May 2023 - Aarna law

Arbitrability of fraud

By aarnalaw Posted on May 31, 2023 Posted in Blogs No Comments Tagged with A. Ayyasamy v. A. Paramasivan, arbitrability, arbitration, Arbitration Act, Booz Allen Hamilton v. SBI Home Finance, Indian Arbitration & Conciliation Act, Radhakrishnan v. Maestro Engineers, Rashid Raza v. Sadaf Khan, Supreme Court, Vidya Drolia v. Durga Trading Corporation

Arbitrating in India can involve recalcitrant respondents trying to frustrate the proceedings, and claimants trying to bring claims that would ideally be litigated before courts. Unfortunately, the jurisprudence around whether a claim is arbitrable or not has not followed a consistent pattern yet it can have profound consequences for the parties involved.

It therefore becomes essential to understand the state of play when it comes to understanding which disputes are arbitrable under Indian law including for the purposes of this article when there are allegations of fraud.

Emergency arbitration in India: a problem of enforcement

By aarnalaw Posted on May 30, 2023 Posted in Blogs, Dispute resolution, News No Comments Tagged with Arbitration Act, emergency arbitration, emergency arbitrator, Go First airlines, Insolvency, international disputes, Praat & Whitney

Emergency arbitration has been in the spotlight in India recently through Indian low-cost airline Go Airline which is trying to enforce an emergency arbitration award against US engine manufacturer Pratt & Whitney. However, it seems that winning the award is not the end of the battle – the key challenge is enforcing it.

Enabling procedural efficacies in parallel ISDS arbitrations

By aarnalaw Posted on May 17, 2023 Posted in Blogs, Dispute resolution No Comments Tagged with arbitration, international disputes, Investor-state dispute settlement, ISDS, parallel arbitration, UNCITRAL, UNCLOS

The difficulties associated with multiple claims brought by different claimants on the same subject-matter has been described as “detrimental to investment practice”.[1] The existence of concurrent proceedings can “hinder amicable …

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Mr. Shibu Job Cheeran, Suspended Director of Corporate Debtor v. Mr. Ashok Velamur Seshadri, Liquidator of Archana Motors Limited

By aarnalaw Posted on May 16, 2023 Posted in Blogs No Comments Tagged with Archana Motors Limited, Ashok Velamur Seshadri, Bankruptcy, Bankruptcy and insolvency, Corporate Debtor, Insolvency, Insolvency and Bankruptcy Code, Liquidation, National Company Law Appellate Tribunal, National Company Law Tribunal, NCLAT, Shibu Job Cheeran

In Shibu Job Cheeran v. Mr. Ashok Velamur Seshadri, the National Company Law Appellate Tribunal observed that it must be proven that the former directors of the corporate debtor were aware of the company’s insolvency but continued to conduct business with ulterior motives in order to demonstrate the fraudulent purpose under Section 66 of the Insolvency and Bankruptcy Code, 2016.

India undertakes review of fast-track insolvencies

By aarnalaw Posted on May 15, 2023 Posted in Blogs, News No Comments Tagged with Bankruptcy, Bankruptcy Law Reform Committee, fast-track insolvency, Insolvency, Insolvency and Bankruptcy Code

Smaller corporations often find the 270-day time frame required for a typical insolvency resolution process to be too long. The Bankruptcy Law Reform Committee determined that “there is merit in creating explicit provisions” for cases where the insolvency could be finished sooner.

Latest developments in insolvency and bankruptcy in India

By aarnalaw Posted on May 15, 2023 Posted in Bankruptcy and insolvency, Blogs, News, Uncategorized No Comments Tagged with Bankruptcy, Credit Suisse, Go First airlines, IBC, Insolvency, Insolvency and Bankruptcy Board, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code

Go First Airlines Go First Airlines files for insolvency: On May 4, 2023, the NCLT Delhi reserves order on a request for an interim moratorium. On May 2, 2023, Nusli Wadia promoter of Go Air …

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Invocation of arbitration under an unstamped or insufficiently stamped agreement

By aarnalaw Posted on May 14, 2023 Posted in Blogs, Commercial law, Dispute resolution No Comments Tagged with arbitration, Contract Act, stamp, Stamp Act, Supreme Court of India, unstamped arbitration agreement

The Supreme Court of India recently decided upon a crucial issue of validity of an unstamped arbitration agreement. The five judge bench held that an instrument which is exigible to stamp duty, may contain an Arbitration Clause and which is not stamped, cannot be said to be a contract, which is enforceable in law within the meaning of the Contract Act.

Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma v. Union of India and Ors.

By aarnalaw Posted on May 12, 2023 Posted in Bankruptcy and insolvency, Blogs, Corporate law No Comments Tagged with Bankruptcy, IBC, Insolvency, Insolvency and Bankruptcy Code, Karamchari Union, Liquidation, Moser Baer Karamchari Union, priority payment, Union of India, waterfall mechanism, workmen's dues

In Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma v. Union of India and Ors., the Supreme Court of India has upheld the Companies Act 2013 provision that overrides payment of workers’ dues during Liquidation process under the Insolvency and Bankruptcy Code, 2016.

Challenging the Unilateral Appointment of an Arbitrator

By aarnalaw Posted on May 10, 2023 Posted in Blogs, Corporate law, Dispute resolution, News No Comments Tagged with arbitration, Arbitration & Conciliation Act, arbitrator, Bombay High Court, dispute resolution, IDR

In its recent ruling, the Bombay High Court reiterated the need for a written agreement between the parties if one of them objects to the unilateral appointment of an arbitrator by the other.

Month: May 2023