Search Results for Tag : Rbi

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Regulatory disclosure and public interest(16.12.2015)

The Supreme Court dismissed appeals arising out of Central Information Commission’s orders requiring the Reserve Bank of India to disclose information.....

Tags : Rbi, fiduciary relationship, disclosure, rti

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Blast from the Past

Party partaking in arbitration waives right to object validity(21.02.2002)

By participating in arbitration proceedings without protest, or objection before a court at the initial stage, a party is deemed to have waived its ri.....

Tags : arbitration, jurisdiction, acquiescence, participation, without protest

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Judgments

Two Indian firms may conduct arbitration outside Country and under a foreign law, if there was an agreement to that effect(24.08.2016)

Disputes arose between Appellant and Respondent. Respondent by its letter purported to terminate AGREEMENT-I. Thereafter, Respondent made a request fo.....

Tags : Jurisdiction, Agreement, Arbitration, Assertion

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Agreement to confer exclusive jurisdiction on one of Courts to exclusion of other, neither forbidden by law nor against public policy(04.10.2016)

Instant petition filed by Petitioner against Respondent, Mahindra Logistics Limited, seeking appointment of an Arbitrator to adjudicate disputes betwe.....

Tags : Arbitrator, Appointment, Agreement, Jurisdiction

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Global Conference on Strengthening Arbitration and Enforcement in India(21.10.2016)

The National Institution for Transforming India (NITI Aayog) organised a three day Global Conference for strengthening National Initiative towards Str.....

Tags : Conference, Arbitration, Strethening

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Notifications & Circulars

Constitution of high level committee to review Institutionalization of Arbitration Mechanism in India(29.12.2016)

Justice Dispensing System in India has come under great stress for various reasons including huge pendency of cases in various courts. The injustice i.....

Tags : Committee, Constitution, Arbitration

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Mandate of an Arbitrator "shall terminate" by or pursuant to agreement of parties(25.01.2017)

This is a joint application by both Petitioner and Respondents under Section 14(2) read with Section 15 of Arbitration & Conciliation Act, 1996. Both .....

Tags : Arbitrator, Mandate, Termination

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Comments invited on the working paper of the high level committee to review the Institutionalisation of Arbitration Mechanism in India by 7 April 2017(16.03.2017)

The Government of India has emphasised the need for promoting arbitration as a preferred dispute resolution mechanism for commercial disputes. Pursuan.....

Tags : Arbitration, Mechanism, Institutionalisation, Review

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NITI Aayog Organises Workshop on Best Practices in International Arbitration(10.10.2018)

The NITI Aayog and ICC International Court of Arbitration organised the inaugural Training-cum-Brainstorming Workshop on Best Practices in Internation.....

Tags : Workshop, Best Practices, International Arbitration

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When arbitration clause is not applicable to particular work in question, arbitrator cannot be appointed(11.01.2019)

By way of present application filed under Section 11 of the Arbitration and Conciliation Act, 1996, the Petitioner, said to have entered into a contra.....

Tags : Arbitrator, Appointment, Clause

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Cabinet approves Ordinance to set up a New Delhi International Arbitration Centre(28.02.2019)

In order to make India a hub of institutionalised arbitration, Union Government has approved promulgation of an Ordinance for establishing New Delhi I.....

Tags : Arbitration Centre, Ordinance, Approval

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A party who alleged plea of fraud or coercion is under obligation to prima facie establish same(28.03.2019)

Present appeals have been filed by the Insurance Company assailing the order passed by the High Court appointing an Arbitrator in exercise of power un.....

Tags : Arbitrator, Appointment, Validity

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New Delhi International Arbitration Centre Bill, 2019 gets Cabinet’s nod(12.06.2019)

The Union Cabinet chaired by Prime Minister approves New Delhi International Arbitration Centre Bill, 2019 (NDIAC) to achieve aim of making India a hu.....

Tags : Arbitration Centre, Bill, Approval

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Court will exercise its power under Section 11(6)(a) of Arbitration Act, only where a party fails to act in accordance with appointment procedure agreed between parties(29.08.2019)

The present petition under Section 11 of the Arbitration and Conciliation Act, 1996 challenges appointment of Mr. R.S. Baswana, District and Sessions .....

Tags : Appointment, Arbitrator, Legality

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To constitute an arbitration agreement, there has to be statement of claim containing a specific allegation about existence of an arbitration agreement by one party and non denial thereof by other par(22.10.2019)

Present petition has been filed by the Petitioner under Section 11 of the Arbitration and Conciliation Act, 1996 for appointment of an Arbitrator. The.....

Tags : Dispute, Arbitrator, Appointment

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A party to an arbitration proceeding can challenge the arbitral award as soon as he receives it(25.11.2019)

The challenge in present petition under Section 34 of the Arbitration and Conciliation Act, 1996, is to an award/interim award dated May 18, 2019 pass.....

Tags : Arbitral award, Maintainability, Time period

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Ground of patent illegality is available under the statute for setting aside a domestic award, if decision of arbitrator is perverse(22.05.2020)

In the facts of present case, learned sole arbitrator has passed the arbitral award dated 29th March, 2016 in respect of Package-I holding. Similar De.....

Tags : Award, Patent illegality, Arbitrator

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Pre-deposit clauses to invoke arbitration struck down by Supreme Court as it makes arbitral process ineffective and expensive(11.03.2019)

In present case, the Respondent issued notice inviting tender for extension and augmentation of water supply, sewerage scheme, pumping station and sew.....

Tags : Arbitral process, Pre-deposit, Clause

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Limitation period would commence only from date on which signed copy of award delivered to party making the application for setting it aside(27.03.2018)

Appellants have filed present appeals challenging the judgment of the High Court by which the High Court has held that challenge to the arbitral award.....

Tags : Arbitral award, Service, Legality

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A former employee of a party to arbitration can be appointed as an arbitrator(03.01.2019)

Appellant-State issued a Letter of Acceptance to Respondent No. 1 for execution of a works contract for construction, operation and maintenance of Gur.....

Tags : Arbitrator, Appointment, Legality

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An Arbitrator shall be ineligible, if his close family member has significant financial interest in one of the parties or an affiliate of one of the parties(25.09.2020)

The Petitioner is seeking termination of the mandate of the Presiding Arbitrator under Sections 14 and 15 of the Arbitration and Conciliation Act, 199.....

Tags : Presiding Arbitrator, Mandate, Termination

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Parties may waive the applicability of Section 12(5) of A&C Act by way of an express agreement in writing after the disputes have arisen(28.01.2021)

The Petitioner has filed the present petition under Sections 14 and 15 of the Arbitration and Conciliation Act, 1996 ('A&C Act'), seeking that the man.....

Tags : Arbitrator, Appointment, Eligibility

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Section 12(5) r/w Seventh Schedule of Arbitration & Conciliation Act, 1996, which deals with ineligibility of a person to be appointed as Arbitrator, is mandatory and non-derogable provision(20.01.2021)

The Appellant No. 1 / HARSAC, Department of Science and Technology, Government of Haryana is the nodal agency for Geographic Information System (“GIS”.....

Tags : Arbitrator, Eligibility, Provision

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Limitation Period for filing application seeking appointment of arbitrator is governed by Article 137 of Limitation Act, 1963(10.03.2021)

The present appeal is against impugned orders allowing Application for appointment of Arbitrator. Appeals raise two important issues for consideration.....

Tags : Arbitrator, Appointment, Time-barred

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Emergency arbitrator’s award is enforceable under Section 17(2) of the Arbitration Act(06.08.2021)

In present case, proceedings were initiated by the Appellant, Amazon.com NV Investment Holdings LLC ["Amazon"] before the High Court under Section 17(.....

Tags : Emergency Arbitrator, Award, Enforcement

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Any written communication is deemed to have been received, if it is delivered to the addressee personally or at his place of business, habitual residence address or mailing address(23.08.2021)

The Petitioner, a company incorporated under the Companies Act, 1956, has filed the present petition under Section 11(6) of the Arbitration and Concil.....

Tags : Dispute, Appointment, Arbitrator

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News

RBI Reconstructs JLF Mechanism to Deal with NPAs(25.09.2015)

RBI has reconstructed Joint Lenders’ Forum (JLF) norms to ensure mandatory presence of representatives of two systematically important banks: SBI and .....

Tags : RBI , JLF

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Civil or Commercial dispute are to be adjudicated and resolved by Arbitral Tribunal unless the jurisdiction of the Arbitral Tribunal is excluded either expressly or by necessary implication(02.08.2021)

By present petition, the Petitioners are seeking issuance of directions to the Respondent No. 1 to proceed with resolution of disputes raised by Petit.....

Tags : Arbitral Tribunal, Adjudication, Powers

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Arbitrator either has to be appointed with the consensus of the parties or by present Court(22.11.2021)

By way of present petition, Petitioner is seeking appointment of an independent Arbitrator under the provisions of Section 11 of the Arbitration and C.....

Tags : Arbitrator, Appointment

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Once there is an arbitration clause in the agreement, it is obligatory for the court to refer the parties to arbitration in terms of the said agreement(09.11.2021)

The present petition under Article 227 of the Constitution of India impugns the judgment passed by the Additional District Judge, whereby the applicat.....

Tags : Existence, Arbitration clause, Jurisdiction

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Arbitral award shall not to be challenged on the ground that the arbitrator had drawn his own conclusion or had failed to appreciate facts(18.01.2022)

The Appellant-claimant has preferred present appeal against the judgment passed by the Division Bench of the High Court partly allowing the appeal pre.....

Tags : Arbitral award, Appreciation of Facts

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Arbitral tribunal has power to award future interests on the awarded amounts, which as expressly provided under Section 31(7)(a), may include interests on the amounts awarded(19.04.2022)

The Petitioner has issued a Notice Inviting Tender for three construction projects. The Respondent being the successful bidder entered into an agreeme.....

Tags : Interest on award, Arbitral Tribunal

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Merely because an application is filed under Section 34(4) of the Arbitration Act by a party, it is not always obligatory on the part of the Court to remit the matter to Arbitral Tribunal(03.01.2022)

Present appeal is filed, aggrieved by the order passed by the High Court of in Commercial Arbitration Petition. The High Court was of the view that th.....

Tags : Section 34(4) of the Arbitration Act, Arbitral Tribunal

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Issue of arbitrability of the dispute over non-renewal of the lease is within the realm of the Arbitral Tribunal/Arbitrator(18.08.2022)

Present appeals are against a common judgment passed by the High Court allowing Arbitration Appeal filed by the Respondents, setting aside the impugne.....

Tags : Dispute, Arbitrator, Appointment

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Court can interfere at the referral stage only when it is manifest that the claims are ex facie time-barred and dead, or there is no subsisting dispute(23.11.2022)

In present matter, disputes arose between the Appellant and the Respondents and the Appellant filed an application before the Commercial Court under S.....

Tags : Reference, dispute, Arbitration

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It is impermissible for a court to re-evaluate the material on record and supplant its view over that of the arbitral tribunal(05.12.2022)

The Appellant has filed the present appeal under Section 37(1)(c) of the Arbitration and Conciliation Act, 1996 impugning a judgment passed by the lea.....

Tags : Claim, Limitation, Arbitral award

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Procedure prescribed in the Agreement before invocation of the Arbitration Agreement necessarily needs to be followed(18.01.2023)

Present petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator for adjudicating t.....

Tags : Dispute, Appointment, Arbitrator

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An award rendered by a person who is ineligible to act as an arbitrator cannot be considered as an arbitral award(05.12.2022)

The Appellants have filed the present appeal under Section 37 of the Arbitration and Conciliation Act, 1996 ('the A and C Act') impugning an order ren.....

Tags : Arbitrator, Appointment, Disclosure

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As the existence of the Arbitration Agreement and due invocation thereof are not denied, it is not for present Court to enter into the merits of the claims raised by the parties(06.02.2023)

Present petition has been filed under Section 11 of the Arbitration and Conciliation Act, 1996 seeking appointment of an Arbitrator for adjudicating t.....

Tags : Dispute, Appointment, Arbitrator

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Appellate Court should generally not interfere unless it is apparent that the perversity of the arbitral award goes to the root of the case(20.03.2023)

Present appeal has been filed challenging the order passed by the learned Single Judge, whereby the objections of the Appellant under Section 34 of th.....

Tags : Arbitral award, Proceedings, Objections

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Decision taken by the Government in relation to the economic policies is not ordinarily interfered by the Courts unless arbitrary(29.05.2023)

The instant writ petition under Article 226 of the Constitution of India has been filed by the Petitioner as a Public Interest Litigation (PIL) seekin.....

Tags : RBI Notification, Banknotes, Exchange

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Mere negotiations will not postpone the "cause of action" for the purpose of limitation(18.05.2023)

Present is a petition under Section 11(6) of the Arbitration and Conciliation Act, 1996, filed at the instance of a company based in Switzerland and e.....

Tags : Appointment, Arbitrator, Time -period

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Power of Arbitral Tribunal to pass appropriate orders of interim measures is not eclipsed simply on account of any application being filed under Section 13 of Arbitration Act(14.08.2023)

Present application has been filed seeking setting aside of the order and restoration of appeal.It is submitted that during the pendency of the applic.....

Tags : Arbitral Tribunal, Powers, Interim Measures

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When the arbitration agreement itself is void, Court would decline to refer the parties to arbitration despite the existence of an arbitration clause(11.09.2023)

The present petition under Section 11 of the Arbitration and Conciliation Act, 1996 seeks appointment of an arbitrator for adjudication of disputes wh.....

Tags : Dispute, Appointment, Arbitrator

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Principle, ex proprio vigore, would be applicable to arbitrator and multi-member arbitral tribunal as well, particularly when it is faced with a judicial decision ordering a limited remand(19.10.2023)

Present appeal, at the instance of Appellant, registers a challenge to the judgment passed by the High Court dismissing an appeal carried by the Appel.....

Tags : Arbitral award, Quashing of, Validity

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Determination of the seat vests exclusive jurisdiction upon the courts located at the designated seat to supervise the arbitration proceedings(08.01.2024)

The Petitioner has invoked the jurisdiction of this Court under Section 11 of the Arbitration and Conciliation Act, 1996 ["Arbitration Act"] for appoi.....

Tags : Appointment, Arbitrator, Jurisdiction

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Once the seat of arbitration is fixed, the same would be in the nature of an exclusive jurisdiction clause binding the parties to a specific court(26.09.2023)

By way of present petition filed under Section 11(6) and (8) of the Arbitration and Conciliation Act, 1996 (Arbitration Act), the Petitioner seeks app.....

Tags : Appointment, Arbitration, Jurisdiction

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Abandonment of claim cannot be readily inferred, there must be convincing circumstances on record which lead to an inevitable inference about the abandonment(16.05.2024)

In present appeal, the issue involved is about the legality and validity of the order of termination of the arbitral proceedings under Clause (c) of S.....

Tags : Arbitral proceedings, Termination, Legality

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Arbitration Clause from another contract can be incorporated into the contract only by a specific reference(19.03.2024)

The present appeals challenge the interim order and final judgment passed by the High Court, whereby the High Court allowed the application under Sect.....

Tags : Appointment, Arbitrator, Legality

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Appointment of arbitrator can be challenged only in circumstances that give rise to justifiable doubt as to his independence or impartiality(04.06.2024)

Present Petition is filed under Section 11(5) of the Arbitration and Conciliation Act, 1996, ('the Act, 1996') seeking appointment of a sole Arbitrato.....

Tags : Appointment, Arbitrator, Independence

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Operation of a statute could not be curbed by private action of parties(06.08.2024)

The Petitioner is a company, which claims to be a 'small' enterprise under Section 2(m) of the Micro, Small and Medium Enterprises Development Act, 20.....

Tags : Arbitrator, Appointment, Notification

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Bombay HC: Contract Discharged by Settlement Can’t be Referred to Arbitration(18.08.2022)

Bombay High Court has held that once a settlement is arrived at by the parties, the contract between the parties stands discharged by mutual agreement.....

