Case note Sriram EPC vs Rioglass Solar SA
A Foreign Award without the Stamp Duty would not render it unenforceable Original case M/S Shriram EPC Limited v. Rioglass Solar SA Brief background An ICC award was delivered in London 12.02.2015 in favour of the Respondent ordering the Claimant to pay a sum of €4,366,598.70. The Appellant then challenged the award under section 34 of the Arbitration Act but all objections to the stated award were rejected by the learned single judge of the Madras High Court. In pursuance of which, an appeal was filed before the division bench of the same court which was also held non-maintainable in… Read more
Case Note on UIA vs Hyundai
Arbitration Clause in an agreement should be interpreted strictly Original Case United India Insurance Co. Ltd. and Ors. v. Hyundai Engineering and Construction Co. Ltd. And Ors. Practical Implications The Constitution bench of the Supreme Court has laid down a precedent that even after the amendment of 2015 and insertion of subsection 6A under section 11 of the Arbitration Act, the Arbitration clause has to be interpreted strictly considering the conditionality clause. Brief Background The joint venture Company comprising of Respondent 1 (Hyundai Engineering and construction) and 2 (Gammon India) executed a Contractor All Risk Insurance Policy valued at Rs.… Read more
K. Kishan v. Vijay Nirman Company Private Limited.
Insolvency process cannot be applied as proceedings challenging the award amounts to dispute. Original Case Kishan v. Vijay Nirman Company Private Limited. Practical Implication The Supreme Court in the present decision considered whether to allow a petition under section 9 of the Insolvency and Bankruptcy code when the debt towards the operational debtor is already disputed. The Supreme Court has laid down guidelines to decide when an operational debt is termed to be disputed. It lays down a precedent that even after the award is passed, the debt cannot be termed as accepted until the final adjudication. Brief Background A… Read more
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