) of the IBC sates that NCLT must first ascertain the existence of any default by way of provided records or on the basis of any other such evide...