Tags : Bombay High Court, Arbitration, Contract, Settlement

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Stalling foreign arbitral award with Indian law rebuked(13.05.2016)

Where parties to a contract choose a seat of arbitration outside India and the law applicable is explicitly not Indian, courts in India do not have ju.....

Tags : Arbitration, abroad, jurisdiction, umpire

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Central Government Amends GFRs Permitting Payment of 75% Arbitral Amount to Contractors(10.11.2021)

Central Government has amended the General Financial Rules, 2017 (GFRs), followed by the government departments and agencies, to give effect to a Cabi.....

Tags : Central Government, Payment of Arbitral Award to Contractors

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Singapore Arbitration Panel: Future Retail Must Take Part in Arbitration Over Dispute with Amazon(22.10.2021)

Singapore Arbitration Panel has ruled that Future Retail must take part in arbitration over a commercial dispute with Amazon.com Inc, rejecting the In.....

Tags : Singapore Arbitration Panel, Future Retail, Amazon

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Complexity of Indian Financial System Warrants Robust Corp Governance in Banks, Says RBI Governor(18.01.2019)

Speaking at the 9th Vibrant Gujarat Global Summit 2019, the RBI chief said the central bank is committed to play its role as the monetary authority fo.....

Tags : RBI

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RBI appoints Smt. Surekha Marandi as New ED(03.01.2017)

The Reserve Bank of India has appointed Smt. Surekha Marandi as Executive Director (ED) consequent upon superannuation of Shri U.S. Paliwal who retire.....

Tags : Appointment, Executive Director, RBI

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Delhi HC: Interlocutory Order Rejecting Application for Amendment of Claims is Not Challengeable(12.09.2022)

Delhi High Court has held that all interlocutory orders passed by the Arbitral Tribunal are not amenable to challenge under Articles 226 and 227 of th.....

Tags : Delhi High Court, Arbitral Tribunal, Articles 226, Articles 227

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Reserve Bank of India issues Revised Master Directions on Fraud Risk Management in the Regulated Entities(15.07.2024)

The Reserve Bank of India (RBI) has issued three revised Master Directions on Fraud Risk Management applicable to various Regulated Entities (REs). Th.....

Tags : RBI, RE, Early Warning Signals, Red Flagging of Accounts

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Del. HC: Claims Settled Under RP Becomes Non-Arbitrable(13.10.2023)

Delhi High Court has held that the IBC and resolution process doesn’t contemplate matters being left inchoate and exhorts one to accept the seal of fi.....

Tags : Delhi High Court, Resolution Plan, Non-Arbitrable

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Dispute arising under the lease being governed under Transfer of Property Act are arbitrable(18.12.2020)

The Petitioner has instituted present petition under Section 11(5) of the Arbitration and Conciliation Act, 1996 seeking appointment of a Sole Arbitra.....

Tags : Arbitration Clause, Appointment, Arbitrator

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Delhi HC Seeks Centre’s Response on Surcharge on Debit, Credit Card Payments(18.05.2016)

Delhi HC has sought response of Centre and RBI on a plea against "illegal" surcharge levied on transactions done through debit and credit cards across.....

Tags : Delhi HC , Centre, RBI

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Court of Arbitration for Sport Cuts Down Four-Year Ban on Russia from World Athletic Events(18.12.2020)

Court of Arbitration for Sport has cut the four-year ban on Russia competing in international athletic competition because of its state-sponsored dopi.....

Tags : Court of Arbitration for Sports, Ban on Russia from World Athletic Events

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Delhi High Court: Seat of Arbitration Is Decided as Per Arbitration Agreement(27.09.2021)

Delhi High Court has observed that the seat of arbitration is to be decided according to the arbitration agreement between the parties and that the Ru.....

Tags : Delhi High Court, Seat of Arbitration

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Mere Delay in Passing Award by Itself can't be Ground to Appoint Another Arbitrator: SC(24.01.2019)

Supreme Court has observed that mere neglect of an arbitrator to act or delay in passing the award by itself cannot be the ground to appoint another a.....

Tags : Supreme Court, Ground to Appoint Another Arbitrator

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Cal. HC: Intention of Parties to be Deciphered to Decide if Parties Must be Referred to Arbitration(02.08.2022)

Calcutta High Court has held that where arbitration clause between parties provided that "every effort" should be made by them to settle dispute by ar.....

Tags : Calcutta High Court, Every Effort, Arbitration

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RBI Appoints Aadhaar Architect Nandan Nilekani as Chairman of Panel on Digital Payments(09.01.2019)

The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial in.....

Tags : RBI

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Delhi HC: In Absence of Anything Contrary, Venue of Arbitration Will be Seat of Arbitration(03.11.2023)

Delhi High Court has held that in absence of anything contrary in the arbitration agreement, the venue of arbitration would actually be the seat of ar.....

Tags : Delhi High Court, Arbitration, Venue, Seat

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Use of Word 'Mediation' in Arbitration Clause Does Not Change Character of Clause(07.11.2022)

Delhi High Court has held that arbitration clause would not lose its character merely because the word 'mediation' has been used as its nomenclature a.....

Tags : Delhi High Court, Arbitration, Mediation

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How is Google Pay App Operating Without Authorisation, Delhi HC Asks RBI(12.04.2019)

The petition has sought a direction to RBI to order Google to "immediately" stop GPay's "unauthorised operation" in India.

Tags : RBI

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SC: Mere Use of Words ‘Arbitration’ or ‘Arbitrator’ in Clause Won't Make it Arbitration Agreement(04.08.2022)

Supreme Court has held that mere use of the word "arbitration" or "arbitrator" in a clause will not make it an arbitration agreement, if it requires o.....

Tags : Supreme Court, Arbitration, Clause, Consent of Parties

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RBI Imposes Rs 1.75-Crore Penalty on Indian Bank for Non-Compliance(21.11.2019)

Reserve Bank of India has imposed a monetary penalty of a total of Rs 1.75 crore on Indian Bank for non-compliance with its various directions. The no.....

Tags : RBI, Indian Bank

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RBI Increases Withdrawal Limit from PMC Bank to Rs 50,000(06.11.2019)

Reserve Bank of India has enhanced the withdrawal limit of PMC Bank depositors to Rs 50,000 from the previous cap of Rs 40,000. RBI further said that .....

Tags : RBI, PMC Bank

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Del. HC: Court Can’t Set Aside Majority Opinion of the Arbitral Award(02.01.2024)

Delhi High Court has held that a party can’t file a petition u/s 34 of A&C Act for setting aside a majority or a dissenting opinion, as in the event C.....

Tags : Delhi High Court, Arbitral Award, Majority Opinion

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SC: HC Should Not Entertain Dispute Which is Arbitrable Unless Issue of Public Interest(02.04.2021)

Supreme Court has observed that ordinarily a High Court in its jurisdiction under Article 226 of the Constitution of India, 1949 has to decline to ent.....

Tags : Supreme Court, Arbitrable Dispute

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Monetary policy announced; RBI keeps repo rate unchanged at 4% while maintaining accommodative stance(05.02.2021)

The Reserve Bank of India (RBI) announced its monetary policy. In its first policy after the Budget 2021, Monetary Policy Committee of RBI kept its re.....

Tags : RBI, Monetary Policy

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Former Employee Not Disqualified from Acting As An Arbitrator: SC(04.01.2019)

Supreme Court has held that the Arbitration and Conciliation Act, 1996, does not disqualify a former employee from acting as an arbitrator, provided t.....

Tags : Former employee, Arbitrator

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If Agreement Has Exclusive Jurisdiction Clause, Courts Cannot Be Approached: Delhi HC(11.12.2017)

Delhi High Court has dismissed an Application filed under Section 11 of the Arbitration and Conciliation Act, 1996, noting that the agreement specifie.....

Tags : Delhi High Court, Arbitration

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Cal. HC: Conduct of the Parties Can't Substitute Arbitration Agreement(22.08.2022)

Calcutta High Court has held that Court while exercising powers under Section 11 of Arbitration & Conciliation Act is bound to examine existence of ar.....

Tags : Calcutta High Court, Arbitration Agreement, Objections

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Tax on arbitral tribunal services to be borne by recipient(18.05.2016)

Service tax liability for services provided by an arbitral tribunal shall be on the service recipient if it’s a business entity.

The Depar.....

Tags : Service tax, arbitral tribunal, recipient, reverse charge

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SC: Arbitration - 2015 Amendment Won't Apply to Section 34 Applications Filed Prior to It(12.11.2021)

Supreme Court has held that the 2015 amendment to Section 34 of the Arbitration and Conciliation Act 1996 will apply only to Section 34 applications t.....

Tags : Supreme Court, Arbitration - 2015 Amendment

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Sole Arbitrator, who was appointed by designation, can continue the arbitration proceedings even after his retirement and can pass the award(20.09.2021)

A contract was entered into between the parties regarding the earthwork vide agreement dated 06.02.1988. During the contract work, various disputes an.....

Tags : Sole Arbitrator, Retirement, Continuation of Proceedings

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Order Rejecting Appln. for Impleading 3rd Party is Not Interim Arbitration Award(26.12.2022)

Delhi High Court has held that an order of tribunal rejecting the application for impleading a party to arbitration is not an interim award but merely.....

Tags : Delhi High Court, Interim Arbitration Award, Impleading

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RBI Policy: Interest Rates Unchanged, GDP Growth Forecast Lowered(06.12.2019)

Reserve Bank of India has released its fifth bi-monthly monetary policy statement for 2019-20 in which the Monetary Policy Committee, decided to keep .....

Tags : RBI Policy, Interest Rates

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SC Allows NGO to Make RBI Party in WhatsApp Payment Service Matter(15.01.2019)

A bench of Justices R F Nariman and Vineet Saran asked advocate Virag Gupta, appearing for the NGO, to file an application seeking to make RBI as a pa.....

Tags : RBI

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Urjit Patel Quits As RBI Governor(10.12.2018)

Reserve Bank of India Governor Urjit Patel has stepped down from his post as RBI Governor citing "personal reasons". Mr Patel was appointed in 2016 fo.....

Tags : RBI Governor, Urijit Patel

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Allahabad HC: Non-Availability of Agreement Not Material if Parties Don’t Dispute its Existence(06.09.2022)

Allahabad High Court has held that an application under Section 8 of the Arbitration and Conciliation Act cannot be rejected merely because the origin.....

Tags : Allahabad High Court, Arbitration, Agreement

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Telangana HC: Principles of Natural Justice to be Read Into Master Circular Issued by RBI(31.12.2020)

Telangana High Court has held that the principles of natural justice have to be read into the Master Circular issued by the Reserve Bank of India on t.....

Tags : Telangana High Court, RBI Master Circular, Principles of Natural Justice

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Kerala HC: Where Dispute Not Adjudicated Upon by Authority, Dispute Becomes Arbitrable(08.12.2021)

Kerala High Court has ruled that if a dispute is to be adjudicated upon by an authority other than the Arbitrator as per the agreement between the par.....

Tags : Kerala High Court, Arbitrability of Dispute

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Delhi HC: Parties Can be Referred to Arbitration Even if Agreement Not Signed by a Party(02.08.2022)

Delhi High Court has held that it is not necessary for the written document to be signed by all the parties, as long as the existence of an arbitratio.....

Tags : Delhi High Court, Arbitration, Signed

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RBI Issues Guidelines on Use of Tokenisation to Make Contactless Card Payments Safer(09.01.2019)

For now, this facility will be offered only through mobile phones and tablets and its extension to other devices will be examined by the regulator lat.....

Tags : RBI

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After Shaktikanta Das' Appointment as RBI Governor, Arvind Subramanian Reminds Autonomy is Sacred(13.12.2018)

"What is going to be key is whether this (restoring financial system agenda) is maintained going forward. That is going to be the yardstick to me.....

Tags : RBI

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Delhi HC: Payment Aggregators Fall Within Definition of Payment System(19.09.2022)

Delhi High Court has held that payment aggregators fall within the definition of designated payment system under Section 23A of the Payment and Settle.....

Tags : Delhi High Court, Payment System, RBI

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TL HC: First Committee On Wilful Defaulters Not Obligated To Mention Its Composition In Its Order(19.10.2022)

Telangana High Court has ruled that as per Clause 3(a) of the RBI Master Circular on Wilful Defaulters dated 01.07.2015, the First Committee is not ob.....

Tags : Telangana High Court, RBI, Circular

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Delhi HC Dismisses Execution Plea by Decree Holder for Arbitral Award(31.01.2022)

Delhi High Court has dismissed an execution petition filed under Section 36 of the Arbitration & Conciliation Act, 1996 by a Decree Holder for an arbi.....

Tags : Delhi High Court, Execution of Arbitral Award

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RBI Cuts Provisioning Norm for Advances to Large Accounts Now Before NCLT(05.04.2018)

Reserve Bank of India has reduced the provisioning requirement for large accounts referred to the National Company Law Tribunal (NCLT) up to March 31,.....

Tags : RBI, NCLT

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Madhya Pradesh High Court Stays RBI Circular on Urban Cooperative Banks(06.09.2021)

Madhya Pradesh High Court has stayed a circular issued by the Reserve Bank of India (RBI) on June 25 which laid down several conditions related to Urb.....

Tags : Madhya Pradesh High Court, RBI Circular on Urban Cooperative Banks

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RBI Kept Growth Forecast for 2019 Unchanged and This Should be Music to Govt's Ears(06.12.2018)

But despite the bonhomie with the RBI on growth forecast, the government may remain watchful of the risks.

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RBI Directs Banks to Cap Stake in Insurance Companies at 30%(27.12.2019)

Reserve Bank of India has directed lenders to cut their stakes in insurers to 30%, as the banking regulator attempts to shield banks from risks arisin.....

Tags : RBI, Insurance Companies

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Allahabad HC: Arbitration Under Highways Act Limited to Independent Determination of Compensation(19.02.2021)

Allahabad High Court has ruled that arbitration under section 3-G (5) of The National Highways Act, 1956 is limited to the determination of the fair a.....

Tags : Allahabad High Court, Arbitration Under Highways Act

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RBI Hikes Repo Rate by 25 bps(06.06.2018)

Reserve Bank of India has hiked the repo rate by 25 bps (basis points) or 0.25 per cent to 6.25 per cent. The central bank has also increased the reve.....

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Govt Sacks 2 PNB Executives for Ignoring RBI Advice That May Have Prevented Nirav Modi Fraud(21.01.2019)

The executive directors allegedly failed to follow RBI advice to link SWIFT (Society for Worldwide Interbank Financial Telecommunication) with the cor.....

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MP HC: Notice of Proceeding Under Section 11 of The A&C Act is a Mandatory Requirement(01.08.2022)

Madhya Pradesh High Court has held that it is mandatory for a High Court to issue notice of application under Section 11 of the Arbitration & Concilia.....

Tags : Madhya Pradesh High Court, Arbitration & Conciliation, Notice

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Charging Exorbitant Fee can Lead to Termination of Arbitrator's Mandate: Rajasthan HC(07.01.2019)

Rajasthan High Court has terminated the mandate of an arbitrator for charging exorbitant fee beyond the prescribed limit.

Tags : Rajasthan High Court, Termination of Arbitrator's Mandate

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Cal HC: Writ is Maintainable against Award by Statutory Arbitrator Violating of Principles of Natural(12.09.2022)

Calcutta High Court has held that an award passed by the statutory arbitrator under the National Highways Act, 1956 where neither the notice of arbitr.....

Tags : Calcutta High Court, Arbitrator, Natural Justice

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Sensex Drops by 400 Points as Investors React to Election Polls, Urjit Patel’s Resignation as RBI Governor(12.12.2018)

The Sensex is down 404 points at 34639.58, while the Nifty is lower by 78.30 points at 10410.65.

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Supreme Court Supports RBI Decision to Ban Indian Crypto Services(14.05.2018)

Supreme Court has turned down a request to issue a temporary order against restrictions put by the central bank on other banks related to digital curr.....

Tags : Supreme Court, RBI

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Maharashtra RERA Directs Developer To Hand Over Two Properties With Interest For Delayed Possession(17.10.2022)

Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Orbit Enterprises to hand over possession of two units at BKC, Mumbai, to actor S.....

