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Bombay High Court Dismisses Petition Challenging Arbitral Award in Loan Dispute — Upholds Award of Rs.51 Crores with Interest. Facility Agreement and Guarantee Enforced; No Grounds for Interference Under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, Reid & Taylor (I) Limited, S.Kumars Nationwide Ltd., and Nitin S. Kasliwal, filed a petition under Section 34 of the Arbitration and ...

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High Court Sanctions Composite Scheme of Arrangement and Amalgamation Involving Transfer of Business and Reduction of Capital — No Objection from Regional Director or Income Tax Department.

The High Court of Bombay considered two company scheme petitions seeking sanction of a composite scheme of arrangement and amalgamation. The transfero...

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High Court of Karnataka Appoints Arbitrator in Commercial Lease Dispute — Failure to Nominate Arbitrator Despite Arbitration Clause. Court held that under Section 11(6) of the Arbitration and Conciliation Act, 1996, where a party fails to appoint an arbitrator, the court may appoint one.

The petitioner, Satyam Cineplexes Limited, a company engaged in managing multiplex cinema halls, entered into a Memorandum of Understanding (MOU) on 1...

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Supreme Court Considers Scope of Section 45 of Arbitration and Conciliation Act in International Commercial Disputes. Multiple Issues Framed on Reference to Arbitration in Multi-Party Joint Venture Agreements.

The dispute arose from a series of joint venture and ancillary agreements executed between Indian company Chloro Controls (I) P. Ltd. and foreign coll...

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Bombay High Court Dismisses Petition Challenging Injunction in Non-Compete Clause Dispute. Temporary Injunction Granted to Restrain Former Employee from Competing with Employer for Three Years Based on Contractual Non-Compete Agreement.

The petitioner, Tapas Kanti Mandal, was employed by Cosmo Films Ltd. as a manager in its Research and Development Department from May 2003. He resigne...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Development Agreement Dispute. Court upholds award of damages for delay in handing over possession and interest under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, BASF India Ltd., entered into an agreement dated 5.3.2002 with the respondent, Landcom Properties Pvt. Ltd., under which the responden...

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High Court of Bombay Dismisses Arbitration Petition in Interest on Security Deposit Dispute. Contractual Bar on Interest and Non-Applicability of Section 31(7)(a) Arbitration Act Renders Claim Unsustainable; Arbitrator’s Finding on Evidence Upheld.

The dispute arose from an agreement dated 30 December 1996 between the petitioner, M/s. Mascon Multiservices & Consultants Pvt. Ltd., and the responde...