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Supreme Court Dismisses Municipal Corporation's Appeal in Arbitration Case Upholding Arbitral Award. Challenge to Tribunal's Constitution Fails as 30-Day Appointment Period in Arbitration Agreement is Directory, Not Mandatory, Under Sections 16, 34, and 37 of the Arbitration and Conciliation Act, 1996.

The dispute originated from a consultancy agreement dated 18 September 1995 between the Municipal Corporation of Greater Mumbai (MCGM) and Respondent ...

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Bombay High Court Dismisses Appeal Against Refusal to Restrain Bank Guarantee Invocation in Contract Dispute. No Fraud or Special Equities Established to Prevent ONGC from Encashing Bank Guarantees Furnished by Mercator Oil & Gas.

The appellant, Mercator Oil & Gas Limited, had entered into a contract with the first respondent, Oil & Natural Gas Corporation Limited (ONGC), for th...

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Bombay High Court Dismisses Petition to Restrain Encashment of Performance Bank Guarantee in Arbitration Dispute. Court holds that bank guarantee is an independent contract and injunction can only be granted in cases of fraud or irretrievable injustice, which were not established.

The petitioner, Karam Chand Thapar & Bros. (Coal Sales) Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking ...