The Supreme Court on Wednesday took note of the consent of US e-commerce major Amazon and Future group and ordered the resumption of arbitral proceedings before the SIAC tribunal over Future Retail's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd.
US e-commerce major Amazon Wednesday apprehended the "disappearance" of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL's merger deal with Reliance Retail. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli took note of the allegations of the US firm that the "applecart was being upset" by its rivals and asked the Future group firms, FRL and Future Coupons Ltd (FCPL), to respond to the interim plea of Amazon seeking resumption of arbitration and preservation of assets and fixed the hearing on March 23. Amazon and Future group are engaged in multi-forum litigations on the issue of FRL's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd after the US e-commerce giant dragged the latter to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020.
Former Supreme Court judge B Sudhershan Reddy is the joint candidate of the Opposition parties for the Vice-Presidential polls, Congress President Mallikarjun Kharge announced.
Satyanarayan told PTI that the AIFF will have to obey the CAS' final ruling on the matter.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
The government has slapped a $2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries and its partners, including BP Plc for gains made from producing and selling natural gas that may have migrated from neighbouring block of state-owned ONGC. This follows the Delhi high court's decision on February 14, overturning an international arbitration tribunal ruling that held the duo not responsible for paying any compensation for the gas they produced and sold which had allegedly migrated from adjoining fields.
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.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Now AIFF's move to hand the trophy to Churchill Brother, just hours after the CAS order staying the federation's decision to declare the club as champions, could provoke international scrutiny, including from FIFA.
AG is of the view that there is no point in dragging the matter further when it has already been "struck down" by one international forum, and also by the top Indian court.
Banned UEFA president Michel Platini has taken his appeal against a ban from soccer by FIFA to the Court of Arbitration for Sport (CAS), the Swiss-based sports tribunal said.
'Finally the nightmare is over. Following the decision by the Court of Arbitration for Sport, I can look forward to the day when I can follow my dreams again.'
While naming him as the NDA candidate for the Vice President's post, the BJP had described him as 'Kisan putra', a move seen in the political circles aimed at reaching out to the politically significant Jat community which had participated in huge numbers in the year-long farmers' protests against agriculture reform measures unveiled in June 2020.
McDonald's has argued that the dispute with its Indian joint venture partner Vikram Bakshi should be referred to arbitration as per the clauses of their agreement.
Ekaterina Guliyev is set to lose the 800 metres silver medal she won for Russia at the 2012 Olympics after the Court of Arbitration for Sport (CAS) dismissed her appeal against a four-year doping ban.
While Mukesh Ambani-led RIL has nominated former Justice Bharucha as its arbitrator, the Centre chose Justice Khare as its nominee.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
An ESPNCricinfo report earlier stated that the Boxing Day Test will start from the traditional date of December 26 in Melbourne, following the pink-ball game at the Adelaide Oval from December 17.
From bitter fights to dope shame, Indian Olympic team's tryst with controversies
The RSS which catapulted Jagdeep Dhankar to national prominence after 21 years of hibernation could not come to his rescue when BJP higher ups decided to seek his resignation, points out Prakash Bhandari.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
The Supreme Court on Wednesday asked Amazon and Future group to request the NCLAT to decide the plea challenging the revocation of sanction to the US e-commerce major for its deal with Future group's firm by the Competition Commission of India. The suggestion was made by a bench headed by Chief Justice N V Ramana while adjourning to March 9 the hearing on Amazon's appeal against the January 5 order of the Delhi high court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance Retail. The bench, also comprising Justices A S Bopanna and Hima Kohli, deferred the hearing after brief arguments on being told that the National Company Law Appellate Tribunal (NCLAT) is hearing another appeal of Amazon related to the merger deal.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
Pakistan has decided to approach the International Court of Arbitration to halt the construction of the Kishanganga hydropower project by India, on the ground that it violates the Indus Waters Treaty of 1960, and has formed a team of legal experts to fight the case.Professor Kaiyan Homi Kaikobad, an international legal expert of Pakistani origin, will lead the team at the International Court of Arbitration.
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
RIL had challenged the government notice to disallow cost through a Notice of Arbitration on November 23, 2011 saying the signed contract does not provide for output targets and there was no provision for disallowing any part of cost because of production not being in line with output guidance.
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
The Supreme Court junks technicalities in international arbitration agreements.
Antrix, the commercial arm of Indian Space Research Organisation has moved a court in Bengaluru seeking directions to restrain Devas multi-media from proceedings with the arbitration it has filed against it in an international court in Paris on cancellation of agreement on S band spectrum allocation.
Air India has asked a New York court to dismiss a petition filed by Britain's Cairn Energy for seizure of its assets to enforce $1.2 billion arbitral awards against the Indian government, saying the litigation was premature as an appeal against the arbitration award was still pending. The petition by the airline, which is separate to Indian government's plea in a Washington court seeking dismissal of Cairn's lawsuit to seek confirmation of the arbitral award, said the New York district court lacks jurisdiction to adjudicate a "mere hypothetical question" or one that depends upon contingent future events that may or may not occur. Cairn first moved a court in the US District Court for the District of Columbia seeking confirmation of the arbitration award and then filed a petition in the New York court to seek declaration of Air India as "alter ego" of the Indian government and so it should be made liable to pay the $1.26 billion arbitral award.
Differences between Bakshi, his wife and McDonald's India emerged in mid-2013.
The government, however, amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.
Novak Djokovic expressed his frustration at being "kept in the dark" about world number one Jannik Sinner's doping case, saying in Brisbane on Sunday that it was not a good look for tennis.
Sinner gives the impression of a player with all the answers against whoever he comes up against, but the off-court questions he is likely to face about the doping case that surfaced in August might be harder to shrug off.
Sinner remains the man to beat at Melbourne Park even as doping officials seek a two-year ban for the world number one for failing two drugs tests last March.
Simona Halep questioned the "big difference" in how doping cases are treated after world number two Iga Swiatek was handed a one-month drugs ban
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
The Court of Arbitration for Sport (CAS) has ruled that athletes will have to ensure that they remain below their weight limit and no exception can be provided under any circumstance
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
