SCHOOL OF LAW

Internship Program

Submitted as per the requirement of the course curriculum of

“Internship” in School of Law for internship at
Mantrah Law House LLP, New Delhi
from April 1, 2024, to April 28, 2024

Submitted by: Submitted to:

Nandhana Madhu Internship and Placement Committee
L19BALB040 Dr. Daksha Sharma
BA.LLB (Batch-B) Assistant Professor Law
 TABLE OF CONTENT
S.NO. CONTENT PAGE NO.

1.

Acknowledgement 3

2.

Declaration of Originality 4

3.

Abbreviation 5

4. Abstract 6

5. Objectives of Internship 7

6. Nature of work 8

7. Task Assigned & Task Accomplished 9-12

8. Overall learning outcome 13

9. Conclusion 14

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 ACKNOWLEDGEMENT

Interning at Mantrah Law House LLP was a pivotal experience for my professional growth, and
I feel incredibly fortunate to have been given this opportunity. Throughout my time at the firm,
I acquired a multitude of new skills, particularly honing my drafting abilities, which I know will
serve me well in my future career as a lawyer.

I am deeply grateful to Dr. Prof. Daksha Sharma, the Convenor of the Internship and Placement
committee, for facilitating this internship opportunity with such a prestigious firm. I would also
like to extend my heartfelt thanks to Adv. Ashok Juneja Sir for generously sharing his time and
knowledge with me during the internship. Despite his busy schedule, he took the time to mentor
me and impart crucial skills that will undoubtedly shape my legal career.

I am thankful for the invaluable advice and guidance provided by the company, which greatly
enhanced my academic understanding and practical skills. The opportunity to draft several
agreements during my internship was particularly enriching and allowed me to grasp the
fundamentals of drafting.

The firm fostered a relaxed and supportive work environment, and I am grateful to my
colleagues for their generosity in assisting me with drafting and filing tasks. Overall, this
internship has been an exceptional learning experience that has equipped me with the
knowledge and skills necessary to pursue my career ambitions. I am committed to continuing
my personal and professional development to achieve success in the legal field.

Nandhana Madhu

L19BALB040
BA.LLB (Batch-B)

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 DECLARATION OF ORIGINALITY

I, Nandhana Madhu, with Enrolment No: L19BALB040 Student of BA.LLB (Batch-B) at

School of Law, Bennett University, do hereby declare that the material presented in the
internship report represents original work carried out by me during my internship at Mantrah
Law House LLP from 01/04/2024 to 28/04/2024.

With my signature I certify that: -

•I have not manipulated any of the data or results.

•I have not committed any plagiarism of intellectual property.
•I have clearly indicated and referenced the contributions of others.
•I have explicitly acknowledged all collaborative research and discussions.
•I have understood that any false claim will result in severe disciplinary action.
•I have understood that the work may be screened for any form of academic misconduct.

Date: 3/5/2024

Student Signature

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 ABBREVIATIONS

S.NO ABBREVIATIONS WORD

1. LLP Limited Liability Partnership

2. HC High court

3. Vs. Versus

POA
4. Power of Attorney

5. NDA Non-disclosure Agreement

6. M/S Messrs

7. Anr. Another

8. IPC Indian Penal Code

9. IPR Intellectual Property Rights

10. S. Sections

11. Ors. Others

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 ABSTRACT

This internship report outlines my experience at Mantrah Law House over a four-week period,
during which I engaged in various legal tasks aimed at exploring corporate law principles and
their practical applications. The report details the tasks assigned and accomplished each week,
including delving into concepts such as "Nemo Judex in Causa Sua" and evaluating the validity
of default records maintained by Information Utilities. Additionally, the report highlights my
involvement in drafting petitions under the Companies Act and the Insolvency and Bankruptcy
Code, as well as participating in due diligence tasks and compliance reviews related to mergers
and acquisitions. Through these experiences, I gained valuable insights into the complexities of
corporate law, honed my legal research and drafting skills, and developed a deeper
understanding of regulatory frameworks and compliance requirements. The report concludes
with reflections on the overall learning objectives achieved during the internship and the
valuable contributions made to the legal team at Mantrah Law House.

