Commercial Dispute

Sterlite Tech to pay Rs 4 cr to Data Management Centre for settling dispute

Broadband technology firm Sterlite Technologies has agreed to pay USD 4,67,400 (about Rs 4 crore) to the Data Management Centre for dispute settlement, a regulatory filing said on Monday. Data Management Centre had claimed damages worth USD 2.7 million (about Rs 23 crore) before Singapore International Arbitration Centre against Sterlite Technologies (STL) for delay and failure by the broadband technology to meet obligations under their agreement. "Without admission of liability, a Settlement Agreement was executed between the Parties wherein Sterlite agrees to pay DMC a net sum of USD 4,67,400 towards full and final settlement of all claims between the parties," the filing said. STL is engaged in the business of manufacturing and selling optical fibre cables. Shares of the company closed at 131.15 apiece, down by 0.3 per cent at BSE on Monday.

HC asks Goa to stop operations of 175 commercial set-ups at Anjuna beach

The High Court of Bombay at Goa has ordered a panchayat to stop operations of 175 commercial establishments, including many restaurants and lodges, along the popular Anjuna beach over lack of permissions from various authorities. The division bench of Justices Valmiki Menezes and Mahesh Sonak on Tuesday directed the Anjuna-Caisua panchayat to stop the commercial operations of the structures immediately. The reason for the stoppage of commercial activities through the above 175 structures is that any permissions or clearances from the Town and Country Planning authorities back none of these structures, the Judges said. None of these structures have any completion or occupancy certificate. None of these structures are cleared from the perspective of fire safety, discharge of sewerage, etc, the Bench said. Of these commercial set-ups, the court observed, 45 have some sort of clearance from the Goa Coastal Zone Management Authority (GCZMA). Similarly, about 130 of these 175 structures

Commercial drivers' strike continues in Odisha; fuel & milk supply affected

With the strike of commercial drivers entering third day in Odisha, passenger bus services, and transportation of petroleum products and milk were affected across the state. The Odisha Drivers' Mahasangha announced continuance of its stir even as the state transport commissioner Amitabh Thakur expressed optimism that the agitation would end soon. Drivers across the country were on strike over the recently enacted hit-and-run' Law under the Bharatiya Nyay Sanhita (BNS), which replaces the colonial-era Indian Penal Code (IPC). The Mahasangh is part of the All-India strike. "Our strike will continue as discussions are still underway with both the state and Central governments," Mahasangha president Prashant Menduli told reporters. The drivers also said that there was a provision for imprisonment of two years under Section 304 of the IPC for accidents. As per the provisions in the BNS, drivers who cause a serious road accident by negligent driving and run away without informing police

Govt launches Vivad se Vishwas-2 scheme to settle contractual disputes

The one-time settlement scheme will cover cases where the court order was passed by 30 April 2023, and the arbitral order was given by 30 January 2023

Delay in adjudication of commercial disputes affects ease of doing biz: SC

The Supreme Court Thursday ordered the Allahabad High Court Chief Justice to prepare a roadmap for early disposal of execution petitions under the Arbitration Act.

Snapdeal partners with Sama for online dispute resolution, sees success

In the pilot, which looked at a few hundred cases, Snapdeal and Sama helped settle a 100, with an overall success rate of 50 per cent

Jammu and Kashmir LG Manoj Sinha kicks off International Arbitration Centre

Lieutenant Governor Manoj Sinha said the launch puts the union territory on the commercial arbitration map of the world

Govt pushes for minimal adjournments to reduce delay in commercial disputes

In April, the Department of Justice informed the Cabinet Secretariat about its request to the four high courts and their subsequent response.

Ease of doing business: Why India is faltering in enforcing contracts

To move the ease of biz needle up, experts say there is need to adopt a multi-pronged approach

Investors in fear as commercial disputes treated as criminal complaint: CII

Prime Minister Narendra Modi last week said the government is working to decriminalise some provisions of the Companies Act to make it easier to do business in the country

Parliament passes Bill for speedy disposal of commercial disputes

Law Minister Ravi Shankar Prasad said small businesses should get their disputes redressed like the big ones