Tags : Maharashtra Real Estate Regulatory Authority, Saif Ali Khan, Orbit Enterprises

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Delhi HC: Sale of Refurbished Hard Disks at Nehru Place Amounts to Trademark Infringement(22.09.2022)

Delhi High Court has held that passing off old and used hard-disk drives, after tampering with their labels and printed circuit board, as new product .....

Tags : Delhi High Court, Trademark, Refurbished

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Reporting of Transactions by agency banks to RBI(30.11.2017)

It has been brought to our notice that some agency banks are reporting government transactions after considerable delay and along with the current tra.....

Tags : RBI, Agency Banks, Transactions

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RBI Enhances PMC Bank Depositors Withdrawal Limit to Rs 25,000(04.10.2019)

Reserve Bank of India has enhanced the withdrawal limits for depositors of the scam-hit Punjab & Maharashtra Cooperative Bank (PMC) to Rs 25,000 from .....

Tags : RBI, Withdrawal Limit

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Delhi HC Refuses To Stay Arbitration Against India Govt by Mauritius Company for Refund of 2G License(31.01.2019)

Delhi High Court has refused to stay international arbitration proceedings initiated against Union of India out of a Bilateral Investment Treaty (BIT).....

Tags : Delhi High Court, Arbitration, 2G License fees

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Bombay HC: Award Need Not be Set Aside for Mere Erroneous Application of Law(23.08.2022)

Bombay High Court has held that when the court is convinced that the Arbitrator has erred only on specific issues and that the arbitral award is other.....

Tags : Bombay High Court, Arbitrator, Erroneous Application

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Del HC: Courts Shouldn’t Interfere in Issue of Increase in Salary of Office Bearers Unless Arbitrary(02.11.2022)

Delhi High Court has held that increase in salaries of office bearers of a Commission is a policy decision of the State, and the courts should refrain.....

Tags : Delhi High Court, Salary, Arbitrary

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Cal. HC: Requirements of S.21 Arbitration Act Must be Complied Before Invoking Jurisdiction U/S 11(03.10.2022)

Calcutta High Court while hearing application under Section 11 of Arbitration and Conciliation Act, 1996 (Arbitration Act), held that since requiremen.....

Tags : Calcutta High Court, Arbitration, Premature

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

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Bom HC: Arb. Clause Can’t be Invoked By Individuals/Minorities Of Housing Society In Dev. Agreement(09.02.2024)

Bombay High Court has held that individual/minority members of society cannot invoke arbitration clauses in development agreements against developer b.....

Tags : Bombay High Court, Housing Society, Development Agreement, Arbitration Clauses

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Madhya Pradesh HC: Delegation of Work Shall not Lead to Arbitrary Reduction of Contract Wages(22.01.2024)

Madhya Pradesh High Court has held that contract wages of employees cannot be reduced arbitrarily and illegally in case of delegation of work.

Tags : Madhya Pradesh High Court, Contract Wages, Arbitrary Reduction

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SC: PMLA Judgment Allowing Taking Possession of Property Before Trial Leaves Scope for Arbitrariness(24.08.2022)

Supreme Court while delivering judgment related to Benami Transaction Prohibition Act, stated that ratio of the recent PMLA judgment in relation to Se.....

Tags : Supreme Court, PMLA, Arbitrariness

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Morbi Court Sends 4 Accused to Police Custody Till Nov 5 in Morbi Bridge Collapse Case(03.11.2022)

Morbi Court while sending four accused to 5-day police custody in connection with the October 30 Morbi Bridge Collapse incident has observed that alle.....

Tags : Morbi Court, Bridge Collapse, Police Custody

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TENANCY - Whether Disputes Between Landlord-Tenant Arbitrable: SC Refers the Question to Larger Bench(08.03.2019)

Supreme Court has referred to larger bench the correctness of its judgment in Himangni Enterprises v. Kamaljeet Singh Ahluwalia, in which it was held .....

Tags : Supreme Court, Himangni Enterprises v. Kamaljeet Singh Ahluwalia, Landlord-Tenant Arbitrable

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Delhi HC Delineates Circumstances to Invoke Group of Companies Doctrine(11.10.2022)

Delhi High Court has held each Company is a separate legal entity, hence, an agreement entered into by one of the Companies in a group, cannot be bind.....

Tags : Delhi High Court, Group of Company, Arbitration Agreement

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

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SC: Limitation U/S 34 A&C Act in Case of Suo Moto Correction of Award is Date of Correction(11.01.2023)

Supreme Court has held that starting point for limitation under Section 34(3) Arbitration and Conciliation Act, in case of suo moto correction of awar.....

Tags : Supreme Court, Correction of Award, Arbitration, Limitation

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SC: Award Shall Not be held Invalid Merely Because it Doesn’t Measure Up in Quality to Legal Mind(25.09.2023)

Supreme Court while observing that an award which doesn’t measure up in quality to a legal mind wouldn’t be held to be invalid on this score, has held.....

Tags : Supreme Court, Arbitrator, Approach, Equity

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Bombay HC: Court Cannot Undertake Independent Assessment of Arbitral Award U/S 37 of A&C Act(04.12.2023)

Bombay HC has held that under Section 37 of Arbitration & Conciliation Act, the challenge must be related to the impugned order passed under Section 3.....

Tags : Bombay HC, Arbitration & Conciliation Act, Section 37, Section 34

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CIVIL - Delhi HC Stays Appointment of Custodian of Undertakings of International Arbitration Centre(11.03.2019)

Delhi High Court has stayed order appointing Dr. Rajiv Mani, Joint Secretary & Legal Advisor, Department of Legal Affairs, Ministry of Law & Justice a.....

Tags : Delhi High Court, International Arbitration Centre

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SC: 'Group of Companies' Doctrine must be Retained in the Indian Arbitration Jurisprudence(06.12.2023)

Supreme Court has held that the 'group of companies' doctrine must be retained in the Indian arbitration jurisprudence considering its utility in dete.....

Tags : Supreme Court, 'Group of Companies', Arbitration

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

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Del. HC: Appln. U/S 34 A&C Act Doesn’t Cease to be Only Because Procedural Requirements Not Complied(13.01.2023)

Delhi High Court has held that an application to set aside an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996 (A&C Act) .....

Tags : Delhi High Court, Arbitration and Conciliation Act, Procedural Requirements

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SC: Reference to Facilitation Council Maintainable In Spite of Independent Arbitration Agreement(01.11.2022)

Supreme Court has held that reference made to Facilitation Council is maintainable in spite of an independent arbitration agreement existing between t.....

Tags : Supreme Court, Facilitation Council, Arbitration Agreement, MSME

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SC: Chief Justice Free to Appoint Arbitrator Even If Arbitration Agreement Provides Otherwise(29.03.2017)

Supreme Court has held that even if an arbitrator is specified in agreement for arbitration, Chief Justice or designated Judge is free to appoint an i.....

Tags : Supreme Court, Chief Justice, Independent Arbitrator

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SC: 2015 Judgment Directing RBI to Disclose Defaulters List Might Affect Customer’s Privacy(03.10.2022)

Supreme Court has expressed prima facie doubts about its 2015 judgment in case of Reserve Bank of India v. Jayantilal Mistry which had held RBI was ob.....

Tags : Supreme Court, RBI, Defaulter’s List

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

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Bombay HC Makes E-Filing Mandatory for Criminal, Arbitration and Civil Contempt Cases(02.01.2023)

Bombay High Court has made e-filing of new criminal cases, arbitration petitions and civil contempt petitions mandatory from January 9, 2023. E-filing.....

Tags : Bombay High Court, E-Filing, Criminal, Arbitration, Civil Contempt

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An award can be set aside only if the award is against the public policy of India(11.01.2022)

The Appellant - Haryana Tourism Limited ('Corporation') invited tenders/quotations for the supply of Aerated Cold Drinks at its Tourist Complexes for .....

Tags : Award, Arbitrator, Jurisdiction

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Cal. HC: Section 9 of A&C Act Applies to Foreign Seated Arbitration Also(05.12.2022)

Calcutta High Court has held that Section 9 of Arbitration and Conciliation Act is a provision that is in aid of arbitration proceedings in contrast t.....

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SC Refers the NN Global Judgment to 7 Judge Bench to adjudicate on Correctness of the Judgment(26.09.2023)

Supreme Court has while considering the larger ramification and the view of the majority in N.N. Global Mercantile Pvt. Ltd. v. Indo Unique Flame Ltd......

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Central Government Introduces Arbitration and Conciliation (Amendment) Bill, 2021(05.02.2021)

Central Government has introduced the Arbitration and Conciliation (Amendment) Bill, 2021 in Lok Sabha to amend the arbitration law to ensure that all.....

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All. HC: MSMED Act Overrides Arbitration and Conciliation Act 1996(13.12.2023)

Allahabad High Court while observing that private agreement can’t obliterate statutory provisions, has held that once statutory mechanism under Sectio.....

Tags : Allahabad High Court, MSMED Act, Arbitration

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Parties to an arbitration agreement have autonomy to decide on both procedural and substantive law(15.12.2016)

In instant case, Parties entered into a contract and disputes arose between them. Contract contained an arbitration Clause and Centrotrade invoked it......

Tags : Arbitration, Procedure, Jurisdiction

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

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SC: Specific Reference Needed to Effect Incorporation of Arbitration Clause in Another Contract(21.03.2024)

Supreme Court has held that when parties enter into a contract, making a general reference to another contract, such general reference would not have .....

Tags : Supreme Court, Incorporation, Arbitration Clause

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New Rules For Expedited And Cost-Efficient ICC Arbitration In Operation From 1 March 2017(10.03.2017)

International Chamber of Commerce (ICC) has introduced new rules for expedited proceedings that apply to all arbitration agreements entered into from .....

Tags : International Chamber of Commerce, Arbitration

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RBI Releases 5th Bi-Monthly Monetary Policy, Repo Rate Unchanged at 6.5%(06.12.2018)

Reserve Bank of India (RBI) has released its fifth Bi-monthly monetary policy and has kept the repo rate unchanged at 6.50%.

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RBI Introduces New Prepaid Payment Instrument for Daily Grocery Payments(26.12.2019)

Reserve Bank of India has given consumers a new option to make their daily payments at local shops and retail outlets for the purchase of daily househ.....

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Calcutta HC: Unreasoned Arbitral Awards are Opposed to Public Policy Under Section 34 of A&C Act(21.01.2020)

Calcutta High Court has set aside an arbitral award that was found to be bereft of proper reasoning and application of mind. The Court has held that a.....

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Arbitrator Can’t Issue Further Directions in an Award Without Proper ‘Adjudication': Delhi HC(04.06.2018)

Delhi High Court has held that an arbitrator cannot issue further ‘directions’ in an award based on settlement, without hearing both the parties in a .....

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Withdrawal of old series banknotes issued prior to 2005 deferred(11.02.2016)

The Reserve Bank of India extended the deadline for exchanging pre-2005 banknotes to 30 June, 2016. Exchange on banknotes in 2016 will only be done at.....

Tags : Rbi, banknotes, pre-2005, deadline, extend

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Supreme Court Invalidates Sec 87 of Arbitration & Conciliation Act Inserted through 2019 Amendment(28.11.2019)

Supreme Court has struck down Section 87 of the Arbitration and Conciliation Act, 1996 which was inserted through the 2019 Amendment Act passed by the.....

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Kerala High Court Lays Down Two Modes to Appoint Sole Arbitrator(03.08.2022)

Kerala High Court has held that sole arbitrator can only be appointed either by High Court or by express agreement in writing between parties in dispu.....

Tags : Kerala High Court, Sole Arbitrator, Modes

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RBI Withdraws Few Exemptions Granted to HFIs(12.11.2019)

Reserve Bank of India has withdrawn some exemptions granted to mortgage finance companies in terms of complying with regulations such as provisions an.....

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RBI Issues New Guidelines Over Private Bank CEO Remuneration(05.11.2019)

Reserve Bank of India has told private banks to raise the variable portion of remuneration to at least half of the total for their chief executives a.....

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Del. HC: Denial of Arb. Agreement in S.21 Notice Doesn’t Entitle Court to Refuse Referral to Arb.(07.11.2023)

Delhi High Court has held that merely because a party denied the existence of an arbitration agreement in reply to Notice under Section 21 of A&C Act,.....

Tags : Delhi High Court, Arbitration, Section 21, Notice

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Unilateral Constitution of a Narrow Panel of Arbitrators Violates Impartiality(25.08.2022)

Delhi High Court has held that power conferred on one party to unilaterally choose names from a panel of arbitrators and forwarding it to the other pa.....

Tags : Delhi High Court, Arbitrators, Impartiality

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SC: Issue of Arbitrability Should be Left to Arbitrator Unless Found That Dispute is Non- Arbitrable(07.11.2022)

Supreme Court has held that while considering application under Section 11(6) of Arbitration and Conciliation Act, dispute with respect to arbitrabili.....

Tags : Supreme Court, Arbitration

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RBI Says No Data on Demonetised Rs 500, 1,000 Notes Used at Petrol Pumps(10.03.2019)

In reply to an RTI query, the RBI said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps......

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Delhi HC: Use of The Word 'Can' in an Arbitration Clause Does Not Render it Ineffective(13.10.2022)

Delhi High Court has held that mere use of the word 'can' in an arbitration clause does not render it ineffective and the intention of the parties to .....

Tags : Delhi High Court, Arbitration, Intention of Parties

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Party Can’t Challenge Arbitral Award After Receiving Payment of Decided Amount(29.01.2024)

Delhi High Court has held that a party that has received payment in terms of an arbitral award cannot challenge the award with respect to the disallow.....

Tags : Delhi High Court, Arbitral Award, Disallowed Claims

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Delhi HC: Court Cannot Review Order Passed U/S 11 of A&C Act(12.01.2023)

Delhi High Court has held that orders passed in an application filed under Section 11 of Arbitration and Conciliation Act, 1996 (A&C) cannot be review.....

Tags : Delhi High Court, Arbitration and Conciliation, Review

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SC: Execute Arbitral Award Secured by DAMEPL Against DMRC in 3 Months(15.12.2022)

Supreme Court has directed execution of Rs 7,200 crore arbitral award won by Delhi Airport Metro Express Private Limited (DAMEPL) against State-owned .....

Tags : Supreme Court, DMRC, Arbitral Award

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De-notification of Arbitration clause in all tariff products under Fire, Motor and Engineering, Workmen's Compensation and other classes of insurance business(23.01.2024)

In exercise of the powers conferred by sub section (1) of section 64 ULA of the Insurance Act, 1938, the Authority hereby de-notifies the Arbitration .....

Tags : Arbitration clause, Insurance business, Denotification

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RBI to issue of Rs. 100 banknotes with inset letter 'L'(20.04.2016)

The Reserve Bank of India continued its trend of “ascending size of numerals” on bank notes with changes to Rs. 100 currency notes. The notes will be .....

Tags : rbi, banknotes, 100

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HC can Execute Foreign Arbitration Award Despite Change in Pecuniary Jurisdiction: Delhi HC(04.12.2018)

Delhi High Court has held that jurisdiction to execute foreign arbitration award continues with the high court, despite the change in pecuniary jurisd.....

Tags : Delhi High Court, Arbitration Award, Pecuniary Jurisdiction

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RBI Eases Ban for those Looking to Buy Stake of Foreign Firms in India(04.10.2019)

Reserve Bank of India (RBI) has clarified that there would be no “blanket ban” on Indian companies wanting to buy stakes in overseas firms, which alre.....

Tags : RBI, Foreign Firms

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RBI Opens 24x7 NEFT Window(17.12.2019)

Reserve Bank of India has allowed National Electronic Funds Transfer (NEFT) facility available for 24 hours a day throughout the year starting 16th De.....

Tags : RBI, NEFT

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Delhi High Court: Scope of Interference with International Commercial Arbitration is Limited(20.01.2020)

Delhi High Court has dismissed a German manufacturer's claim for damages against Bharat Heavy Electricals Limited, India. The Court observed that the .....