OBJECTIVES OF INTERNSHIP

The Main Objective of the internship was to provide the in-depth understanding of corporate
and commercial transactions. The understanding of drafting contracts was also one of the main
objectives of the Internship. It also aimed at providing exposure in order to handle various
state and central legislations relating to corporate law and their allied rules and notifications.

Enabling us to relate the different areas of legal practice to the importance of developing the
skills of legal research, communication, negotiating, drafting, practice management and
problem-solving. Understanding the clerical side of being a corporate professional in India by
understanding the various documental processes in the contract agreements, sale purchase
agreements, compliance with the taxation laws, trademark infringement suits and client
deposition settlements.

Enabling us to observe and reflect upon the values, ethical standards and conduct of the legal
profession in practice and to develop our own attitudes toward professional responsibility.
Observing and noting the skills of an eminent corporate lawyer used during the process of
dealing with clients, co-employees, and senior managers ranging from commercial clients to
family-based clients.

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 NATURE OF WORK

During my internship at Mantrah Law House, I engaged in a diverse range of legal tasks aimed
at exploring various aspects of corporate law and honing my skills in legal research, drafting,
and analysis. The nature of my work encompassed:

1. Legal Research:
- Conducting in-depth legal research to understand and analyze the regulatory frameworks
governing specific areas of law, such as mergers and acquisitions, corporate governance, and
insolvency. This involved studying relevant statutes, regulations, case law, and legal precedents
to develop a comprehensive understanding of the legal landscape.

2. Drafting Legal Documents:

- Drafting petitions under Sections 241 and 242 of the Companies Act and Section 7 of the
Insolvency and Bankruptcy Code to address instances of oppression, mismanagement, and
insolvency within companies. Additionally, drafting documents such as the Letter of Intent,
Confidentiality Agreement, and Exclusivity Agreement in the context of mergers and
acquisitions.

3. Due Diligence:
- Participating in extensive due diligence tasks by examining corporate records, financial
statements, contracts, and regulatory filings of companies involved in mergers and acquisitions.
This involved ensuring compliance with regulatory standards and identifying potential risks or
liabilities associated with corporate transactions.

4. Compliance Review:
- Reviewing regulatory requirements and compliance standards governing mergers and
acquisitions, Information Utilities, and corporate insolvency resolution processes. This included
verifying the authenticity of registration details, directors' information, and regulatory filings
through comprehensive background checks.

5. Support to Legal Team:

- Providing support to senior associates and legal team members by assisting in meeting
preparations, gathering relevant materials, preparing agendas, and documenting proceedings.

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This involved actively engaging with tasks and responsibilities entrusted to me, despite
limitations on access to certain information.

Overall, the nature of my work during the internship was multifaceted and provided me with
invaluable practical experience in navigating complex legal issues, collaborating with legal
professionals, and contributing to meaningful legal outcomes in corporate transactions.

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 TASKS ASSIGNED & TASK ACCOMPLISHED

WEEK 1: April 1st - April 7th, 2024

During the first week of my internship at Mantrah Law House, I undertook two tasks aimed at
exploring legal principles and their practical applications. In the first task, I delved into the
concept of "Nemo Judex in Causa Sua" in relation to the RBI master circular on willful
defaulters. This involved scrutinizing the procedures outlined by the Reserve Bank of India
(RBI) for identifying instances of willful default and subsequent review processes. Through
extensive research, I uncovered flaws in the system where internal committees responsible for
determining willful defaulters held a vested interest in the outcome, thereby violating principles
of natural justice. This analysis highlighted potential legal implications and challenges within
the banking sector.

