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Bombay High Court Dismisses Petition to Restrain Invocation of Bank Guarantee in Airport Development Contract Dispute. Court holds that bank guarantee is an independent contract and can be invoked only in case of breach, but no prima facie case of fraud or irretrievable injustice established.

The petitioner, Housing Development and Infrastructure Limited (HDIL), filed an arbitration petition under Section 9 of the Arbitration and Conciliati...

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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 Arbitration Petition Challenging Award on Share Sale Proceeds. Court upholds arbitrator's finding that petitioner signed mandate letter for sale of shares and loan repayment, rejecting allegations of fraud and forgery.

The petitioner, Jackie Kukubhai Shroff, and the respondent, Ratnam Sudesh Iyer, were shareholders in Atlas Equipfin Pvt. Ltd. (Atlas), which held shar...

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Bombay High Court Grants Interim Injunction Restraining Invocation of Bank Guarantee in Supply Contract Dispute. Prima Facie Fraud and Irreparable Injury Established by Plaintiff Supplier Against Beneficiary.

The plaintiff, M/s. Arad Metering Technologies Ltd., filed a suit seeking a restraint order against Defendant No.1, Axelia Utility Management Pvt. Ltd...

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Supreme Court Dismisses Appeals Against Criminal Complaint for Conspiracy to Illegally Acquire Foreign Exchange. Majority Held that Section 21(1) of the Foreign Exchange Regulation Act, 1947 Does Not Exclude Applicability of Section 120-B of the Indian Penal Code for Continuing Conspiracy.

The Rayala Corporation (P) Ltd. manufactured Halda typewriters in India using materials imported from Sweden. Appellant no.1, Lennart Schussler, a Swe...

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Bombay High Court Allows Appeals Against Arrest of Vessel in Cargo Damage Claim — Maritime Lien Not Established. Bill of Lading Claim Does Not Give Rise to Maritime Lien; Owner Not Liable Due to Demise Clause.

The case involves three appeals filed against an order of a learned single Judge of the Bombay High Court in Admiralty Suit No.27 of 1999. The suit wa...

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High Court of Karnataka Hears Petitions Challenging Tender and Work Orders in Cooperative Milk Marketing. Petitions Filed by Warehousing Agent and Co-Packer Against Karnataka Cooperative Milk Federation and Its Unions Alleging Breach of Exclusive Contracts for Telangana Operations.

Background: The case involved two writ petitions filed before the High Court of Karnataka challenging certain actions of the Karnataka Co-operative Mi...