Category: Arbitration

Bank guarantee – ICBC, which is a Scheduled Bank, carrying on business in India, with a Bank Guarantee of equivalent amount issued by a “Scheduled Indian Bank” – Hon’ble Justice Indira Banerjee allowed the appeal and Hon’ble Justice V. Ramasubramanian dismiss the Special Leave Petitions as not giving rise to any substantial question of law warranting interference under Article 136 of the Constitution – Appeal referred to Hon’ble the Chief Justice of India for appropriate directions.

SUPREME COURT OF INDIA DIVISION BENCH SEPCO ELECTRIC POWER CONSTRUCTION CORPORATION — Appellant Vs. POWER MECH PROJECTS LIMITED — Respondent ( Before : Indira Banerjee and V. Ramasubramanian, JJ. )…

Arbitration and Conciliation Act, 1996 – Section 17(2) – Award of Emergency Arbitrator – It is wholly incorrect to say that Section 17(1) of the Act would exclude an Emergency Arbitrator’s orders. HELD A party cannot, after it participates in an Emergency Award proceeding, having agreed to institutional rules made in that regard, that thereafter it will not be bound by an Emergency Arbitrator’s ruling.

SUPREME COURT OF INDIA DIVISION BENCH AMAZON.COM NV INVESTMENT HOLDINGS LLC — Appellant Vs. FUTURE RETAIL LIMITED AND OTHERS — Respondent ( Before : R.F. Nariman and B.R. Gavai, JJ.…

Arbitral award – Ground of Patent Illegality – No evidence at all or an award which ignores vital evidence in arriving at its decision would be perverse and liable to be set aside on the ground of patent illegality – Impugned Award would come under the realm of ‘patent illegality’ and therefore, has been rightly set aside by the High Court – Appeal Dismissed.

SUPREME COURT OF INDIA DIVISION BENCH PSA SICAL TERMINALS PRIVATE LIMITED — Appellant Vs. THE BOARD OF TRUSTEES OF V.O. CHIDAMBRANAR PORT TRUST TUTICORIN AND OTHERS — Respondent ( Before…

(i) Whether the provisions of Indian Limitation Act, 1963 is applicable to arbitration proceedings initiated under Section 18(3) of Micro, Small and Medium Enterprises Development Act, 2006 ?; HELD YES (ii) Whether, counter claim is maintainable in such arbitration proceedings ? HELD YES “MSMED Act, being a special Statute, will have an overriding effect vis-à-vis Arbitration and Conciliation Act, 1996, which is a general Act.”

“18. With regard to first issue, namely, applicability of Limitation Act, 1963 to the arbitration proceedings initiated under provisions of Micro, Small and Medium Enterprises Development Act, 2006, we need…

A and C Act, 1996 – S 31(7) – Interest on delayed payment – Only difference between the situation contemplated in the provision and the facts of this case is that the agreement involved is not silent on interest entitlement of the appellants on delayed payment but the agreement contains provision for such payment – Appeal allowed.

SUPREME COURT OF INDIA DIVISION BENCH M/S. ORIENTAL STRUCTURAL ENGINEERS PRIVATE LIMITED — Appellant Vs. STATE OF KERALA — Respondent ( Before : Surya Kant and Aniruddha Bose, JJ. )…

You missed