Tags : Delhi High Court, International Commercial Arbitration

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Del. HC: Remedy of Arbitration Not Excluded from U.P Regulation of Cold Storages Act(13.10.2023)

Delhi High Court has held that Uttar Pradesh Regulations of Cold Storage Act 1976 does not provide any special right, remedy or procedure that cannot .....

Tags : Delhi High Court, Arbitration, Cold Storages Act

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International Arbitration Tribunal Directs India to Pay Damages to Cairn in Tax Dispute(24.12.2020)

International Arbitration Tribunal has asked India to pay Rs 8,000 Crores as damages in a tax dispute to the UK oil major Cairn Energy Plc. to rever.....

Tags : International Arbitration Tribunal, Cairn Energy Plc

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Enhancing Credit Supply for Large Borrowers through Market Mechanism(12.05.2016)

The Reserve Bank of India released a paper on Framework for enhancing .....

Tags : rbi, large borrower, risk, asset

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SC: ‘Existence of Arbitration Agreement’ Would Include Aspect of Validity of Arbitration Agreement(16.12.2020)

Supreme Court has held that the expression 'existence of arbitration agreement' in Section 11 of the Arbitration and Conciliation Act, 1996 would incl.....

Tags : Supreme Court, Validity of Arbitration Agreement

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Bom. HC: Remedy Under the SARFAESI Act and A&C Act Work in Tandem(27.12.2023)

Bombay High Court while observing that debt owed to financial institutions under SARFAESI is arbitrable, has held that remedy under the SARFAESI Act i.....

Tags : Bombay High Court, SARFAESI, Arbitration

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Delhi HC Discards RBI Appeal Against Order for Reconsideration of JSPL Plea(30.03.2021)

Delhi High Court has dismissed an appeal by the Reserve Bank of India (RBI) against an earlier order of a Single-Judge which had directed the RBI to r.....

Tags : Delhi HC, RBI

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Delhi High Court: Contractual Clauses and Party’s Conduct Infer Seat of Arbitration(20.02.2024)

Delhi High Court has held that determination of seat of arbitration should be done on the basis of the clauses of agreement and the conduct of parties.....

Tags : Delhi High Court, Seat of Arbitration, Contractual Clauses

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Delhi HC: Notice Stating Right To Initiate Arbitration Not A Notice U/S 21 A&C Act(20.10.2022)

Delhi High Court has held that a notice issued by a party, stating its right to initiate arbitral proceedings, which it would subsequently initiate if.....

Tags : Delhi High Court, arbitral

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SC: Section 12(5) Of Arbitration & Conciliation Act is Mandatory & Non- Derogable Provision(22.01.2021)

Supreme Court has observed that the Section 12(5) of the Arbitration and Conciliation Act, 1996 read with the Seventh Schedule, which deals with ineli.....

Tags : Supreme Court, Section 12(5) Of Arbitration & Conciliation Act

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SC Suggests Amendments to Sections 11(7), 37 of Arbitration and Conciliation Act(09.03.2021)

Supreme Court has observed that the amendments to Section 11(7) and 37 of the Arbitration and Conciliation Act, 1996 might be necessary so that the or.....

Tags : Supreme Court, Amendments to Arbitration and Conciliation Act

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SC: Arbitration Reference Can be Declined if Dispute Does Not Correlate to Arbitration Agreement(23.09.2021)

Supreme Court has observed that prayer for reference to Arbitration under Section 11 of the Arbitration and Conciliation Act, 1996 can be declined if .....

Tags : Supreme Court, Arbitration Reference

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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IFSCA executes MoU with the Reserve Bank of India(16.11.2022)

The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have entered into a Memorandum of Understanding (Mo.....

Tags : IFSCA, MOU, RBI

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RBI releases Consultation Paper on Peer to Peer Lending(28.04.2016)

The Reserve Bank of India released a Consultation Paper on Peer to Peer Lendin.....

Tags : peer to peer, lending, rbi, crowd-funding

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Challenge to Arbitrator Appointed should be Raised Before Arbitrator Himself First: SC(05.12.2018)

Supreme Court has reiterated that any challenge to arbitrator appointed should be raised before arbitrator himself under Section 13 of the Arbitration.....

Tags : Supreme Court, Arbitrator, Appointment of Arbitrator

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RBI Cuts Repo Rate from 5.40% to 5.15%(04.10.2019)

Reserve Bank of India (RBI) has lowered its key lending rate or the repo rate by 0.25 per cent — from 5.40 per cent to 5.15 per cent in its fourth bi-.....

Tags : RBI, Repo Rate

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Supreme Court: Arbitration Rulings Should not be Muddled(19.12.2019)

Supreme Court has observed that arbitration awards should be intelligible, reasoned and adequate, in order to avoid wastage of time for the parties co.....

Tags : Supreme Court, Arbitration

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Calcutta HC: Application to Set Aside Arbitral Award Cannot Be Put on Hold Due to Invocation of IBC(20.01.2020)

Calcutta High Court has stated that an application to set aside an arbitral award under the Arbitration and Conciliation Act, 1996 cannot be kept in a.....

Tags : Calcutta High Court, Set Aside of Arbitral Award, Insolvency and Bankruptcy Code Provisions

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Lok Sabha Passes Arbitration and Conciliation (Amendment) Bill, 2021(12.02.2021)

Lok Sabha Passes Arbitration and Conciliation (Amendment) Bill, 2021 repealing the Arbitration and Conciliation (Amendment) Ordinance, 2020 promulgate.....

Tags : Arbitration Act, Amendment

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RBI creates Helpline for guiding Start-ups in India on Forex Matters(22.12.2015)

The Reserve Bank of India has created a dedicated email helpline for start-ups in India, offering guidance and assistance to undertake cross-border tr.....

Tags : Rbi, foreign exchange, start-up, email assistance

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Supreme Court: Person Interested in Outcome of Dispute Must not have Power to Appoint Sole Arbitrator(27.11.2019)

Supreme Court has reiterated that a person who has an interest in the outcome or decision of the dispute must not have power to appoint a sole arbitra.....

Tags : Supreme Court, Arbitrator

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Delhi HC: Recovery of LD Not Time Barred if Imposition of LD Was Contingent on Extension of Time(02.08.2022)

Delhi High Court has held that arbitrator cannot reject the claim of a party for refund of Liquidated Damages (LD) as barred by time if it was inextri.....

Tags : Delhi High Court, Arbitration, Liquidated Damages

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Not Considering Any Proposal to Give More Powers to RBI: Finance Minister(09.01.2019)

The decision comes months after a tussle between the government and the RBI over the transfer of surplus funds and the reworking of lending options.

Tags : RBI

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Bombay High Court to RBI: What Steps have Been Taken to Help PMC Bank Depositors(05.11.2019)

Bombay High Court has sought to know from the Reserve Bank of India what steps it has taken to protect the interests of depositors of the crisis-hit P.....

Tags : Bombay High Court, RBI

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SC: For an Arbitration Clause to be Legally Binding it has to be in Consonance with Constitution(07.11.2023)

Supreme Court has held that for arbitration clause to be legally binding it has to be in consonance with “operation of law” which includes the Grundno.....

Tags : Supreme Court, Constitution, Arbitration Clause

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Ker. HC: S.5 of Limitation Act Not Applicable to Condone Delay in Filing Plea u/s 34 of A&C Act(22.12.2023)

Kerala High Court has held that Section 5 of the Limitation Act has no application to condone delay in filing a petition for setting aside an arbitral.....

Tags : Kerala High Court, Limitation Act, Condone, Delay, Arbitration

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RBI Keeps Repo Rate Unchanged at 6%(05.04.2018)

RBI has maintained status quo on the short-term lending rate, repo rate, at 6 per cent, in its first bi-monthly policy review of 2018-19. Reverse repo.....

Tags : RBI, Repo Rate

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Supreme Court: Arbitral Award on the Issue of Limitation is an ‘Interim Award’(24.01.2018)

Supreme Court has held that an award delivered by an arbitrator, which decides the issue of limitation, is an interim award, that can be challenged se.....

Tags : Supreme Court, Arbitration

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SC Junks PIL Against Arun Jaitley ‘Plundering’ RBI Reserves, Fines Lawyer Rs 50,000(07.12.2018)

The bench also directed the apex court registry not to allow ML Sharma to file any PIL till he deposits Rs 50,000.

Tags : Court, RBI

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Bom. HC: Commercial Court Can’t be Regarded as Person Or Institution Under Section 11(6) of A&C Act(06.09.2022)

Bombay High Court has held that the jurisdiction and power of the High Court in relation to the appointment of an arbitral tribunal under Section 11 o.....

Tags : Bombay High Court, Appointment, Arbitral Tribunal, Commercial Courts

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RBI Orders Large Co-Op Banks to Report Exposures Above Rs 5 Crore(28.12.2019)

Reserve Bank of India has directed large Co-operative Banks to report all exposures of Rs 5 Crore and more to the Central Repository of Information on.....

Tags : RBI, Exposures

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Supreme Court Upholds RBI Regulations for Export Ban on PPE Kits(07.12.2021)

Supreme Court has upheld the measures adopted by the Reserve Bank of India to implement the ban imposed by the Union Government on the export of Perso.....

Tags : Supreme Court, RBI Regulations for Export Ban on PPE Kits

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SC: Proceedings under Section 34 of Arbitration Act, 1996 not Sustainable Against Foreign Award(30.11.2020)

Supreme Court has noted that the proceedings under Section 34 of the Arbitration and Conciliation Act, 1996 is not maintainable to challenge a foreign.....

Tags : SC, Arbitration

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Jaitley Plays Down Rift With RBI, Says Highlighting Distresses of Economy Not Breach of Autonomy(18.01.2019)

As an autonomous institution, Jaitley respects the RBI for its autonomy. But, he maintains that during the consultation process one is entitled to fre.....

Tags : RBI

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RBI Cancels All T-Bill Auctions(25.02.2016)

Reserve Bank of India (RBI) has cancelled Treasury Bill (T-Bill) auction aggregating Rs 14,000 crore in full.

Tags : RBI, T-Bill

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Delhi HC to DMRC: Will Summon MD is Balance Arbitral Award Not Paid to DAMEPL Within 4 Weeks(08.09.2022)

Delhi High Court has directed Delhi Metro Rail Corporation (DMRC) to make balance payment in terms of a 2017 arbitral award to Delhi Airport Metro Exp.....

Tags : Delhi High Court, Arbitral Award, DMRC

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Shaktikanta Das, Centre's Face During Demonetisation, Appointed RBI Governor(12.12.2018)

The appointment comes almost 24 hours after Urjit Patel on Monday resigned as RBI Governor on account of personal reasons, with immediate effect.

Tags : RBI

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Delhi HC: Whether A Claim Is 'Notified Claim' Under Contract; Falls Outside the Scope Of Arbitration(14.10.2022)

Delhi High Court has observed that the dispute whether a claim raised by a party is a 'Notified Claim' under the Contract, which can be referred to ar.....

Tags : Delhi High Court, Notified Claim, arbitration

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Person Ineligible to be Arbitrator U/S. 12(5) of Arbitration Act can’t Appoint Another Arbitrator: SC(17.04.2019)

Supreme Court has held that the appointment of arbitrator by a person who himself is ineligible to be an arbitrator as per Section 12(5) of Arbitratio.....

Tags : Supreme Court, Ineligible to be Arbitrator, Arbitration Act

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All. HC: Scheme of A&C Act Put no Limitation for Application of Doctrine of Severability to an Award(25.09.2023)

Allahabad High Court has held that scheme of the Arbitration and Conciliation Act, 1996 does not put any limitation on power of the court to apply the.....

Tags : Allahabad High Court, Doctrine of Severability, Arbitral Award

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RBI Keeps Repo Rate Unchanged(07.02.2020)

Reserve Bank of India’s Monetary Policy Committee has kept the key policy rate unchanged while admitting that inflation was on a rising trajectory th.....

Tags : RBI, Repo Rate

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SC: Arbitration Clauses in Unstamped Agreements are Inadmissible but not Void(13.12.2023)

Supreme Court 7-judge bench while overruling the 5-judge bench judgment in N.N. Global Mercantile Pvt. Ltd. v. M/s. Indo Unique Flame Ltd. (MANU/SC/04.....

Tags : Supreme Court, Arbitration Clauses, Unstamped Agreements

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RBI: Pensioner's Account Not to Exceed More Than 14 Credit Transactions in a Year(22.01.2016)

Reserve Bank of India (RBI) has directed banks that a pensioner's account should not exceed more than 14 credit transactions in a calender year for re.....

Tags : RBI, Pensioner's Account

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Invoking CIRP Would Not Make Dispute Non-Arbitrable(19.12.2022)

Delhi High Court has held that dispute would not become non-arbitrable merely because the petitioner, before filing the application for appointment of.....

Tags : Delhi High Court, Arbitration, Insolvency, Non-Arbitrable

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Del HC: Can Refer to Arbitration Dispute Regarding Use of TM by Partner for His Sole Proprietorship(13.01.2023)

Delhi High Court while observing that disputes relating to subordinate rights in personam arising from rights in rem are arbitrable has held that disp.....

Tags : Delhi High Court, Arbitration, Trademark, Subordinate Rights

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How is Google's Payment App Operating Without Authorisation, Delhi High Court Asks RBI(12.04.2019)

The court issued notice to RBI and Google India seeking their stand on the issue raised in the plea by Abhijit Mishra, who has contended that GPay doe.....

Tags : Court, RBI, High Court

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Del HC: Party’s Agreement to Constitute Arb. Tribunal Precludes Them From Opposing Arbitrator’s App.(20.02.2024)

Delhi High Court has held that if once a party has agreed on constituting an arbitral tribunal then it is prohibited from subsequently opposing the ap.....

Tags : Delhi High Court, Arbitrator’s Appointment, Arbitral Tribunal

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Delhi HC: Arbitral Tribunal Cannot Recall the Order Terminating the Arbitral Proceedings(20.10.2022)

Delhi High Court has observed that once the arbitral tribunal terminates the arbitration proceedings on account of claimant withdrawing its claims, it.....

Tags : Delhi High Court, arbitral, termination

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Delhi HC: Exorbitant Price of Drug Not to Deprive Children Suffering from Rare Disease(18.01.2021)

Delhi High Court has held that merely because of the exorbitant price of a drug or treatment, children suffering from a rare disease cannot be deprive.....

Tags : Delhi High Court, Exorbitant Price of Drug

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MP HC: Commercial Matters Involving Arbitration Disputes Can Only Be Heard by Commercial Court(05.03.2021)

Madhya Pradesh High Court has held that Commercial matters involving Arbitration disputes can only be heard by Commercial Court of the status of Distr.....

Tags : Madhya Pradesh High Court, Commercial Matters Involving Arbitration Disputes

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DC Federal Judge Refuses To Confirm Arbitration Award To Hardy Oil & Gas(12.06.2018)

United State District Court for the District of Columbia has refused to confirm the arbitration award which would have resulted in Hardy Exploration &.....

Tags : Arbitration

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RBI announces Marginal Cost of Funds Methodology for Interest Rate on Advances(17.12.2015)

The Reserve Bank of India has released final g.....

Tags : Interest rates, marginal cost, rbi

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RBI Grants PMC Bank Customers to Withdraw upto Rs 10,000(27.09.2019)

Reserve Bank of India (RBI) has eased the restrictions on depositors of Punjab & Maharashtra Cooperative Bank (PMC Bank), two days after it put a Rs 1.....

Tags : RBI, PMC

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SC Issues Contempt Notices to RBI for Denying Info Under RTI on Loan Defaulters(28.01.2019)

Supreme Court has issued contempt notices to RBI for failing to reveal under the Right to Information Act intelligence received on loan defaulters and.....

Tags : Supreme Court, RBI

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ARBITRATION - Pre-Deposit Clauses to Invoke Arbitration Makes Arbitral Process Ineffective: SC(12.03.2019)

Supreme Court has observed that pre-deposit clauses to invoke arbitration would render the arbitral process ineffective and expensive, and also struck.....

Tags : Supreme Court, Arbitration, Pre-Deposit Clauses

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Scheme for Sustainable Structuring of Stressed Assets(13.06.2016)

The Reserve Bank of India formulated a scheme for resolution of large stressed accounts. The Scheme for Sustainable Structuring of Stressed Assets, or.....

