Between The Lines – Page 26 – Vaish Associates Advocates

Between the Lines | Supreme Court: The parties to a contract who are Indian nationals or companies incorporated in India can choose a forum for arbitration outside India

The Hon’ble Supreme Court (“SC”) has in its judgment dated April 20, 2021 (“Judgement”), in the matter of PASL Wind Solutions Private Limited v. GE Power Conversion India Private Limited [CIVIL APPEAL NO. 1647 OF 2021], held that the parties to a contract who are Indian nationals or companies incorporated in India can choose a […]

Between the Lines | Supreme Court: The provisions of the Limitation Act would apply mutatis mutandis to proceedings under the IBC in the NCLT or NCLAT

The Supreme Court (“SC”) has in its judgement dated March 22, 2021, in the matter of Sesh Nath Singh & Another v. Baidyabati Sheoraphuli Co-Operative Bank Limited and Another [Civil Appeal No. 9198 of 2019] (“Judgement”) held that provisions of the Limitation Act, 1963 (“Act”) would apply mutatis mutandis to proceedings under the Insolvency and […]

Between the Lines | NCLT, Mumbai: Allows application seeking reliefs essential to run a corporate debtor sold as ‘going concern’ during liquidation

The National Company Law Tribunal, Mumbai bench (“NCLT”) has in its order dated March 09, 2021 (“Judgement”), in the matter of Gaurav Jain v. Sanjay Gupta [IA No. 2264 of 2020 in C.P.(IB)No. 1239/MB/2018], allowed an application seeking reliefs essential to run a corporate debtor sold as ‘going concern’ during liquidation. Facts The Bank of […]

Between the Lines | Bombay High Court: Reiterated that a choice of seat is itself an expression of party autonomy and carries with it the legal effect of conferring exclusive jurisdiction on the courts of the seat

The Hon’ble Bombay High Court (“BHC”) has in its judgment dated January 29, 2021 (“Judgement”), in the matter of Aniket SA Investments LLC v. Janapriya Engineers Syndicate Private Limited and Others [Commercial Appeal No. 504/2019], held that a choice of seat is itself an expression of party autonomy and carries with it the legal effect […]

Between the Lines | Supreme Court: A contract is void if prohibited by a statute under a penalty, even without an express declaration that the contract is void

Supreme Court: (i) A contract is void if prohibited by a statute under a penalty, even without an express declaration that the contract is void (ii) The condition predicated in Section 31 of the Foreign Exchange Regulation Act, 1973, of obtaining ‘previous’ general or special permission of the Reserve Bank of India for transfer or […]

Between the Lines | Delhi High Court: Order terminating arbitration proceedings under Section 32(2)(c) of Arbitration and Conciliation Act, 1996 is not an award

The Delhi High Court (“DHC”) has in its judgment dated January 12, 2021 in the matter of M/s PCL Sunconv. M/s National Highway Authority of India [O.M.P. (T) (COMM.) 80/2020], held that an order terminating arbitration proceedings under Section 32(2)(c) of the Arbitration and Conciliation Act, 1996 (“ACA”) is not an award, and can be […]