Cancellation of a Deed is an Action in Personam, Not in Rem, hence, it is Arbitrable: Observes Supreme Court
The Supreme Court in the matter of Sushma Shivkumar Daga vs. Madhurkumar Ramkrishnaji Bajaj., allowed arbitration between the parties in a property dispute based on the broad language of the arbitration clause in the Tripartite Agreements. The Court rejected the argument that since the suit was for cancellation of a deed, the dispute was not arbitrable, […]
Arbitration Agreement Can Bind Non-Signatories by application of the ‘Group of Companies’ Doctrine : Upholds Supreme Court
The Hon’ble Supreme Court in the matter Cox and Kings Ltd v. SAP India Pvt. Ltd., held that an arbitration agreement can bind non-signatories as per the “group of companies” doctrine.” The ‘group of companies’ doctrine must be retained in the Indian arbitration jurisprudence considering its utility in determining the intention of the parties in the […]
If Specific Performance Of The Terms Of The Contract Has Not Been Done, The Question Of Time Being The Essence Of Contract Does Not Arise – Observes Supreme Court
The Supreme Court while adjudicating an appeal filed in the matter of Gaddipati Divija & Anr v Pathuri Samrajyam & Ors., observed that time would not be of essence in a contract wherein the obligations of one party are dependent on the fulfilment of obligations of another party. The Apex Court observed that when specific performance […]
Claim For Pre-CIRP Dues Not Been Filed, Electricity Department Not Entitled To Recover Such Dues Or To Disconnect Electricity: Observes NCLAT Delhi
The National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, while adjudicating an appeal filed in the matter Swastik Aqua Ltd. & Anr. v Jharkhand Bijli Vitran Nigam Ltd. & Anr., has held that if the Electricity Department does not file any claim for its pre-CIRP electricity dues, then it is neither entitled to recover the pre-CIRP electricity dues, […]
Allocation Of Meagre Amount Cannot Be A Ground To Question The Resolution Plan: Observes NCLAT Delhi
The National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, while adjudicating an appeal filed in the matter of Pani Logistics v Vikas G. Jain & Ors., has held that mere allocation of meagre amount cannot be a ground to question the resolution plan. The allocation in the resolution plan to the creditors can be questioned when the plan […]
No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi Holds
The National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, while adjudicating an appeal filed in the matter Diwakar Sharma v Anand Sonbhadra, has held that there is no scope for condonation of delay beyond the period of 15 days much less 45 days, as there is no window available for NCLAT to exercise its jurisdiction for condonation […]
Corporate veil can be lifted to enforce arbitral awards against shareholders of a company – Observes Delhi High Court
The Delhi High Court in the order passed In the matter of Delhi Airport Metro Express Private Limited Vs., Delhi Metro Rail Corporation Ltd., observed that the court has the power to lift corporate veil and enforce a decree, order or an award against the shareholders of the company. In the instant matter, the Delhi High Court […]
Updation Application Seeking To Change The Amount Of Counter-Claims In Arbitral Proceedings, Is An Application For ‘Amendment’: Observes Delhi High Court
Delhi High Court in the matter of NTPC Ltd vs. Larsen and Toubro Limited & Anr. has ruled that where a party has filed an application seeking to update/revise its counter claims before the Arbitral Tribunal, intending to primarily alter/change the amount of the counter-claims, the said application was, in effect, an application for amendment of the […]
Court May Decline To Refer Parties To Arbitration If Dispute Doesn’t Correlate To Arbitration Agreement: Reiterates Delhi High Court
The Delhi High Court in the matter of GTM Builders and Promoters Pvt Ltd vs. Sneh Development Pvt Ltd has reiterated that mere existence of an arbitration agreement or arbitration clause would not be sufficient to refer the parties to arbitration and that even in the presence of an arbitration agreement, the court may decline to refer […]
Resolution Professional Entitled To Take Control Of Corporate Debtor’s Rights In Assets Licensed To Third Parties: Observes Supreme Court
The Supreme Court in the matter of Victory Iron Works Ltd. v Jitendra Lohia & Anr., has held that a Resolution Professional (“RP”) is entitled to take control of the rights of a corporate debtor in assets which are licensed to third parties. Such an action of the RP will come within the ambit of Section 25 […]