Tags : rbi, stressed asset, resolution, sustainable, scheme

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Patna HC: Application u/s 34 Arbitration Act Challenging Arbitral Award is Not Suit(01.02.2022)

Patna High Court has held that an application filed under Section 34 of the Arbitration and Conciliation Act, 1996 challenging an arbitral award is no.....

Tags : Patna High Court, Application u/s 34 Arbitration Act

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Delhi HC: Initiation Of Proceedings Under SARFAESI Act Does Not Bar Arbitration Of Disputes(20.10.2022)

Delhi High Court has ruled that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, .....

Tags : Delhi High Court, arbitration, SARFAESI

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Delhi HC: Order Terminating Arbitration Proceedings Not an Award(15.01.2021)

Delhi High Court has ruled that an order terminating arbitration proceedings under Section 32(2)(c) of the Arbitration & Conciliation Act, 1996 is not.....

Tags : Delhi High Court, Order Terminating Arbitration Proceedings

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SC: Minimal Interference by Courts in Terms of Section 48 of Arbitration & Conciliation Act, 1996(14.02.2020)

Supreme Court has held that while considering grounds for setting aside a foreign award, Court must warrant minimal interference. The Court has emphas.....

Tags : Supreme Court, Interference by Courts, Arbitration

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DC Federal Judge Refuses To Confirm Arbitration Award To Hardy Oil & Gas(12.06.2018)

United State District Court for the District of Columbia has refused to confirm the arbitration award which would have resulted in Hardy Exploration &.....

Tags : Arbitration

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Kar. HC: Parties Can’t be Forced to Arbitration Proceed. if Not Signatory to Joint Venture Agreement(29.03.2024)

Karnataka High Court has held that if the parties are not signatories to the Joint Venture Agreement then the Court cannot direct them to be parties t.....

Tags : Karnataka High Court, Arbitration Proceedings, Joint Venture Agreement

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SC: Additional Evidence in Proceedings u/s 34 Arbitration Act Can be Adduced Only in Exceptional Case(24.09.2019)

Supreme Court has observed that proceedings under Section 34 of Arbitration and Conciliation Act will not ordinarily require anything beyond the recor.....

Tags : Supreme Court, Arbitration and Conciliation Act

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SC Issues Contempt Notices to RBI for Denying Info Under RTI on Loan Defaulters(28.01.2019)

Supreme Court has issued contempt notices to RBI for failing to reveal under the Right to Information Act intelligence received on loan defaulters and.....

Tags : Supreme Court, RBI

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Arbitration Amendment Act, SC Says: New S. 36 Apply Even To pending S. 34 Applications(16.03.2018)

SC has clarified that since execution of a decree pertains to the realm of procedure, and that there is no substantive vested right in a judgment debt.....

Tags : Supreme Court, Arbitration

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Changes proposed in timeframe for issue of shares and reporting of FDI(04.02.2016)

The Reserve Bank of India has proposed changes in respect of the time frame for issuing shares to align provisions of the Foreign Exchange Management .....

Tags : Rbi, timeframe, issue, reporting, shares, fdi

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Tel. HC: Arbitration Under Section 42 of SEZ Act Would Override Contractual Arbitration Clause(27.02.2023)

Telangana High Court has held that arbitration under Section 42 of the Special Economic Zones (SEZ) Act, 2005 would override a contractual arbitration.....

Tags : Telangana High Court, Special Economic Zones, Arbitration

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Delhi HC: Parties Can’t be Referred to Arbitration When Moratorium Issued by NCLAT(23.12.2022)

Delhi High Court has held that moratorium granted by NCLAT after resolution process is initiated against it is akin to an order of moratorium passed u.....

Tags : Delhi High Court, Moratorium, NCLAT, Arbitration, IBC

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Delhi HC: Challenge Against Action Taken by Secured Creditor Won’t Bar Arbitration Proceedings(23.11.2022)

Delhi High Court has held that even if a party intended to take action under Section 17 of SARFAESI Act by filing a petition before Debt Recovery Trib.....

Tags : Delhi High Court, Secured Creditor, Arbitration

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SC: Party Without Notice of Section 11(6) Petition Filed By Other Party Free to Appoint Arbitrator(06.01.2022)

Supreme Court has held that a party to the arbitration agreement can appoint an arbitrator even after an Arbitration Petition under Section 11(6) of t.....

Tags : Supreme Court, Appointment of Arbitrator

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Delhi HC: High Court Cannot Review Order Passed Under Section 11 of A&C Act(08.12.2022)

Delhi High Court has held that the High Court cannot review an order passed under Section 11 of the Arbitration and Conciliation Act, 1996 as the Act .....

Tags : Delhi High Court, Section 11, Arbitration

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SC: HC Should Be Extremely Circumspect in Interfering With Orders Passed Under Arbitration Act(09.04.2021)

Supreme Court has reiterated that a High Court while exercising jurisdiction under Article 226 and 227 of the Constitution of India, 1949 should be ex.....

Tags : Supreme Court, Interfering With Orders Passed Under Arbitration Act

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Kerala HC Warns Private Hospitals Against Charging Exorbitant Rates on COVID Treatment(11.05.2021)

Kerala High Court has cautioned hospitals to abide by the rates notified by the government in its order, giving strong warning to hospitals for overch.....

Tags : Kerala High Court, Exorbitant Rates on COVID Treatment

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Guidelines for Relief Measures by Banks in Areas Affected by Natural Calamities(21.08.2015)

The Reserve Bank of India released guidelines based on a Central government notification reducing the criteria of crop loss from 50 per cent to 33 per.....

Tags : Rbi, relief, farmers, loan, reschedule, crops

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SC: No Unusual Treatment to be Given to Govt While Considering Application for Stay of Arbitral Award(15.07.2019)

Supreme Court (SC) had held that there is no unusual treatment to be given to the Government while considering the application for stay under Section .....

Tags : SC, Arbitral Award

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SC: It is Up to the Arbitral Tribunal to Adjudicate Upon Construction of Terms of Contract(10.05.2024)

SC has held that it is for Arbitral Tribunal to adjudicate upon construction of terms of a contract. If Arbitral Tribunal takes a particular view on i.....

Tags : Supreme Court, Terms of Contract, Arbitral Tribunal, Section 34 of A&C Act

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Delhi HC: Challenge against Appointment of Arbitrator Can't Be Under Section 14 of the A&C Act(04.04.2022)

Delhi High Court has observed that Section 14 of the Arbitration and Conciliation Act, 1996 (A&C Act) does not provide a separate remedy to the partie.....

Tags : Delhi High Court, Section 14 of the Arbitration and Conciliation Act, 1996, appointment of an arbitrator

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RBI seeks Comments/Feedback on Report of the Working Group on the Implementation of Indian Accounting (20.10.2015)

Reserve Bank of India has released the Report of the Working Group on the Implementation of Indian Accounting Standards by Banks in India. The Report .....

Tags : Rbi, international reporting, accounting, india, standards, budget

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SC: Arbitral Tribunal Before 2015 Amendment Would Lose Mandate on Violation of Neutrality Clause(05.01.2022)

Supreme Court has held that an arbitral tribunal constituted as per an arbitration clause before the 2015 amendment to the Arbitration and Conciliatio.....

Tags : Supreme Court, Arbitral Tribunal Before 2015 Amendment , Violation of Neutrality Clause

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Madras HC: Arbitration Court Not to Embark on Fact-Finding Exercise Within S.34 A&C Act(01.03.2021)

Madras High Court has stated that the exercise undertaken to rewrite the arbitration award by ascribing reasons in support of the claims allowed and q.....

Tags : Madras High Court, Setting Aside of Arbitral Award

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Calcutta HC: Arbitral Award Holder’s Claim Would Extinguish on Approval of Resolution Plan(10.05.2021)

Calcutta High Court has stated that an arbitral award-holder's claim would stand extinguished upon the approval of a Resolution Plan for the award-deb.....

Tags : Calcutta High Court, Arbitral Award Holder’s Claim

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Bombay High Court: Arbitrators Must List No of Cases They Have(30.05.2019)

Bombay High Court has observed that companies or their advocates often appoint the same advocate in hundreds, even thousands of disputes as their arbi.....

Tags : Bombay High Court, Arbitrators

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SC: Arbitrator Can Award Pendente Lite Interest if Not Barred Under Contract(20.03.2023)

Supreme Court has held that unless there is a specific bar under the contract, Arbitrator can award pendente lite interest in view of Section 31(7)(a).....

Tags : Supreme Court, Pendente Lite, Arbitrator, Contract

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SC: Department Officer Can Continue to Preside Over Arbitration Proceedings After Retirement(27.09.2021)

Supreme Court has held that a department officer, who was appointed as the arbitrator, can continue to preside over the arbitration proceedings even a.....

Tags : Supreme Court, Retired Arbitrator

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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Delhi HC: Can Refer to Arbitration a Dispute Under ‘Non-Binding Term Sheet’(23.12.2022)

Delhi High Court has held that dispute between parties under an agreement titled as "Non-Binding Term Sheet" can be referred to arbitration, as the ar.....

Tags : Delhi High Court, Arbitration, Non-Binding Term Sheet

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Kerala HC: Writ Jurisdiction Cannot be Invoked to Challenge Appointment of Arbitrator(12.01.2022)

Kerala High Court has held that writ jurisdiction cannot be invoked to challenge the appointment of an arbitrator since such grievances could be redre.....

Tags : Kerala High Court, Appointment of Arbitrator

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SC: Court While Considering Application for Appointment of Arbitrator Can’t Go into Merits of Claim(25.11.2022)

Supreme Court has held that while considering an application seeking appointment of arbitration, the Court cannot go into question of novation of cont.....

Tags : Supreme Court, Novation, Arbitrator

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Delhi HC: Issue as to Which Party Would Bear GST Expenses Under Agreement is Arbitrable(08.12.2022)

Delhi High Court has held that an issue that relates to the inter se liability of the parties regarding the burden of GST is not related to the taxing.....

Tags : Delhi High Court, GST Expenses, Arbitrable

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Bombay HC Seeks RBI Opinion over Plea to Change Notes and Coins for Blind(04.10.2016)

Bombay HC has asked Reserve Bank of India (RBI) to file reply within four weeks in response to Public Interest Litigation (PIL) highlighting difficult.....

Tags : Bombay HC, RBI, Blind

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MP HC: Can’t Object to Jurisdiction After Participating in Arbitral Proceedings Without Protest(14.12.2022)

Madhya Pradesh High Court has held that a party which has participated in the arbitration proceedings without any protest or challenge as to the juris.....

Tags : Madhya Pradesh High Court, Arbitral Proceedings, Jurisdiction, Protest

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Lok Sabha Passes New Delhi International Arbitration Centre Bill, 2019(11.07.2019)

Lok Sabha has passed the New Delhi International Arbitration Centre Bill, 2019. The Bill, which replaces an Ordinance promulgated in March this year, .....

Tags : Lok Sabha, New Delhi International Arbitration Centre Bill, 2019

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Bombay High Court: Local Law to Apply When Indian Entities are Party to Arbitration(25.08.2015)

Bombay High Court has ruled that two Indian parties should not put the clauses of foreign law in arbitration, as it is against public policy.

Tags : Bombay High Court ,Arbitration

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Del HC: Delay in Approaching Authority for Constitution of Tribunal Won’t Render Claims Time Barred(10.02.2023)

Delhi High Court has held that period within which party is required to approach court for constitution of arbitral tribunal, can’t be conflated with .....

Tags : Delhi High Court, Limitation, Claims, Arbitral Tribunal

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All. HC: Juris. While Dealing With S.34 App. Can’t be Disputed by Party Filing S.9 App. in One Court(22.05.2024)

All. HC has held that if a party has filed an application under Section 9 of A&C Act, 1996 before one court then objection regarding territorial juris.....

Tags : Allahabad High Court, Territorial Jurisdiction, Arbitration Agreement

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Reserve Bank of India releases draft direction on the prudential framework applicable to financing of project loans(03.05.2024)

With a view to strengthen the extant regulatory framework governing project finance and to harmonise the instructions across all regulated entities, R.....

Tags : RBI, Net Present Value, NPV

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Del. HC: Copy of Arbitration Award Must Be Given Only to The Parties And Not Their Agents/Advocates(20.02.2024)

Delhi High Court has held that the term party under the Arbitration and Conciliation Act refers only to the parties themselves and not their advocates.....

Tags : Delhi High Court, Arbitration and Conciliation Act, Arbitration Award

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Arbitral Tribunal Holds Zo Rooms Entitled to 7% Shareholding in $9 Billion Valued-Oyo(09.03.2021)

Arbitral Tribunal, in a tussle between Oravel Stays Pvt Ltd (Oyo) and start-up Zostel Hospitality Pvt Ltd (Zostel), has held that Zo Rooms is entitled.....

Tags : Arbitral Tribunal, Oyo-Zostel Arbitration

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Averments set up by applicants are expected to be specifically denied by replying party, if there is no specific denial, then such an averment is deemed to have been admitted by the otherside(04.06.2018)

The Applicants have filed instant applications before present Court for the appointment of a sole Arbitrator under Section 11(6) of the J & K Arbitrat.....

Tags : Dispute, Settlement, Arbitrator, Appointment

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Mere vague averment bereft of material particulars cannot satisfy requirement of pleading mala fide or favoritism(27.07.2018)

Present writ appeal is filed against the order passed by the Writ Court. The Appellants herein are the Respondents before the Writ Court. The Responde.....

Tags : Tender notification, Clause, Arbitrariness

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RBI Announces Safeguards for Funds Raised via TLTRO Mechanism(16.04.2020)

Reserve Bank of India (RBI) has set a threshold on the deployment of funds raised by a bank through the Targeted Long Term Repo Operations (TLTRO) at .....

Tags : RBI, Safeguard for Funds

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Del HC Issues Directions to Centre and State Payment of Unpaid Dues to Reliance Infra(18.03.2023)

Delhi High Court has directed Centre and State to attend to DMRC’s request for extension of sovereign guarantee or subordinate debt to enable it make .....

Tags : Delhi High Court, DMRC, Reliance Infra, Arbitral Award

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RBI Guidelines on Banking Regulation Act Stresses on Timeline for CAP in Joint Lenders Forum(10.05.2017)

RBI has issued directions u/s 35AB of Banking Regulation Act, 1949 stressing on timelines to be followed while finalizing a Corrective Action Plan (“C.....

Tags : RBI, Banking Regulation Act, 1949

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Delhi HC: Challenge Relating to Bias of an Arbitrator Can’t be Raised U/S 14 of A&C Act(12.12.2022)

Delhi High Court has held that a challenge to the mandate of arbitrator on the ground of bias and a justifiable doubt with respect to the independence.....

Tags : Delhi High Court, Arbitrator, Bias

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RBI Releases Fourth Bi-Monthly Monetary Policy Statement, 2016-17(05.10.2016)

Reserve Bank of India (RBI) has released Fourth Bi-monthly Monetary Policy Statement, 2016-17 and cut down Repo Rate by 25 Bps to 6.25%.

Tags : RBI, Monetary Policy

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Karnataka HC: Challenge to Award in International Commercial Arbitration Can be Made Before HC(25.02.2022)

Karnataka High Court has ordered that in view of Section 2(e)(ii) of the Arbitration and Conciliation Act, 1996 a challenge to an award in an Internat.....

Tags : Karnataka High Court, Challenge to Award, International Commercial Arbitration

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Del. HC: Arbitrator Can Declare Terms of Contract Null Even if Not Sought by Party in Pleadings(15.03.2023)

Delhi High Court while observing that it is within the domain of the Arbitrator to interpret the terms of the contract has held that arbitrator can de.....

Tags : Delhi High Court, Arbitrator, Contract, Pleadings

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AP HC: App. u/s 11(6) Can Only be Maintained if Parties Fail to Refer Dispute to Arbi. Even After Not(15.05.2024)

AP HC has held that, for maintaining an application under Section 11(6) of the Arbitration and Conciliation Act, 1996 it is required to be shown that .....

