Dispute Resolution / Arbitration

Recently, in the case of Amit Guglani and Another vs. L&T Housing Finance Limited and Another , the Delhi High Court adjudicated upon a petition filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (the "A&C Act") for appointment of a sole arbitrator ("Petition") under a tripartite agreement dated October 24, 2018, executed between the parties. ......

The Delhi High Court recently in the case of B.L. Kashyap and Sons Limited vs. Mist Avenue Private Limited held that when a new contract novates the original contract, the arbitration clause would also stand extinguished by virtue of the new agreement. This decision is based on the principle of novation of a contract which is enshrined in Section 62 of the Indian Contract Act, 1872. ......

The Delhi High Court has recently pronounced an important judgement on the liability of third party funders in an arbitration in the case of Tomorrow Sales Agency (P) Ltd. v. SBS Holdings, Inc. Third party funding is the process by which a party who is otherwise not connected to the proceedings, funds a dispute in return of a financial gain upon the success of the claim. ......

Recently, a five-judge bench of the Supreme Court rendered its judgment in N.N. Global Mercantile Private Limited v. Indo Unique Flame Limited ("N.N. Global 2") and has put to rest the question on whether arbitration agreements included in unstamped/ insufficiently stamped instruments are valid and enforceable. ......

Recently, the National Company Law Appellate Tribunal ("NCLAT"), in the case of Dharmindra Constructions Private Limited and Anr. vs. Rajendra Kumar Jain Resolution Professional of Kudos Chemie Limited and Ors. held that the operational creditors are only entitled for minimum of the liquidation value and in the absence of breach of any provisions of the Insolvency and Bankruptcy Code, 2016. ......

In a recent judgment in the case titled Universal Petro Chemicals Ltd. Vs. BP PLC and Ors. , the Supreme Court, when considering an appeal relating to contractual disputes, refused to award Universal Petro Chemicals compensation in lieu of specific performance of a contract because the plaintiff did not claim for damages specifically in the plaint. ......

Cairn Energy PLC (“Cairn Energy”), now renamed Capricorn Energy, is one of Europe’s leading independent oil and gas exploration and development companies. Over the last few years, the Government of India and Cairn Energy have been involved in a dispute related to a retrospective tax that was imposed on Cairn Energy by the Government of India. ......

In a significant step towards firmly entrenching the will of the parties as a fundamental cornerstone of the Indian arbitration law, the Supreme Court, on August 06, 2021, ruled in the matter of Amazon.com NV Investment Holdings LLC v/S Future Retail Limited and Others (“Judgment”), and held that an emergency arbitration award was enforceable in India. ......

In recent years, SPACs, or ‘Special Purpose Acquisition Companies’, have snaked their way into the lexicon of every investor worth its salt. SPACs are the shiniest new ‘instrument’ on the block and the numbers lend into the hype; for instance, 2020 witnessed the execution of a record 248 SPACs raising a collective USD 83 billion on NASDAQ , even as the world succumbed to a pandemic. Further, it is estimated that there are now close to 400 SPACs on the market with more than USD 120 Billion on their balance sheets. ... ...