In the second task, I analyzed the structural aspects of Alternative Investment Funds (AIFs)
concerning their role in facilitating trade transactions through Vostro accounts. Utilizing a
specific case involving an Indian pharmaceutical exporter and a Russian importer, I delved into
the intricacies of international trade settlements and financial intermediation. By proposing
innovative solutions, such as invoicing trades in INR and leveraging AIFs for fund transfers, I
aimed to mitigate risks and enhance efficiency in cross-border transactions. These tasks
provided valuable insights into legal frameworks and financial mechanisms, allowing me to
apply theoretical knowledge to real-world scenarios. Through rigorous research and analysis, I
contributed to exploring solutions for complex legal and financial challenges faced by clients.
WEEK 2: April 8th - April 14th, 2024
During my second week at the law firm, I was tasked with evaluating the validity and
evidentiary value of default records maintained by Information Utilities (IUs) as conclusive
proof of debt or default. This undertaking necessitated a comprehensive review of the
regulatory framework governing Information Utilities, with a specific focus on Sections 209 to
216 of the Insolvency and Bankruptcy Code, 2016, and the Insolvency and Bankruptcy Board
of India (Information Utilities) Regulations, 2017.
In conducting this analysis, I explored the legal complexities surrounding IU records,
particularly considering their resemblance to preliminary decrees issued without adjudication.
This resemblance formed the basis of a constitutional challenge against the Insolvency and
Bankruptcy Code. Drawing insights from the pivotal case of Swiss Ribbons Pvt. Ltd. v. Union
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of India, I examined the Supreme Court's ruling that IU records serve as prima facie evidence of
default, which can be rebutted by the corporate debtor.
Furthermore, I meticulously scrutinized IU regulations, identifying potential gaps such as
concerns regarding data manipulation, privacy issues, and potential misalignment with the
broader objectives of the Insolvency and Bankruptcy Code.
Information Utilities play a crucial role in the insolvency resolution process by acting as
repositories of financial information related to debtors. They are professional organizations
registered under Section 210 of the Insolvency and Bankruptcy Code, 2016, tasked with
gathering, validating, and disseminating financial information from companies and creditors to
facilitate insolvency, liquidation, and bankruptcy proceedings.
Through this task, I gained valuable insights into the legal intricacies surrounding Information
Utilities and their role in the insolvency resolution process. It provided me with a deeper
understanding of the challenges and considerations involved in leveraging IU records as
conclusive proof of debt or default, contributing to my overall growth and development in the
field of law.
WEEK 3: April 15th - April 21st, 2024
During the third week of my internship at the law firm, I was tasked with drafting petitions
aimed at addressing instances of oppression, mismanagement, and insolvency within
companies, thus strengthening my drafting skills and enhancing my understanding of corporate
and insolvency laws.
Firstly, I drafted petitions under Sections 241 and 242 of the Companies Act, focusing on cases
of oppression and mismanagement. These sections empower shareholders to seek relief from
the National Company Law Tribunal (NCLT) when their interests are prejudiced by oppressive
actions or mismanagement by the company's management or majority shareholders. My role
involved meticulously crafting petitions that delineated the specific grievances of the
shareholders and presented legal arguments supported by case law and statutory provisions. The
objective was to demonstrate the necessity of NCLT intervention to safeguard shareholder
rights effectively.
Additionally, I undertook the drafting of a petition under Section 7 of the Insolvency and
Bankruptcy Code (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against
a defaulting corporate debtor. Section 7 of the IBC empowers financial creditors to initiate
insolvency proceedings against a defaulting corporate debtor. In this capacity, I prepared a
comprehensive petition outlining the creditor's claim, detailing the default committed by the
debtor, and justifying the necessity of initiating the CIRP to address the financial distress faced