Tags : Andhra Pradesh High Court, S. 11(6) of A&C Act, Arbitrator

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'It's the Last Opportunity': SC Orders RBI to Disclose Annual Inspection Reports of Banks Under RTI(26.04.2019)

Warning that any future violation of RTI would be viewed “seriously”, the court asked RBI to review its policy on disclosure of information under .....

Tags : Court, SC, RBI

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Delhi HC Seeks Centre's Response on Petition for Inclusion of Severe Mental Illness as Comorbidity(16.03.2021)

Delhi High Court has sought the Centre's response on a petition seeking directions for the inclusion of mental illnesses in the classification of como.....

Tags : Delhi High Court, Inclusion of Severe Mental Illness as Comorbidity

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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SC: Jurisdiction of High Court Hearing An Arbitration Appeal Is Distinct from First Appellate Court(16.11.2021)

Supreme Court has observed that the jurisdiction in a first appeal arising out of a decree in a civil suit is distinct from the jurisdiction of the Hi.....

Tags : Supreme Court, Jurisdiction of High Court Hearing An Arbitration Appeal

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Modi Govt Declines RTI Query Asking for Details of Shaktikanta Das’ Appointment as RBI Governor(27.03.2019)

Shaktikanta Das was in December named as the Reserve Bank of India Governor by the Appointments Committee of the Cabinet headed by PM Narendra Modi. .....

Tags : RBI

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RBI Grants Approval for First Conversion from Urban Cooperative Bank to Small Finance Bank(07.01.2020)

Reserve Bank of India has granted ‘in-principle’ approval to Saharanpur-based, Shivalik Mercantile Cooperative Bank to convert from an Urban Cooperat.....

Tags : RBI, Small Finance Bank

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Supreme Court Quashes Tough Reserve Bank Circular on Resolving Bad Debt(02.04.2019)

Several companies, especially power firms, had sought intervention of the Supreme Court saying the time given by the RBI was not enough time to tackle.....

Tags : Court, RBI, Supreme Court

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PAN Mandatory for Sending Money Abroad: Government(08.06.2018)

Central Government has decided to make Permanent Account Number (PAN) mandatory for remitting money abroad as the Reserve Bank of India has decided to.....

Tags : RBI, PAN Card

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RBI Issues Norms to Shore Up Governance Standards at Urban Cooperative Banks(02.01.2020)

Reserve Bank of India has released the final guidelines for setting up a board of management for such banks. According to the guidelines, UCBs, with d.....

Tags : RBI, Urban Cooperative Banks

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Supreme Court Declares S.4(3)(b) of BPWC Arbitration Tribunal Act Unconstitutional(29.03.2018)

Supreme Court, while holding S. 4(3)(b) of Bihar Public Works Contracts Arbitration Tribunal Act, 2008, unconstitutional, has observed that a provisio.....

Tags : Supreme Court, Arbitration

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Delhi High Court Says No to Defenses Under FEMA For Enforcement of Foreign Arbitral Awards(17.04.2017)

Delhi High Court has held that foreign arbitral award can be enforced in India pertaining to put options, exit at assured return, and guarantee arrang.....

Tags : Delhi High Court, Foreign Arbitral Awards

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RBI Master Direction Risk Management and Inter-Bank Dealings(05.07.2016)

The Reserve Bank of India introduced Master Directions effecting change in the way banks manage risk for national and international borrowers.

.....

Tags : rbi, loan facilities, foreign exchange, risk management

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With GDP Size Increasing, There May Be Need For More Currency in System: RBI Official(17.01.2019)

Following demonetisation in November 2016, when the government junked high value currency notes of denominations 500 and 1,000, there was a shrinkage .....

Tags : RBI

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Apex Court: Delay of More than 120 Days in Filing Arbitration Appeal not Liable to be Condoned(16.12.2019)

Apex Court has observed that a delay of more than 120 days in filing appeal under Section 37 of the Arbitration and Conciliation Act, 1996 is not liab.....

Tags : Apex Court, Arbitration

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Kar. HC: Existence of Arbitration Agreement Can be Presumed if No Denial is Made in Reply(06.09.2022)

Karnataka High Court has held that arbitration agreement is said to exist if the petitioner has asserted its existence in its notice of arbitration an.....

Tags : Karnataka High Court, Arbitration Agreement, Notice

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After Urjit Patel's Surprise Resignation, RBI Denies Reports of No.2 Viral Acharya Stepping Down(11.12.2018)

On October 26, Acharya spoke about the need to preserve the autonomy of the RBI.

Tags : RBI

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Contract must explicitly bar pendente lite interest to prevent arbitral award(16.03.2016)

An Arbitrator cannot award interest pendente lite if the same is barred expressly by contract. The Supreme Court distinguished an explicit contractual.....

Tags : Arbitration, interest, award, pendente lite

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Arbitral process could be interfered under Article 226/227 of the Constitution by the High Court only in exceptional circumstances(06.01.2021)

In facts of present case, on 13th February, 1991, Respondent No. 1 entered into a contract with the Appellant to manufacture and supply bricks. The af.....

Tags : Arbitral process, Discretionary power, Jurisdiction

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RBI Changes Methodology for Bond Valuation to Check Manipulation(31.03.2018)

Reserve Bank of India has changed the methodology used by debt market players, including banks and primary dealers, for valuation of securities, espec.....

Tags : RBI, Bonds

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RBI Launches 'MANI' App for Visually Challenged to Identify Currency Notes(02.01.2020)

Reserve Bank of India has launched a mobile app to identify currency notes. The visually challenged can identify the denomination of a note by using t.....

Tags : RBI, MANI App

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Del. HC: Objections U/S 47 CPC Can’t Be Considered In Enforcement Petition U/S 36 A&C Act(27.01.2023)

Delhi High Court has ruled that objections available under Section 47 of Code of Civil Procedure, 1908 cannot be considered by a Court at the time of .....

Tags : Delhi High Court, arbitration

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Court can Appoint Arbitrator Only After Resorting to Procedure in Arbitration Agreement: SC(01.04.2019)

Supreme Court has observed that High Court, while dealing with an application under Section 11(6) of Arbitration and Conciliation Act, seeking appoint.....

Tags : Supreme Court, Appointment of Arbitrators

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Reporting of Bank Guarantee on behalf of service importers discontinued(07.07.2016)

The Reserve Bank of India announced the discontinuation of submission of reports on guarantees issued by banks in favour of non-residents service prov.....

Tags : rbi, bank guarantee, service importer, reporting requirement

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SC: Indian Parties Can Choose a Foreign Seat for Arbitration(22.04.2021)

Supreme Court has held that parties to a contract who are Indian nationals or Companies incorporated in India can choose a forum for arbitration outsi.....

Tags : Supreme Court, Foreign Seat of Arbitration

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Foreign Direct Investment - Reporting under FDI Scheme on the e-Biz platform(21.08.2015)

The Reserve Bank of India enabled online filing of the 'Foreign Currency Transfer of Shares' returns for reporting transfer of shares, convertible deb.....

Tags : Rbi, fema, return, online filing, return

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Cal HC: All Unilateral Appointments Not Invalid Unless Appointed Arbitrator Falls Within Schedule 7(15.02.2023)

Calcutta High Court has held that all unilateral appointment of arbitrator are not invalid per se unless the arbitrator’s relationship falls within th.....

Tags : Calcutta High Court, Unilateral Appointments, Seventh Schedule, Arbitration

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Delhi HC: Can’t Resort to S. 34(4) of A&C Act for Considering New Material Evidence(28.03.2023)

Delhi High Court has held that recourse to Section 34(4) of Arbitration and Conciliation (A&C) Act cannot be taken to permit the arbitral tribunal to .....

Tags : Delhi High Court, Arbitration, Material Evidence

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RBI Permits Banks to Classify Borrowed Securities as SLR(14.10.2016)

Reserve Bank of India (RBI) has allowed banks to classify government securities borrowed from central bank in the daily Liquidity Adjustment Facility .....

Tags : RBI, SLR

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Cal HC: Agreement’s Certified Copy Attested by Notary Enough to Meet Condition of S. 8(2) of A&C Act(04.04.2024)

Calcutta High Court has held that in order to entertain an application under Section 8(2) of the Arbitration and Conciliation Act, 1996 it would be su.....

Tags : Calcutta High Court, Certified Copy, Original Arbitration Agreement, Notary

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SC to Centre, RBI: File Response to Plea on Panama Papers(26.07.2016)

SC has asked Centre and RBI to file their response in four weeks to a plea seeking CBI probe against Indian offshore bank account holders named in the.....

Tags : SC, Centre, RBI, Panama papers

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Allahabad HC Extends 12 Months Period for Disposal of Arbitral Proceedings(06.04.2020)

Allahabad High Court has extended the 12 months period stipulated under Section 29A of the Arbitration & Conciliation Act, 1996, for the Arbitral Trib.....

Tags : Allahabad High Court, Disposal of Arbitral Proceedings

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RBI to Waive All Charges on Fund Transfers via RTGS and NEFT from July 1(12.06.2019)

Following up on the announcement of June 6 after the bi-monthly monetary policy review, the RBI said it has reviewed the various charges levied by it .....

Tags : RBI

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Monetary Policy: RBI Keeps Key Policy Rates Unchanged(07.06.2016)

RBI has kept key interest rate (repo rate) unchanged at five-year low of 6.50% in its bi-monthly policy review. Consequently, the reverse repo rate wi.....

Tags : RBI Monetary Policy

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Madras HC: Writ Petition is Not Maintainable to Enforce Arbitral Award(18.04.2022)

Madras High Court has observed that a writ petition cannot be filed to enforce an arbitral award when an alternative remedy is available under section.....

Tags : Madras High Court, arbitral award, section 36 of the Arbitration and Conciliation Act, 1996

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Calcutta High Court: Intention to Arbitrate Must be Clearly Stated by Parties Within Agreement(23.01.2024)

Calcutta High Court has held that parties to an arbitration agreement should clearly state their intentions to arbitrate and should abstain from using.....

Tags : Calcutta High Court, Intention to Arbitrate, Agreement

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RBI Committee suggests Way Forward for UCBs(20.08.2015)

The Reserve Bank of India released the 'Report of the High Powered Committee on Urban Co-operative Banks'. Recommendations in the Report focus on busi.....

Tags : Rbi, urban co-operative, bank, report

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After Low Turnout at Previous Lectures, CVC Makes Attendance Compulsory for RBI Governor's Talk(19.09.2018)

The lecture is part of a monthly series, initiated after K V Chowdary took over as the Central Vigilance Commissioner in June, 2015.

Tags : RBI

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Del. HC: Participation in Civil Suit Filed by Partner, Not Waiver of Right to Invoke Arbitration(17.03.2023)

Delhi High Court has observed that participation of a party in a civil suit instituted by a partner, would not debar the party from initiating indepen.....

Tags : Delhi High Court, Arbitration, Partner

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SC: Writ Jurisdiction Can be Applied When Contractual Terms Imposed by State are Arbitrary(09.02.2023)

Supreme Court while invalidating GAIL's Condition imposed on IPCL, has held that if the State in its contractual dealings fails to exercise a degree o.....

Tags : Supreme Court, Writ Jurisdiction, Contractual Terms, Arbitrary

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Del. HC Quashes Order Upholding Arbitral Award Directing SpiceJet to Pay ?270 Cr. to Kalanithi Maran(22.05.2024)

Delhi High Court has set aside an order that upheld an arbitral award, directing SpiceJet and its chairman, Ajay Singh to pay an amount of ? 270 Crore.....

Tags : Delhi High Court, Arbitral Award, SpiceJet

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Lok Sabha Passes Arbitration & Conciliation (Amendment) Bill, 2021(15.02.2021)

Lok Sabha has passed the Arbitration and Conciliation (Amendment) Bill, 2021 by voice vote. The Bill seeks to amend the Arbitration and Conciliation A.....

Tags : Lok Sabha, Arbitration & Conciliation (Amendment) Bill, 2021

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Nepal Asks RBI to Declare Banned New Indian Currency Notes Legal(06.01.2019)

The Nepal Rastra Bank (NRB) has written a letter on Friday to the Reserve Bank of India (RBI), asking it to make Indian bank bills Rs 200, Rs 500 and .....

Tags : RBI

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Arbitrator has power to recall his earlier order of termination of proceedings if sufficient cause is shown by claimant(30.12.2017)

By present petition, the Petitioners have prayed for condonation of delay, in filing petition and prays that, the Procedural Order Sheets passed by th.....

Tags : Arbitral proceedings, Termination, Validity

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RBI’s first monetary policy statement in 2016(05.04.2016)

The Reserve Bank of India reduced its rate under the liquidity adjustment facility to 6.5 per cent and the cash reserve ratio to 90 per cent – a massi.....

Tags : Rbi, interest rates, liquidity

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RBI releases results of Consumer Confidence and Inflation Expectations Surveys(03.02.2016)

The Reserve Bank of India released the results of its read»

Supreme Court: Court Can't Relegate Parties Before Arbitral Tribunal After Setting Aside Award(24.04.2017)

Supreme Court has held that Section 34 (4) of Arbitration and Conciliation Act 1996, does not empower Court to relegate parties before Arbitral Tribun.....

Tags : Supreme Court, Arbitral Tribunal

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RBI seeks Comments on Working Group Report on introducing Interest Rate Options(08.02.2016)

The Reserve Bank of India released its Re.....

Tags : Rbi, interest rate options, report

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Supreme Court Refuses to Apply 'Group Of Companies' to Implead Foreign Company in Arbitration(03.07.2019)

Supreme Court has declined to invoke the group of companies doctrine to implead a foreign company in an application for appointment of arbitrator for .....

Tags : Supreme Court, Arbitration

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Telangana HC: Delay of 435 Days in Filing Appeal is Too Long to Exercise Discretion(27.06.2022)

Telangana High Court while dismissing an appeal filed after a long delay of 435 days, has held that having regards to the object of the Arbitration an.....

Tags : Telangana High Court, Arbitration and Conciliation Act, Delay

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Lok Sabha Passes Arbitration and Conciliation (Amendment) Bill, 2019(02.08.2019)

Lok Sabha has passed the Arbitration and Conciliation (Amendment) Bill, 2019. The Bill aims at making India an international arbitration hub by provid.....

Tags : Lok Sabha, Arbitration and Conciliation (Amendment) Bill, 2019

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RBI rationalises FEMA Regulations(04.02.2016)

The Reserve Bank of India revised nine regulations issued under the Foreign Exchange Management Act, 1999. For easy identification, revised regulation.....

Tags : Rbi, fema, regulations, revised

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PM Modi Never Said Demonetisation Was About Black Money, Claims Union Minister(31.08.2018)

Shukla’s bizarre statement comes just a day after RBI data showed that 99.3% of demonetised notes were returned to banks, sparking a political war-o.....

Tags : RBI

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HP HC: Person Ineligible to Act as Arbitrator Can’t Appoint Another Arbitrator for Deciding Dispute(01.03.2023)

Himachal Pradesh High Court has held that any appointment of other person as arbitrator by person who is himself ineligible to act as an Arbitrator fo.....

Tags : Himachal Pradesh High Court, Arbitrator, Dispute

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Allahabad HC: In Execution Proceedings, Challenge Cannot be Made to Arbitral Award u/s 47 of CPC(18.04.2024)

All. HC has held that in execution proceedings under Section 36 of Arbitration and Conciliation Act, 1996, questions to be decided are limited to matt.....

Tags : Allahabad High Court, Execution Proceedings, Arbitral Award, Section 47

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Delhi HC Asks to Seek Instructions on Plea Against Alleged Exorbitant Pricing of Covid-19 Vaccine(17.08.2021)

Delhi High Court has asked the Central Government counsel to seek instructions on a PIL seeking reduction in the price of COVID-19 vaccines in India.

Tags : Delhi High Court, Exorbitant Pricing of Covid-19 Vaccine

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Supreme Court Explains Venue of Arbitration Along With Jurisdiction of High Court(26.07.2019)

Supreme Court has noted that when a place is agreed upon by the parties as the 'venue' of Arbitration, only the High Court having jurisdiction over th.....

