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Supreme Court Allows Appeal in Part in Foreign Currency Arbitral Award Enforcement Case. Twin Principles Laid Down: Date of Enforceability for General Conversion, Date of Deposit for Amounts Deposited in Court.

The Supreme Court addressed the issue of the correct date for converting a foreign currency arbitral award into Indian rupees for enforcement. The app...

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Supreme Court Allows Appeal Against Execution of Arbitration Award as Specific Performance of Agreement for Sale. Arbitration Award Only Fixed Land Price; Executing Court Could Not Direct Sale Deed Execution Beyond Award's Scope.

The Supreme Court allowed the appeal filed by Firm Rajasthan Udyog and its partners against Hindustan Engineering & Industries Ltd. The dispute origin...

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Bombay High Court Dismisses Appeal Against Arbitral Tribunal's Interim Order in Bank Guarantee Dispute. Court upholds restraint on encashment of bank guarantee subject to deposit of amount, finding no perversity in the Tribunal's order under Section 37 of the Arbitration and Conciliation Act, 1996.

The petitioner, Mahaguj Collieries Limited, filed two arbitration petitions under Section 37 of the Arbitration and Conciliation Act, 1996, challengin...

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Bombay High Court Dismisses Appeal Against Refusal to Set Aside Ex Parte Decree in Money Suit — Service of Summons Valid Under Order 9 Rule 13 CPC. The court held that the defendant had knowledge of the suit and failed to show sufficient cause for non-appearance, upholding the ex parte decree.

The appellant, M/s. CliniRX Research Pvt. Ltd., was the original defendant in a money suit filed by the respondent, Bicare Limited, for recovery of mo...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Favour of Constituent in Stock Trading Dispute. Court upholds award based on documentary evidence and rejects challenge under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, M/s. Angel Capital & Debt Market Ltd., a trading member of the National Stock Exchange of India Limited, challenged an arbitral award ...

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Bombay High Court Dismisses Appeals Against Arbitral Award in Partnership Dispute — Upholds Valuation Based on Book Value as Per Partnership Deed. Clause-11 of Partnership Deed Mandates Asset Valuation on Book Value Basis, Not Market Value, Under Section 48 of Indian Partnership Act, 1932.

The case involves two appeals filed by Dr. Vijaypat Singhania and others (Appeal No. 361 of 2010) and Dr. Gaur Hari Singhania and others (Appeal No. 5...

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Bombay High Court Dismisses Section 9 Petition for Lack of Territorial Jurisdiction in Arbitration Dispute. Court holds that no part of cause of action arose within its jurisdiction as contract was executed and performed in Chennai, and arbitration venue was Chennai.

The petitioner, M/s. Roman Tarmat Ltd., filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking an injunction restrain...