Cairn Energy said on Sunday that it had discussed multiple proposals with Indian government officials in recent days in an attempt to find a ‘swift solution’ to a long drawn-out tax dispute with the South Asian nation, Reuters reported.
In December, an arbitration body awarded the British firm damages of $1.2 billion plus interest and costs, after ruling India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty. FE Bureau adds: As reported by FE earlier, the Indian government wants Cairn to settle the dispute using the Vivad se Vishwas scheme.
Read moreA legal spat between Amazon.com Inc. and its Indian partner that started with an arbitration verdict in Singapore has got fiercer in New Delhi courtrooms. And neither side is ready to back off.
The US e-commerce giant and Mumbai-based Future Group, whose retail assets billionaire Mukesh Ambani’s Reliance Industries Ltd. agreed to buy for $3.4 billion in August, are locked in a dispute over that deal. Amazon says Future violated a partnership contract with the asset sale to its rival and wants to scuttle it, while the indebted Indian group says it would collapse if the transaction fails.
Read moreIn a new publication by Nishith Desai Associates, authors Ashish Kabra [1], Payel Chatterjee [2]and Sahil Kanuga [3] describe current developments in India’s commercial mediation scene and how it is increasingly recognised as a first call of action. Mediation: The Go-To Dispute Resolution Mechanism in India makes the case for mediation, and suggests a necessary impetus to equip dispute resolution professionals with mediation skills and for them to adopt it as part of their advisory work.
Read moreNew Delhi: UK's Cairn Energy Plc has won an arbitration against the Indian governmentlevying Rs 10,247 crore in retrospective taxes, the company said on Wednesday.
Read moreAre disputes between landlords and tenants arbitrable under Indian law? If yes, are all types of disputes arbitrable? Can arbitration clauses in lease agreements be enforced? After significant confusion and long-standing disputes around the arbitrability of tenancy matters, it may now be possible to answer some of these questions. In two judgments passed within a month, Suresh Shah v. Hipad Technology India Private Limited1 (“Suresh Shah”) and Vidya Drolia & Ors. v. Durga Trading Corporation2 (“Vidya Drolia II”), the Supreme Court has settled the dust on whether landlord-tenancy disputes under the Transfer of Property Act, 1882 (“TP Act”) are arbitrable under the Arbitration & Conciliation Act, 1996 (“Arbitration Act”).
Read moreNearly after a decade of deciding that an arbitration clause contained in an unstamped or deficiently stamped contract, is not valid and hence not enforceable until such deficiency is removed, in the case of SMS Tea Estates Vs. M/s Chandmari Tea Co. Pvt. Ltd.1, the Hon'ble Supreme Court overruled the said judgment in case of SMS Tea Estates (supra) and held that arbitration clause contained in an unstamped or deficiently stamped instrument, being an independent contract, is valid and enforceable. This has been held by a three judges' bench of the Hon'ble Supreme Court in the matter of M/s N.N. Global Mercantile Pvt. Ltd. Vs. M/s Indo Unique Frame Ltd. & Ors2. After holding as above, the Apex Court also referred the findings of a coordinate bench in the judgment of Vidya Drolia & Ors. v. Durga Trading Corporation3 to a constitution bench of five judges, for authoritative decision on the following question:
Read moreAmazon had dragged Future to arbitration at the SIAC after the indebted Kishore Biyani group firm signed a pact to sell retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani's Reliance in August last year. The e-commerce major's argument is that Future violated the contract by entering into the deal with rival Reliance.
Read moreThe year 2020 has seen some important legislative and case law developments in arbitration law in India. The year ended with the following landmark judgments by the Supreme Court.
Read moreLaw, Justice and Parliamentary Affairs Minister Anisul Huq has said that the government is working to incorporate the Alternative Dispute Resolution (ADR) provisions in different existing laws of the country to make commercial dispute resolution easier and less time consuming.
Read moreIn this issue, we consider various court decisions which cover topics such as the limitation period for enforcement of foreign awards, the arbitrability of fraud, ‘patent illegality’ as a ground to set aside awards, and granting of interim directions against non-signatories to an arbitration agreement. We also consider India-related bilateral investment treaty news such as the tribunal’s decision in the Vodafone tax dispute and Nissan’s settlement of its claim against India. We also touch on other developments such as updates issued to the Indian Arbitration and Conciliation Act 1996 and the London Court of International Arbitration Rules.
Read moreNew Delhi, Nov 15 (PTI) With an overhang of disputes choking investments in the oil and gas sector, the government is pushing for contractual wrangles being sent to an expert committee for time-bound resolution but the move has found few takers due to inherent conflict of interest in such a process, sources said.
Read moreFor a country that wants to be a global arbitration hub, and which wants to raise its ranking on the contract-enforcement index, the news just keeps getting worse. Some weeks ago, the Supreme Court (SC) asked Devas Multimedia if it was willing to consider waiving off the interest component on the money owed to it—it won a $672 million global arbitration award—by the government space agency ISRO’s arm, Antrix Corporation.
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