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Supreme Court Disposes of Application After Full Satisfaction of Settlement Amount in State Trading Corporation Case. All criminal and civil proceedings arising from settlement agreements quashed upon payment of Rs. 600 crores with interest.

The Supreme Court disposed of M.A. No. 320 of 2019 in Civil Appeal No. 11907 of 2018, filed by the State Trading Corporation of India Ltd. (STC) again...

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High Court of Bombay Hears Appeal Against Company Law Board Orders Refusing to Enforce Settlement Under Section 634A of Companies Act, 1956. The appeal challenged the binding nature of an order recording broad settlement when consent terms were unsigned and third-party interests were involved.

The appeal arose from two orders of the Company Law Board (CLB) dated 2 July 2004 and 13 September 2004, which held that an earlier CLB order dated 29...

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Supreme Court Dismisses Challenge to Enforcement of Foreign Award on Grounds of Arbitrator Bias — Upholds High Court Order. Alleged Conflict of Interest of Presiding Arbitrator Not Sufficient to Refuse Enforcement Under Section 48(2)(b) of Arbitration and Conciliation Act, 1996.

The Supreme Court dismissed appeals challenging the enforcement of a foreign arbitral award. The dispute arose from a Share Subscription Agreement bet...

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Bombay High Court Adjudicates Writ Petition Against IGST Demand of Rs.1524 Crores on Arbitration Award Damages. Issue Pertains to Whether Damages Paid Under Deemed Decree Constitute Consideration for Taxable Service Under IGST Act, 2017.

The dispute centers on a writ petition filed by Tata Sons Private Limited (Tata) under Article 226 of the Constitution of India, challenging an intima...

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Bombay High Court Dismisses Review Petition in Arbitration Appointment Case — Party Cannot Take Inconsistent Stances. Original Respondent's written commitment to a court-appointed sole arbitrator binds it, and its subsequent objection to the appointment is inequitable conduct.

The Original Respondent (Global Zone Sanitory Infrastructure Pvt. Ltd.) filed a Review Petition against an order dated June 20, 2024, appointing a sol...