Tags : Supreme Court, Arbitration

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IOB Q4 Loss Widens to Rs 3,606.73 Crore on Rising Bad Loans(30.05.2018)

The loss was mainly due to provisioning requirements including higher provisions on account of RBI guidelines on revised framework on Resolution of St.....

Tags : RBI

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Application to regularize assets held abroad to be sent to RBI(10.02.2016)

The Reserve Bank of India notified consideration of applications at its Central Office in Mumbai seeking regularisation of assets held abroad by a per.....

Tags : Rbi, foreign asset, black money, regularisation

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Bombay HC: NCLAT Has No Jurisdiction Over Petition Under Arbitration Act(14.04.2021)

Bombay High Court has held that the National Company Law Appellate Tribunal has absolutely no jurisdiction over it in a petition under the Arbitration.....

Tags : Bombay High Court, National Company law Appellate Tribunal, Jurisdiction Over Petition Under Arbitration Act

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Chhattisgarh HC: Arbitral Award Vitiated by Serious Fraud And Criminal Conspiracy Can be Set Aside(01.07.2022)

Chhattisgarh High Court has held that an arbitral award that is vitiated by fraud and criminal conspiracy would be void and can be set aside, and the .....

Tags : Chhattisgarh High Court, Arbitral Award, Alternative Remedy

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RBI Imposes Rs 50 Lakh fine on PNB for Delay in Reporting Fraud in Kingfisher Airlines Account(03.08.2019)

Punjab National Bank in a regulatory filing said that the RBI took the decision based on a fraud monitoring report-1 that had been submitted by the ba.....

Tags : RBI

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COMPANY - Arbitration Tribunal Dismisses Punj Lloyd’s Claim Against ONGC(15.03.2019)

An arbitration tribunal has rejected a Rs. 1,320 crores claim filed by engineering, procurement and construction (EPC) contractor Punj Lloyd against O.....

Tags : Arbitration Tribunal, Punj Lloyd, ONGC

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Bombay HC Rejects PIL against Ban on Clicking Pictures of RBI HQ(28.06.2016)

Bombay HC has rejected a public interest litigation which said Reserve Bank of India cannot prohibit the general public from taking pictures of its He.....

Tags : Bombay HC, RBI HQ

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RTGS service charges for members and customers rationalised(04.02.2016)

The Reserve Bank of India has revised the fee structure for members and rationalised the charges levied on them. Transactions being received by member.....

Tags : Rbi, rtgs, charges, revised

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'No Need for Knee-Jerk Reaction': Arun Jaitley Blames 'Global Reasons' for Rupee's Steep Fall(06.09.2018)

The rupee's unabated fall continued for the sixth day on Wednesday as it hit yet another closing low of 71.75 against the US dollar, forcing the RBI t.....

Tags : RBI

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Cal. HC: To Prevent Arbitral Awards from Becoming Meaningless They Should be Made Real(19.04.2024)

Calcutta High Court while hearing an application under Section 9 of the Arbitration and Conciliation Act, 1996, has held that serious attempts must be.....

Tags : Calcutta High Court, S.9 of A&C Act, Arbitral Awards

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Kerala HC: Neither Party Nor Person Nominated by It Can be Arbitrator(20.08.2021)

Kerala High Court has held that neither a party to an Arbitration Agreement nor a person nominated by it can be nominated an arbitrator, even if the a.....

Tags : Kerala High Court, Arbitrator

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Delhi HC: Membership of Arbitral Institution Not a Pre-Requisite For Invoking Arbitration(26.03.2024)

Delhi High Court has held that the membership of an arbitral institution cannot be insisted upon as a pre-requisite for invoking arbitration.

Tags : Delhi High Court, arbitral institution

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RBI announces Regulatory Relaxations for Startups(02.02.2016)

The Reserve Bank of India has highlighted steps taken to promote the ease of doing business and creating conditions conducive for growth of start-ups......

Tags : Start-up, rbi, ease of doing business

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Guj. HC Directs Compensation of Rs. 10 Lakh Each to Kin of Deceased in Morbi Bridge Collapse Tragedy(23.02.2023)

Gujarat High Court has directed M/s Ajanta to pay Rs. 10 lakh each to the next of kin of the deceased/victims, and Rs. 2 lakh each to the injured as i.....

Tags : Gujarat High Court, Morbi Bridge Collapse, Compensation

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Summary of the Electronic Consultation with the Technical Advisory Committee on Monetary Policy: July 2015(25.08.2015)

A consultation with external Members of the Technical Advisory Committee on Monetary Policy was held electronically between 22 and 28 July, 2015. Taki.....

Tags : Rbi, technical advisory, committee, monetary policy

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SC: DMRC’s Petition Allowed, Judgement Upholding Arbitral Award In Favour of DAMEPL Set Aside(10.04.2024)

Supreme Court has set aside the judgement that upheld the arbitral award made in favour of Delhi Airport Metro Express Private Limited (DAMEPL) and re.....

Tags : Supreme Court, DAMEPL, DMRC, Arbitral Award

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Delhi HC: Non-Signatory Confirming Party to Arbitration Clause, Can Invoke Arbitration(13.10.2022)

Delhi High Court has held that a confirming party to a Contract, who is not bound by the terms of the Contract and on whom no liability is affixed und.....

Tags : Delhi High Court, Confirming Party, Arbitration Clause

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Mandate of "Ineligible" Arbitrator u/s 12(5) of Arbitration Act terminates automatically: SC(17.04.2019)

Supreme Court held that ineligibility of a person barred from appointment as an arbitrator under Section 12(5) of the Arbitration and Conciliation Act.....

Tags : Supreme Court, Ineligible Arbitrator, Arbitration Act

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SC: Power of High Courts to Interfere with Arbitration Should be Used Rarely(07.01.2021)

Supreme Court has observed that the power of the High Courts under Article 226/227 of the Constitution of India, 1949 to interfere with an arbitration.....

Tags : Supreme Court, Interference in Arbitration Process

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Supreme Court: Limitation u/s 34 of Arbitration Act Begins From Date of Delivery of Award Copy(30.03.2018)

Supreme Court has reiterated that the limitation period prescribed under Section 34(3) of the Arbitration and Conciliation Act would commence only fro.....

Tags : Supreme Court, Arbitration

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RBI Extends Availability of Relaxed Terms for Securitisation Transactions by NBFCs to June 30, 2020(02.01.2020)

Reserve Bank of India has extended the availability of relaxed terms for securitisation transactions or sale of assets by non-bank lenders to banks to.....

Tags : RBI, Securitisation Transactions

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Top Stories You May Have Missed if You Were Following the Assembly Election Results(12.12.2018)

Sensex plummeted by almost 550 points early this morning. Experts blame the plunge on the assembly election results that saw the BJP lose in all five .....

Tags : RBI

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Bombay HC: Arbitral Tribunal Can’t Appoint HC Receiver as ‘Receiver Under Arbitration Act’(23.03.2017)

Bombay High Court has held that an arbitral tribunal does not have power to appoint Court receiver of High Court as a receiver under Section 17 of Arb.....

Tags : Bombay HC, Arbitral Tribunal

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Delhi HC: Limitation Period for Arbitration Dispute Commences After Pre-Arbitration Mechanism fails(17.10.2022)

Delhi High Court has ruled that the period of limitation for referring the dispute to arbitration would only commence after the internal dispute resol.....

Tags : Delhi High Court, limitation, arbitration, dispute resolution

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Supreme Court: Courts Cannot Review Technical Bids to Bag Contracts for Public Work(31.03.2018)

Supreme Court has barred Courts from evaluating technical bids submitted by companies to bag contracts for public works.

Tags : RBI, Bonds

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RBI Issues Security Guidelines for Third Party ATM Switch Application Service Providers(06.01.2020)

Reserve Bank of India has issued the Cyber Security Controls Guidelines for Third-party ATM Switch Application Service Providers. RBI Regulated Entiti.....

Tags : RBI, ATM

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Willful Defaulter under RBI Act can’t be represented through Advocate/CA: Madhya Pradesh HC(02.04.2019)

Madhya Pradesh High Court has held that a ‘willful defaulter’ under Reserve Bank of India (RBI) Act cannot be represented through the lawyers or Chart.....

Tags : Madhya Pradesh High Court, Willful Defaulter, RBI Act

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Madras HC: Non - Signatory Can Be Referred To Arbitration Under ‘Doctrine Of Alter Ego’(27.01.2023)

Madras High Court has held that non-signatories to arbitration agreement can be referred to arbitration by invoking the ‘doctrine of alter ego’ only i.....

Tags : Madras High Court, arbitration, alter ego

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Delhi HC: Arbitrator Can’t Set Aside Sale Notice Issued by Secured Creditor Under SARFAESI Act(23.02.2023)

Delhi High Court has held that matter of a sale notice issued by secured creditor under Section 13(4) of SARFAESI Act is not arbitrable at all, and th.....

Tags : Delhi High Court, SARFAESI, Sale Notice, Arbitrator

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RBI Limits Consumer Liability In Cases Of Online Fraud(13.07.2017)

RBI has mandated Banks to urge their customers to mandatorily register for SMS alerts, and, wherever available, to register for e-mail alerts, for ele.....

Tags : RBI, Online Fraud

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Delhi High Court: Not Compulsory to Use the Word ‘Seat’ in an Arbitration Clause(11.04.2024)

Delhi High Court has held that to determine the jurisdiction of the Court having jurisdiction over the proceedings arising out of the arbitration agre.....

Tags : Delhi High Court, Arbitration Clause, Arbitration Agreement

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Bombay High Court to RBI: State in 2 Weeks why you Keep Changing Features of Notes and Coins(23.08.2019)

Bombay High Court has lambasted the Reserve Bank of India (RBI) for not responding to the question why it frequently changed the size of currency note.....

Tags : Bombay High Court, RBI

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Stamp Duty Not Necessary For Enforcement Of Foreign Arbitration Awards In India: Supreme Court(14.09.2018)

Supreme Court has held that payment of stamp duty under the Indian Stamp Act is not necessary for the enforcement of foreign arbitration awards in Ind.....

Tags : Supreme Court, Stamp Duty, Arbitration

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Del. HC: Mandate of Arbitral Tribunal Can be Extended by Court, Even After its Expiry(24.06.2024)

Delhi High Court has held that the court is fully empowered to extend the mandate, even after the expiry of the mandate of the tribunal under Section .....

Tags : Delhi High Court, Arbitral Tribunal, S. 29A(4) of A&C Act

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Del. HC: Objections U/S 47 CPC Can’t Be Considered In Enforcement Petition U/S 36 A&C Act(27.01.2023)

Delhi High Court has ruled that objections available under Section 47 of Code of Civil Procedure, 1908 cannot be considered by a Court at the time of .....

Tags : Delhi High Court, arbitration

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Minimum Income Scheme Can be Realised by Cutting Other Doles, Says Former RBI Governor(29.03.2019)

In a big bang election promise, the Congress earlier this week announced that 20% families belonging to the poorest category will be given Rs 72,000 e.....

Tags : RBI

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Court refutes arguments transposing arbitration clause from pricing clause(01.07.2016)

An arbitration clause can be incorporated in a contract where reference to the same is made as part of the contract, the Madras High Court reiterated......

Tags : arbitration, clause, incorporation, contract

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Gujarat High Court Sets Aside Order Which Interfered With Reasoned Arbitration Award(17.06.2024)

Guj. HC while setting aside the order passed by District Judge interfering with arbitral award has held that arbitral awards providing reasoned interp.....

Tags : Gujarat High Court, Section 34, Arbitration and Conciliation Act

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RBI launches FCTRS module on e-Biz Platform to facilitate FDI Reporting(24.08.2015)

The Reserve Bank of India launched a module for reporting Foreign Currency Transfer of Shares on the eBiz portal. Online reporting facility on the eBi.....

Tags : Rbi, ebiz, fctrs

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Del HC: Decision to Limit No. of Visits by Family/Legal Advisors With Prisoners Not Arbitrary(21.02.2023)

Delhi High Court has held that Delhi Government's decision to restrict the total number of visits by family members, relatives, friends and legal advi.....

Tags : Delhi High Court, Arbitrary, Visits, Prisoners

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Cal. HC: Admitting Jurisdiction in Pleading Enough for Express Agreement(16.02.2023)

Calcutta High Court has held that filing of pleadings before arbitral tribunal and agreeing to jurisdiction of the tribunal therein satisfies the requ.....

Tags : Calcutta High Court, Express Agreement, Jurisdiction, Arbitration

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Del. HC: Updation Application to Change Amount of Counter Claim is an Amendment Application(29.03.2023)

Delhi High Court has held that where a party has filed an application seeking to update its counter claims before Arbitral Tribunal, the said applicat.....

Tags : Delhi High Court, Updation Application, Amendment, Arbitral Tribunal

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Delhi HC Restrains Vodafone From Seeking Arbitration in Rs 20,000-Crore Tax Dispute Case(23.08.2017)

Delhi High Court has “restrained” Vodafone from going ahead with its arbitration proceedings against India under a treaty with the UK, in the Rs 20,00.....

Tags : Delhi HC, Vodafone, Arbitration

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3rd Parties to Arbitration Proceeding May Appeal If They Are Affected By Award: Bombay High Court(12.09.2018)

Bombay High Court has held that a third party to an arbitration proceeding has the right to maintain an appeal under Section 37 of the Arbitration and.....

Tags : Bombay High Court, Arbitration

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PAN and Contact Info 'Leaked', Did SBI Miss Major Design Flaw in Its Envelopes?(06.12.2017)

An activist has been "pleading" with SBI at the highest level for the past 16 months to ensure compliance with RBI directions, but nothing h.....

Tags : RBI

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SC: Arbitrator Cannot Modify Award on An Application Under Section 33 Arbitration Act(23.11.2021)

Supreme Court has observed that an Arbitrator cannot modify an Arbitration award on an application filed under Section 33 of the Arbitration and Conci.....

Tags : Supreme Court, Arbitrator Cannot Modify Award

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‘Ready to Return If....': Amid Buzz of Grand Alliance Backing, Raghuram Rajan Hints at Comeback(28.03.2019)

Former RBI governor Raghuram Rajan is speculated to be the opposition’s choice for finance minister if the grand alliance comes to power in upcoming.....

Tags : RBI

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Supreme Court: Basis that Allegations of Fraud are not Arbitrable is a Wholly Archaic View(13.01.2021)

Supreme Court has ruled that the ground that allegations of fraud are not arbitrable is a wholly archaic view, which has become obsolete, and deserves.....

Tags : Supreme Court, Fraud, Arbitrable

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RBI Releases First Bi-Monthly Monetary Policy Statement, 2019-20(04.04.2019)

Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) has announced its resolution under first bi-monthly monetary policy statement for 2019-.....

Tags : Reserve Bank of India, RBI, First Bi-monthly Monetary Policy Statement, 2019-20

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Bombay HC: Court Not Powerless to Appoint Appropriate Arbitral Tribunal(30.01.2023)

Bombay High Court has held that even if party’s right to appoint its nominee in Arbitral Tribunal is forfeited because it failed to exercise its right.....

Tags : Bombay High Court, Arbitral Tribunal, Arbitration

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Arbitration tribunal empowered to recall order ‘in the interest of justice’(08.07.2016)

An arbitration tribunal can exercise its inherent powers to “secure the ends of justice”, the Chhattisdarh High Court said, allowing claims that the t.....

Tags : chhattisgarh, arbitration, order, recall, interest of justice

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From Rate Cut to New NPA Norms, Here Are 10 Key Announcements Made by RBI Today(06.06.2019)

RBI’s MPC now sees consumer price index (CPI) inflation at 3-3.1% in the first half of FY20 and at 3.4-3.7% in the second half of FY20.

Tags : RBI

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Infrastructure Projects: RBI Relaxes Refinancing Norms for NBFCs(03.06.2016)

RBI in order to encourage infrastructure financing has eased norms for NBFCs to refinance such projects and provide longer repayment tenures.