1
by the creditor. This involved conducting thorough due diligence to gather evidence of the debt
default and ensuring compliance with procedural requirements under the IBC. My
responsibilities encompassed drafting the petition, compiling supporting documents, and
liaising with legal counsel to ensure adherence to legal standards and maximize the petition's
success in the insolvency proceedings.
WEEK 4: April 22nd - April 28th, 2024
During my fourth week at Mantrah Law House, I had the opportunity to contribute to the
management of a significant merger between two prominent tech companies, Tech Innovations
Inc. and NextGen Solutions Ltd. This marked my first foray into the practice area of Mergers
and Acquisitions (M&A), where I played a pivotal role in supporting senior associates in
various aspects of the merger process.
My responsibilities began with conducting thorough legal research to gain a comprehensive
understanding of the governing provisions related to mergers and acquisitions. This involved
compiling detailed summaries to guide our merger strategy and ensure compliance with
regulatory standards.
To ensure transparency and regulatory compliance, I conducted comprehensive background
checks on both merging entities using resources such as the Ministry of Corporate Affairs
(MCA) website. This involved verifying the authenticity of their registration details, directors'
information, and regulatory filings.
Following this, I participated in extensive due diligence tasks alongside my team members,
examining the corporate records, financial statements, contracts, and regulatory filings of both
companies. This meticulous review provided valuable insights to the legal team and helped
identify any potential risks or liabilities associated with the merger.
Additionally, I reviewed crucial documents drafted by senior associates, including the Letter of
Intent (LOI), Confidentiality Agreement (CA), and Exclusivity Agreement, which laid the
groundwork for subsequent negotiation phases.
Throughout these tasks, I provided steadfast support to the legal team by assisting in meeting
preparations, gathering relevant materials, preparing agendas, and documenting proceedings.
Despite limitations on access to certain information and the scope of work assigned to me as an
intern, I actively engaged with every opportunity available to maximize my exposure and
learning.
This experience provided me with invaluable practical insights into the intricacies of mergers
and acquisitions, honing my research, analytical, and organizational skills. I am grateful for the
opportunity to contribute to such a significant transaction and look forward to further

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opportunities for growth and learning in the field of corporate law.

OVERALL LEARNING OUTCOME

1. Gain a comprehensive understanding of legal principles and their practical applications:

- Through tasks such as analyzing the concept of "Nemo Judex in Causa Sua" and evaluating
the validity of default records maintained by Information Utilities, I aimed to deepen my
understanding of legal principles and their implications in real-world scenarios.

2. Develop expertise in specific areas of law:

- By delving into areas such as mergers and acquisitions, corporate governance, and
insolvency, I sought to develop specialized knowledge and skills essential for a career in
corporate law.

3. Enhance drafting and research skills:

- Drafting petitions under various sections of the Companies Act and the Insolvency and
Bankruptcy Code provided me with valuable experience in crafting legal documents and
conducting thorough legal research to support legal arguments.

4. Understand regulatory frameworks and compliance requirements:

- By navigating regulatory frameworks governing mergers and acquisitions, Information
Utilities, and corporate insolvency resolution processes, I aimed to gain insight into compliance
requirements and regulatory considerations in corporate transactions.

5. Foster teamwork and collaboration:

- Working alongside senior associates and team members on complex legal tasks allowed me
to develop effective communication and collaboration skills essential for working in a legal
team environment.

6. Maximize learning opportunities and adaptability:

- Despite limitations on access to certain information and the scope of work assigned, I strived
to make the most of every opportunity available, demonstrating adaptability and a proactive
approach to learning and professional development.
CONCLUSION

My internship experience at Mantrah Law House has been enriching and rewarding,
providing me with invaluable insights into the complexities of corporate law and practical
applications of legal principles. Over the course of four weeks, I had the privilege of
engaging in diverse legal tasks that expanded my knowledge, honed my skills, and deepened
my understanding of the legal profession.

From delving into the concept of "Nemo Judex in Causa Sua" to evaluating the validity of
default records maintained by Information Utilities, I gained a comprehensive understanding
of legal principles and their implications in real-world scenarios. Analyzing regulatory
frameworks governing mergers and acquisitions, corporate governance, and insolvency
1
allowed me to develop specialized knowledge essential for a career in corporate law.

Drafting petitions under various sections of the Companies Act and the Insolvency and
Bankruptcy Code provided me with hands-on experience in crafting legal documents and
conducting thorough legal research to support legal arguments. Additionally, participating in
due diligence tasks and compliance reviews exposed me to practical aspects of corporate
transactions and regulatory compliance requirements.

Throughout the internship, I demonstrated adaptability, teamwork, and a proactive approach

to learning, making the most of every opportunity available to maximize my exposure and
contribute meaningfully to the legal team. Despite limitations on access to certain
information, I embraced challenges and leveraged my skills to make valuable contributions to
the firm.

In conclusion, my internship at Mantrah Law House has been an invaluable learning

experience that has equipped me with the knowledge, skills, and confidence to pursue a
career in corporate law. I am grateful for the guidance and mentorship provided by the legal
team and look forward to applying the lessons learned to future endeavors in the legal
profession.