Page 3 - Arbitration

BharatPe files arbitration to claw back Ashneer Grover's 1.4% shares

Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title. Grover, who BharatPe has accused of cheating and embezzlement of funds, holds about 8.5 per cent of the company. Of this, 1.4 per cent is not vested. The company did not immediately offer any comment. The action follows a detailed corporate governance review by the company's board into allegations of lapses and misdoings during the tenure of Grover as managing director. The arbitration proceedings were initiated after Grover refused to comply with the shareholders' agreement, sources said without elaborating. This is BharatPe's third legal action against

Work on Adani Vizhinjam port will resume within a week: Jayakumar

he arbitration process is already on for not just extension demand, but also force majeure claims by Adani taking into account cyclones like Ockhi, Covid and floods

Delhi HC rejects Future Group's plea to terminate arbitration before SIAC

On November 17, the Supreme Court had said that it would not allow stalling of arbitrary proceedings between Future Group and Amazon before the SIAC

Dollar-rupee forward premia lowest since 2011 as US-India rate gap shrinks

Indian currency's recovery since US CPI leads to reversal of onshore-offshore arbitrage

Veteran NY judge appointed as independent arbiter in Trump Mar-a-Lago probe

A federal judge has appointed a veteran New York jurist to serve as an independent arbiter and review records seized during an FBI search of former President Donald Trump's Florida home last month. The selection of Raymond Dearie, a former federal prosecutor who for years served as the chief judge of the federal court based in Brooklyn, came after both the Justice Department and Trump's lawyers made clear that they would be satisfied with his appointment as a so-called special master. In that role, Dearie will be responsible for reviewing the documents taken during the Aug. 8 search of Mar-a-Lago and segregating out any that may be covered by claims of privilege. It is not clear how long the work will take but the special master process has already delayed the investigation, with a judge in Florida directing the Justice Department to temporarily pause core aspects of its probe. The Justice Department is investigating the hoarding of top-secret materials and other classified document

Arbitrators can't decide their fees without consulting parties, says SC

The Court said the 4th schedule, which lays down the fees of arbitrators, of the Arbitration and Conciliation Act 1996(the Act) is not binding on the parties.

Govt loses appeal to $111 mn arbitration award in dispute with RIL, Shell

The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute

Arbitration hearing set for January in Vedanta-Zambia copper mine dispute

Zambia's government accused Vedanta at the time of failing to honour licence conditions, including promised investment - accusations that Vedanta has denied.

Delhi HC directs DMRC to pay Rs 4,600 cr arbitral award to DAMEPL in 2 mths

The Delhi High Court directed the DMRC to pay over Rs 4,600 crore of arbitral award along with interest to Delhi Airport Metro Express Private Limited (DAMEPL) in two equal installments in two months.

Negotiating pitfalls: Are there basic lacunae in India's practices?

As cumulative experience should teach us, fuzzy approaches have costs, so the homework has to be done before signing of contracts, not after, writes T N Ninan

Arbitration can be set aside only if award is against public policy: SC

An arbitration award can be set aside only if the award is against the public policy of India, the Supreme Court has said.

India's first International Arbitration and Mediation Centre opens in Hyd

India's first International Arbitration and Mediation Centre was jointly inaugurated by Chief Justice of India, N.V. Ramana, and Telangana Chief Minister, K. Chandrasekhar Rao

Russia gets partial win in $50 billion case over bankrupt oil giant

The Dutch Supreme Court on Friday handed Russia at least a temporary victory in an appeal of what's believed to be the world's largest award in an arbitration case

IndiGo's Rakesh Gangwal moves HC to enforce award of London arbitration

Sources said order had mandated relief in terms of shareholders' agreement, which gives greater control to co-promoter Rahul Bhatia and puts restrictions on transferring shares

There's growing interest in mediation in India: Singapore law minister

'Singapore and India are also collaborating closely in mediation', said Shanmugam

Zostel vs Oyo: Delhi High Court to hear case on October 7

Zostel is a backpacker hostels chain which has been embroiled in a legal battle with OYO for the last three years after merger talks broke down

No direction to firm in arbitration award on promoters' feud: IndiGo

The proceedings were initiated by InterGlobe Enterprises Ltd (IGE) and Bhatia against Gangwal, the Chinkerpoo Family Trust and Shobha Gangwal

Street signs: Index inclusion setback for REITs, Paras IPO in demand & more

Shares of Brookfield India REIT fell close to 9 per cent in two sessions, while Embassy Office Parks REIT declined more than 5 per cent

$1.2-bn arbitral award: US court sets timelines for Cairn-India lawsuit

A federal court in Washington has set timelines for responses to be filed to an Indian government petition seeking dismissal of a suit by Britain's Cairn Energy

Arbitration awards and the public interest

An objective, analytical approach to pursuing or resisting claims and arbitration awards is advisable