The Apex Court has iterated that the MSMED Act of 1993 is of prospective nature and has no retroactive effects. In Odisha State Financial Corporation vs Vigyan Chemical Industeriesdecided on 5 August 2025, the Supreme Court strongly disapproved of the Odisha State Financial Corporation (‘OSFC’) for its legal mismanagement. A bench of Justices J B Pardiwala and R Mahadevan has put forward that procedural compliance is not just a mere formality; it is rather a substantive safeguard designed to protect the interests of State instrumentalities and the public exchequer.
The liability to make payments under Sections 3 and 4 of the The Interest On Delayed Payments To Small Scale And Ancillary Industrial Undertakings Act, 1993 can only arise after the Act has come into force. Since no prior events and liabilities are attached, the Act only acts prospectively and has no retroactive role.
The Court referred to the International Airport Authority’s case on the question of when a corporation may be considered an instrumentality or agency of the government. This is not by mere government ownership. These include (1) entire shareholding by the government, (2) substantial financial assistance by the state, (3) state-conferred or protected monopoly, (4) deep and pervasive government control, (5) performance of functions of public importance closely related to governmental duties, and (6) transfer of a government department to the corporation. These are indicative tests and their cumulative effects determine whether a corporation qualifies as “State” under Article 12 of the Constitution.
Section 29 of the State Financial Corporation Act, 1951 empowers financial corporations to enforce security without court intervention, limiting their liability strictly to funds recovered from the borrower’s assets. These corporations cannot be held personally liable. The judgement has reaffirmed the principle established in the Assam Small Scale Industries case.
If you’re an experienced lawyer with a passion for litigation and cutting-edge legal sectors like Intellectual Property and Technology, the Associate legal job at Saikrishna & Associates Bangalore may be the opportunity you’re looking for.
Saikrishna & Associates, a prominent law firm known for its strong IP, media, and tech law practice, is currently hiring an Associate with 2–3 years of Post-Qualification Experience (PQE). The role offers exposure to diverse and high-stakes mandates, combining litigation and advisory responsibilities in evolving and complex legal domains.
About Saikrishna & Associates
Founded in 2001, Saikrishna & Associates has established itself as a leading full-service IP and litigation firm. The firm handles a broad portfolio of clients from the media, entertainment, telecom, and technology industries, and is recognized for its strategic legal services and litigation excellence.
With offices in Noida, Bangalore, and Mumbai, the firm provides nationwide coverage and represents clients in various judicial and regulatory forums.
Position Overview
Role: Associate (Litigation & Advisory)
Location: Bangalore, India
Experience Required: 2–3 years PQE
Department: Litigation and Advisory
Mode: Full-time, in-office
This Associate legal job at Saikrishna & Associates Bangalore is best suited for motivated legal professionals who are confident in courtroom handling and legal drafting and have an interest in IP, tech, and media law landscapes.
Practice Areas
The selected Associate will work across multiple practice areas, including:
Intellectual Property (Copyright & Trademarks)
Media & Entertainment Law
Technology and Digital Platforms
Criminal Law
Consumer Protection Law
A multidisciplinary approach is essential to this role, as many mandates involve overlapping legal fields and evolving statutory frameworks.
Key Responsibilities
Representing clients before various courts and tribunals, particularly in Bangalore
Drafting pleadings, submissions, and responses across litigation matters
Preparing well-researched legal memos, opinions, and advisory documents
Liaising with clients, coordinating filings, and ensuring case deadlines are met
Conducting research on emerging areas such as data protection, platform regulations, and copyright disputes
Preferred Candidate Profile
To be successful in this Associate legal job at Saikrishna & Associates Bangalore, applicants should ideally possess:
2–3 years of litigation experience, particularly in civil, commercial, or regulatory domains
Strong understanding of laws related to:
Copyright & Trademarks
Digital platform compliance
Data protection regulations
Technology and software disputes
Ability to draft litigation documents with accuracy and efficiency
Confidence in handling court appearances and case strategies
Experience working in or familiarity with Bangalore courts
Working knowledge of Kannada is a significant plus
This is an exciting opportunity for lawyers who are looking to expand their litigation skills while gaining exposure to high-value clients in dynamic sectors.
This Associate legal job at Saikrishna & Associates Bangalore offers a unique and rewarding opportunity to be part of a highly respected legal team that is consistently engaged with some of the most innovative, complex, and high-profile legal challenges in the country. Operating at the intersection of technology, intellectual property, media, and regulatory law, the firm provides an intellectually stimulating environment where no two matters are the same.
As an Associate, you’ll be exposed to cutting-edge legal work involving litigation strategy, evolving jurisprudence, and advisory mandates for leading digital platforms, entertainment entities, and technology-driven businesses. You will collaborate with legal minds who are shaping the future of IP and tech law in India, while honing practical skills in drafting, courtroom advocacy, and client engagement.
Apply now and take the leap into a dynamic, high-growth legal environment where your expertise will be valued and expanded.
