Arbitration

Delhi Metro shareholders should step up

The Bar Council's latest rules go a long way but there are some major hurdles to India's evolution as a global arbitral centre

Chairman of one world's largest law firms for business arbitration says 'enormous demand' for setting commercial disputes outside courts

Interest in low-risk equity products of mutual fund schemes see interest after extended period of outflows

BCI said that the entry of foreign firms will be restricted, well-controlled and regulated to ensure that it is mutually beneficial to Indian as well as foreign lawyers

Law Minister Kiren Rijiju on Sunday batted for institutional arbitration in the country and pointed at loopholes in "ad hoc" arbitration, saying such proceedings are susceptible to court interventions which delay the final outcome. He also said artificial intelligence (AI) can help arbitrators in tasks such as document review and analysis, legal research, and drafting of awards. Addressing a Delhi Arbitration Weekend event at the Delhi High Court, he said majority of the people go for "ad hoc" arbitrations where the proceedings are not governed by pre-determined rules. As a result, these proceedings are susceptible to court intervention at various stages which leads to delay in final decision for the parties involved. On the other hand, Rijiju pointed out, institutional arbitrations are regulated by the rules of an institution that provide for a more structured and secure process. In addition, parties can benefit from the expertise of the arbitral institution having good quality ..

Centre notifies the scheme; disputes with states govts, another pvt firm not covered

In a bid to free up thousands of crores of rupees locked up in litigation and arbitration, the government will come out with a discussion paper on a scheme detailing the percentage of amount which could be paid for expeditious resolution of contractual disputes, Finance Secretary T V Somanathan said. To begin with, the Department of Expenditure under the finance ministry will seek stakeholder suggestions on the quantum of percentage that could be offered for settling contractual disputes, besides other terms and conditions. The scheme would cover disputes relating to government contracts which are currently under arbitration or litigation. Under the scheme, which would be voluntary, contractors can come forward for resolution of disputes by accepting a specified percentage of the contract value. The percentage would be notified separately and will be 'reasonable and fair' so that many people take it, Somanathan told PTI. "...if they're willing to accept that percentage, it (dispute

Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title. Grover, who BharatPe has accused of cheating and embezzlement of funds, holds about 8.5 per cent of the company. Of this, 1.4 per cent is not vested. The company did not immediately offer any comment. The action follows a detailed corporate governance review by the company's board into allegations of lapses and misdoings during the tenure of Grover as managing director. The arbitration proceedings were initiated after Grover refused to comply with the shareholders' agreement, sources said without elaborating. This is BharatPe's third legal action against

he arbitration process is already on for not just extension demand, but also force majeure claims by Adani taking into account cyclones like Ockhi, Covid and floods

On November 17, the Supreme Court had said that it would not allow stalling of arbitrary proceedings between Future Group and Amazon before the SIAC

Indian currency's recovery since US CPI leads to reversal of onshore-offshore arbitrage

A federal judge has appointed a veteran New York jurist to serve as an independent arbiter and review records seized during an FBI search of former President Donald Trump's Florida home last month. The selection of Raymond Dearie, a former federal prosecutor who for years served as the chief judge of the federal court based in Brooklyn, came after both the Justice Department and Trump's lawyers made clear that they would be satisfied with his appointment as a so-called special master. In that role, Dearie will be responsible for reviewing the documents taken during the Aug. 8 search of Mar-a-Lago and segregating out any that may be covered by claims of privilege. It is not clear how long the work will take but the special master process has already delayed the investigation, with a judge in Florida directing the Justice Department to temporarily pause core aspects of its probe. The Justice Department is investigating the hoarding of top-secret materials and other classified document

The Court said the 4th schedule, which lays down the fees of arbitrators, of the Arbitration and Conciliation Act 1996(the Act) is not binding on the parties.

The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute

Zambia's government accused Vedanta at the time of failing to honour licence conditions, including promised investment - accusations that Vedanta has denied.

The Delhi High Court directed the DMRC to pay over Rs 4,600 crore of arbitral award along with interest to Delhi Airport Metro Express Private Limited (DAMEPL) in two equal installments in two months.

As cumulative experience should teach us, fuzzy approaches have costs, so the homework has to be done before signing of contracts, not after, writes T N Ninan

An arbitration award can be set aside only if the award is against the public policy of India, the Supreme Court has said.

India's first International Arbitration and Mediation Centre was jointly inaugurated by Chief Justice of India, N.V. Ramana, and Telangana Chief Minister, K. Chandrasekhar Rao