AuthorVenugopalMahapatra

JUDICIAL ENTRENCHMENT OF THE BHATIA INTERNATIONAL DECISION

Recently, in the case of Tamil Nadu Electricity Board v. Videocon Power Ltd., a two-judge bench of the Madras High Court had occasion to deal with foreign arbitral awards, and the applicability of Part I of the Arbitration Act (which deals with domestic arbitration) to such awards. It may be recalled that in the cases of Bhatia International and Satyam, the Supreme Court had held that Part I of...

DO CO-OPERATIVE SOCIETIES FALL UNDER THE AMBIT OF THE SECURITIZATION ACT?

In an earlier post, it was reported that the Supreme Court had excluded cooperative societies from the purview of the RDB Act (Debt Recovery Tribunals). Recently, similar questions have been raised about the scope of the Securitization Act, 2002, and whether it covers co-operative societies. Unlike the RDB Act, which did not specifically include Co-operative Societies or delegate power to the...

SUPREME COURT ON THE ‘COMMERCIAL’ CLAUSE UNDER THE ARBITRATION ACT

In a recent judgment, in Comed Chemicals Ltd. v. C.N. Ramchand, the Supreme Court has provided an expansive scope to the phrase “commercial” in International Commercial Arbitration. The importance of this lies in the fact that, keeping in with the rise of international commercial arbitration as an effective, alternative means of dispute resolution, most jurisdictions around the world are...

ARBITRAL PROCEEDINGS AND THE JURISDICTION OF COURTS

The case of Vijay Kumar Gupta v. Renu Malhotra, recently decided by the Delhi High Court, deals with the important issue of the definition of the word “Court” in the Arbitration and Conciliation Act, as well as the pecuniary jurisdiction of the High Court. In 1998, the decree-holder filed a petition before the Delhi High Court for appointment of an arbitrator under Section 11 of the Arbitration...

SUPREME COURT RULES ON JURISDICTION IN CASE OF CONFLICT BETWEEN THE ARBITRATION ACT AND THE COMPANIES ACT

In the case of Sumitomo Corporation v. CDC Financial Services (Mauritius) Ltd. and Ors., delivered by a two judge bench of the Supreme Court, the basic issue was whether, in case of a conflict, Section 10(1)(a) of the Companies Act, 1956 would take precedence over Section 50 of the Arbitration and Conciliation Act. The facts of the case were as follows: In 1984, Sumitomo Corporation (appellant)...

SUPREME COURT RULES ON THE MEANING OF “INTERNATIONAL COMMERCIAL ARBITRATION”, WITH CONSEQUENCES FOR FORUM SHOPPING

The case of TDM Infrastructure Pvt. Ltd. v. UE Development India Pvt. Ltd., decided by a single judge bench of the Supreme Court in May 2008, is an important judgment dealing with the issue of forum shopping with respect to seats of arbitration, and arbitration laws. In TDM Infrastructure, the facts were these: the two parties to the dispute were companies registered under the Companies Act of...

Supreme Court exempts Co-Operative Banks from claiming under Recovery of Debts Due to Banks and Financial Institutions Act

The case of Greater Bombay Co-Op Bank Ltd. v. United Yarn Tex. Pvt. Ltd. and Ors., decided by a three judge bench of the Supreme Court finally settles the long-ranging debate about the interplay between Debt Recovery Tribunals and Co-operative Banks that had brought about a series of conflicting High Court decisions. The question in this case was whether the mechanism for the recovery of debt by...

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