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WRIT PETITION (ST) NO. 1338 OF 2020

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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Supreme Court Allows Appeal in Specific Performance Case — Delay in Deposit of Balance Sale Consideration Condoned. The court held that the conditional decree was satisfied by deposit under court orders, and the judgment-debtor's right to rescind was lost as he did not seek rescission before deposit.

The appellant, filed a suit for specific performance of an agreement for sale of 3.75 acres of land dated 14.11.2011, wherein the respondent, agreed t...

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Bombay High Court Hears Appeals Against Interim Measures in Arbitration Dispute Over Subsea Pipeline Subcontract. Appellate Bench Reviews Single Judge's Order Requiring Deposit of Invoice Amount Under Section 9 of Arbitration and Conciliation Act, 1996.

The Bombay High Court, in its commercial appellate jurisdiction, heard two appeals under Section 37 of the Arbitration and Conciliation Act, 1996, aga...

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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...