Tags : RBI, Infrastructure, NBFCs

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Chhattisgarh HC: MSME Facilitation Council can Also Administer Arbitration(18.04.2022)

Chhattisgarh High Court has held that the bar under section 80 of the Arbitration and Conciliation Act, 1996 which prevents the conciliator acting as .....

Tags : Chhattisgarh High Court, section 80 of the Arbitration and Conciliation Act, 1996, Ministry of Micro, small & Medium Enterprises

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SC: When Parties Change Venue of Arbitration by Mutual Agreement, New Place is Seat of Arbitration(19.04.2021)

Supreme Court has held that when parties change the 'venue/place of arbitration' by mutual agreement, the new venue/place will become the 'seat of the.....

Tags : Supreme Court, Seat of Arbitration

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Constitution of Monetary Policy Committee under way(27.06.2016)

The Central government brought in force provisions enabling constitution of the Monetary Policy Committee on 27 June 2016.

The Rules govern.....

Tags : monetary policy committee, members, rbi, inflation

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SC: Arbitration Agreement in Unstamped Contract Which is Exigible to Stamp Duty Not Enforceable(25.04.2023)

Supreme Court Constitution Bench has held that instrument which is exigible to stamp duty may contain arbitration clause and which is not stamped can’.....

Tags : Supreme Court, Constitution Bench, Arbitration Agreement, Unstamped Contract

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SC: Arbitration Can be Set Aside Only if Award Against Public Policy(14.01.2022)

Supreme Court has stated that an arbitration award under the Arbitration and Conciliation Act, 1996 can be set aside only if it is found to be contrar.....

Tags : Supreme Court, Setting Aside of Arbitral Award

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Delhi HC: Disclosure by Arbitrator is Not a Discretionary But a Mandatory Requirement(09.12.2022)

Delhi High Court has held that disclosure by the arbitrator under Section 12 r/w 6th Schedule of the Arbitration & Conciliation Act is not a discretio.....

Tags : Delhi High Court, Arbitration & Conciliation, Disclosure

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Delhi HC Agrees to Maintain Confidentiality of Ex- Ranbaxy Promoters in Daiichi Case(04.10.2016)

Delhi HC has allowed application seeking confidentiality of asset declaration made by Malvinder Singh & Shivinder Singh, Ex-Ranbaxy promoters and othe.....

Tags : Delhi HC , Rs. 2562 crore Singapore arbitration award, Ex- Ranbaxy Promoters

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Kerala HC: District Court Has Jurisdiction to Execute Arbitral Award(10.03.2023)

Kerala High Court while evaluating the scheme of Commercial Courts Act, 2015 has held that District Court has the jurisdiction to execute an arbitral .....

Tags : Kerala High Court, Commercial Courts Act, Arbitral Award

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Delhi HC: Participation in Arbitral Proceedings Does Not Waiver Right to Challenge Appointment(18.02.2022)

Delhi High Court has terminated the mandate of a sole arbitrator appointed unilaterally at the instance of one of the contracting parties. The Court h.....

Tags : Delhi High Court, Participation in Arbitral Proceedings

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Del. HC: Can’t Consider Participation in Arbitration Proceedings as Waiver of S. 12(5) A&C Act(09.01.2023)

Delhi High Court has held that applicability of Section 12(5) of Arbitration and Conciliation Act can only be waived off by an express agreement and n.....

Tags : Delhi High Court, Arbitration, Express Agreement, Waive

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RBI grants "in-principle" approval to 11 Applicants for Payments Banks(19.08.2015)

The Reserve Bank of India granted "in-principle" approval to 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Ban.....

Tags : Rbi, payments banks, approved, guidelines

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Arbitral Tribunal Awards Tata Motors Rs. 326-cr Claim in Dispute with DTC(18.08.2017)

The Arbitral Tribunal has awarded a claim of nearly Rs. 326 crore to Tata Motors Limited (TML) against DTC towards illegally recovered liquidated dama.....

Tags : Tata Motors, Arbitration

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Del. HC: Arbitration Award Violating Indian Contracts Act is Patently Illegal(15.03.2023)

Delhi High Court while partially set aside an arbitration award that was passed in contravention of Sections 59-61 of Indian Contracts Act (ICA), 1872.....

Tags : Delhi High Court, Contracts Act, Arbitration Award, Violation, Illegal

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Kerala HC: Lacuna in Arbitration Act Needs to be Addressed(09.02.2023)

Kerala High Court while expressing displeasure at the non-execution of an arbitration award that had been pending for over 10 years, has observed that.....

Tags : Kerala High Court, Arbitration, Lacuna

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Calcutta HC: Discretionary Scope to Stay Award u/s 19 MSME Act Wider Than u/s 36(3) Arbitration Act(30.03.2022)

Calcutta High Court has held that the scope of discretion upon a Court to stay an award or a decree under Section 19 of the Micro, Small and Medium En.....

Tags : Calcutta High Court, Arbitration and Conciliation Act, 1996, Small and Medium Enterprises Development Act

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Delhi HC: Courts Should Rarely Exercise Power to Prevent Arbitration(25.07.2016)

Delhi HC has said that while courts have power to issue injunction against arbitration proceedings, they should use it rarely and said, "Courts need t.....

Tags : Delhi HC , Arbitration

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RBI Policy: RBI Cuts Repo Rate by 25 BPS(04.04.2019)

Reserve Bank of India's monetary policy committee (MPC), led by Governor Shaktikanta Das, has announced a 25 basis points cut in the short-term lendin.....

Tags : RBI Policy, Repo Rate

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Revised Guidelines on Bad Loans will Sustain Improvement in Credit Culture, Says RBI Guv(08.06.2019)

Speaking at the NIBM, at the 15th Annual Convocation of Post Graduate Diploma in Management, here, RBI Governor Shaktikanta Das said the new guideline.....

Tags : RBI

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RBI Mandates Cyber Security Policy to Keep Hackers at Bay(03.06.2016)

Reserve Bank of India (RBI) has directed all banks to immediately frame cyber security policies approved by their respective boards.

Tags : RBI, Cyber Security

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Calcutta HC: Arbitration Agreement Not Discharged By Death of Party and Is Enforceable(18.04.2022)

Calcutta High Court has observed that an arbitration agreement will not be discharged by the death of a party and it will be enforceable by or against.....

Tags : Calcutta High Court, arbitration agreement, legal representatives

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Bombay HC: Court Shall Refer Parties to Arbitration; When There Is Duality of Expert Opinion(11.05.2022)

Bombay High Court has ruled that when an allegation as to the fraud and forgery committed in the execution of the agreement is made and there is a dua.....

Tags : Bombay High Court, arbitrator, forgery

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SC Directs RBI to Disclose Information on Bank Inspection Report Under RTI(26.04.2019)

Supreme Court has directed Reserve Bank of India (RBI) to disclose information pertaining to its annual inspection report of banks under the Right to .....

Tags : Supreme Court, RBI

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Reserve Bank of India Bulletin for October, 2015(15.10.2015)

The Reserve Bank of India released its Bulletin for October, 2015. The Bulletin highlights the relatively precarious state of the global economy, with.....

Tags : Rbi, bulletin, October, 2015, consumers

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Delhi HC: Right of Party to File Counter Claims Exists Independently of Any Liberty(22.04.2022)

Delhi High Court has held that any issue on which the Arbitral Tribunal has the jurisdiction to pass a final award can also be the subject matter of a.....

Tags : Delhi High Court, Arbitral Tribunal, Section 34 of the Arbitration and Conciliation Act

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Delhi High Court Pulls Up RBI for not Replying to Plea Claiming Misuse of Data by Banks(12.08.2019)

Delhi High Court has pulled up the Reserve Bank of India for failing to give any response, from February till date, to a petition seeking to stop bank.....

Tags : Delhi High Court, RBI

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SC: Existence of Arbitration Clause Does Not Debar Court from Entertaining Writ Petition(14.05.2021)

Supreme Court has observed that the existence of an arbitration clause does not debar the court from entertaining a writ petition in a contractual mat.....

Tags : Supreme Court, Existence of Arbitration Clause

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Delhi HC: Tribunals Should Decide Objections on Its Jurisdiction as Preliminary Issue(12.04.2021)

Delhi High Court has held that following the principle of kompetenze-kompetenze, an Arbitral Tribunal has the power to rule on its own jurisdiction. H.....

Tags : Delhi High Court, Arbitral Tribunal

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Del HC: Party Can’t Restrict Limitation Period Contrary to Limitation Act, for Invoking Arbitration(24.03.2023)

Delhi High Court has held that party cannot be permitted to restrict the period of limitation for invoking arbitration, in contravention to the limita.....

Tags : Delhi High Court, Limitation Period, Arbitration

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SC Directs RBI to Disclose Information on Bank Inspection Report Under RTI(26.04.2019)

Supreme Court has directed Reserve Bank of India (RBI) to disclose information pertaining to its annual inspection report of banks under the Right to .....

Tags : Supreme Court, Supreme Court, RBI

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Madras HC: Manifest Intention to Arbitrate is Sine Qua Non for Filing Application Under S.9(22.04.2022)

Madras High Court has ruled that manifest intention to arbitrate is a sine qua non for filing an application under Section 9 of the Arbitration & Conc.....

Tags : Madras High Court, Section 9 of the Arbitration & Conciliation Act, 1996, sine qua non, arbitration

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Punjab & Haryana HC: No Bar on Appointment of Former Bureaucrats as Government Arbitrator(16.11.2016)

Punjab and Haryana High Court has held that there is no bar on a former employee, consultant or adviser of a party being appointed as a mediator merel.....

Tags : Punjab and Haryana High Court, Former Bureaucrats, Government Arbitrator

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Bank of China Will Now Have Offices in India, RBI Issues Licence(04.07.2018)

The decision to allow Bank of China to start operations was reached at a meeting between Chinese President Xi Jinping and Prime Minister Narendra Modi.....

Tags : RBI

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Bombay HC: Court Lacking Jurisdiction to Cannot Appoint Arbitrator, No Objection by Opposite Party(20.04.2022)

Bombay High Court has held that a Court cannot appoint an Arbitrator when the only proceeding before it is an application for grant of interim measure.....

Tags : Bombay High Court, Appointment of Arbitrator

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Supreme Court Lists Out Factors to be Considered by Arbitrator While Awarding Interest(12.10.2018)

Supreme Court has listed factors that must be taken into consideration by the arbitrator while awarding interest, observed that discretion of the arbi.....

Tags : Supreme Court, Arbitration

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RBI releases Annual Report of the Banking Ombudsman Scheme(26.11.2015)

The Reserve Bank of India released the Annual Report of the Banking Ombudsman Scheme 2006: 2014-2015. Some highlights include receipt of 85,131 compla.....

Tags : Rbi, ombudsman, complaints, 2015

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Del. HC: Arbitral Tribunal Awarding Damages for Loss of Profit is Illegal if it Contradicts Contract(02.08.2024)

Delhi High Court has held that if the Arbitral Tribunal decides to award damages for loss of profit, such decision shall be vitiated by patent illegal.....

Tags : Delhi High Court, Arbitral Tribunal, Contract

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As RBI Says 99.3% Demonetised Notes Back in Banks, Mamata Hits Out at Modi Govt(29.08.2018)

Mamata Banerjee’s statement comes after RBI said that as many as 99.3 percent of the old Rs 500 and 1,000 notes that were banned overnight in Novemb.....

Tags : RBI

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All. HC: Arbitrator to Decide Whether Claims Prior to Work Order are Covered by Arb. Clause or Not(15.04.2024)

Allahabad High Court has held that it is upon the arbitrator to decide whether claims between the parties prior to the work order in question can be c.....

Tags : Allahabad High Court, Section 11 A&C Act, Arbitration Clause

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J&K HC Approves Establishment of Court Annexed International Arbitration Centre(21.09.2020)

Jammu and Kashmir High Court has accorded approval to set up the Jammu and Kashmir International Arbitration Centre (JKIAC), annexed to the High Court.....

Tags : Jammu and Kashmir High Court, International Arbitration Centre

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Crypto-currency, Bitcoins Aren't Valid Currency or Money Under Existing Laws: RBI Tells SC(14.09.2018)

The affidavit field in Supreme Court said that the Reserve Bank of India (RBI) has the authority to notify instruments as valid currency but it should.....

Tags : Court, RBI, Supreme Court

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Tel. HC: Existence & Validity of Arb. Agreement Must be Determined u/s 11(6) of A&C Act by Court(24.06.2024)

Telangana High Court has observed that the Court while exercising the jurisdiction under Section 11(6) of the Arbitration and Conciliation Act, 1996 h.....

Tags : Telangana High Court, Arbitration Agreement, S. 11(6) of A&C Act

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Bombay HC: Petitions on Ground of Exceptional Circumstances by Arbitral Tribunal Not Maintainable(11.04.2022)

Bombay High Court has held that remedy under Section 16 of the Arbitration and Conciliation Act, 1996 lies elsewhere and the petitioners cannot file W.....

Tags : Bombay High Court, Arbitration and Conciliation Act, 1996, Article 226, Article 227, Constitution of India, exceptional circumstances

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Karnataka HC: Foreign Arbitral Award Enforceable if Property Within Territorial Jurisdiction(04.04.2022)

Karnataka High Court has held that an international commercial arbitral award rendered between parties that have no link with India can be enforced by.....

Tags : Karnataka High Court, international commercial, arbitral award, territorial jurisdiction

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RBI signs MoU on "Supervisory Cooperation and Exchange of Supervisory Information" with the Central Bank of UAE(19.10.2015)

Reserve Bank of India signed a Memorandum of Understanding with the Central Bank of UAE. The agreement is hoped to increase supervisory co-operation b.....

Tags : Rbi, central bank, uae, cooperation

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Cal. HC: Award Passed by Unilaterally Appointed Arbitrator is Null(13.04.2023)

Calcutta High Court has observed that a unilaterally appointed award does not carry the privilege of existence in the eyes of the law and is regarded .....

Tags : Calcutta High Court, Unilateral Appointment, Arbitrator, Enforcement

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Delhi HC: Provision for Quantum of Damages Under LA Act Would Apply to Arbitrations Under RDP Act(24.05.2022)

Delhi High Court has held that the provisions for the quantum of damages under Land Acquisition Act, 2013 (LA Act) would apply to arbitrations under t.....

Tags : Delhi High Court, Damages, Arbitrations

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RBI, Centre Inch Closer to Resolving Differences Ahead of Board Meeting: Sources(15.11.2018)

While the rift is far from healed, the sources said enough progress had been made to avoid acrimony at a board meeting of the RBI next Monday. The thr.....

Tags : RBI

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Delhi HC: Trademark Disputes that Arises Out of Contractual Rights and Obligations are Arbitrable(06.04.2022)

Delhi High Court has held that all the disputes arising out of the Trade Marks Agreement are not outside the scope of arbitration. The Court opined th.....

Tags : Delhi High Court, Trade Marks Agreement, arbitration, grant, registration, trademarks

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RBI Gives Major Relief to MSME Sector(07.06.2018)

In a major relief to MSMEs, the Reserve Bank has eased NPA classification norms for such units facing input credit linkages and associated issues unde.....

Tags : RBI, MSME

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Arbitral Tribunal can't Award Interest if Agreement Expressly Bars Its Payment: SC(08.02.2019)

Supreme Court has reiterated that arbitrator cannot award interest on award if the agreement expressly prohibits grant of interest.

Tags : Supreme Court, Arbitral Tribunal can't Award Interest if Agreement Expressly Bars Its Payment

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Delhi HC: Award of Cost Not Containing Reasons is Arbitrary(19.01.2023)

Delhi High Court has held that awarding costs by a stroke of the pen, without stating reasons would fly in the face of section 31(3) as per which an a.....

Tags : Delhi High Court, Cost, Arbitrary, Reason

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Supreme Court: Third Arbitrator in Any International Dispute Must Be From Neutral Nation(13.04.2017)

Supreme Court has said that third arbitrator in any international rift involving a foreign company should always be from a neutral country for a sense.....

Tags : Supreme Court, International Dispute, Arbitrator

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RBI Sets Rupee Reference Rate against US Dollar and Euro(08.07.2016)

Reserve Bank of India (RBI) has fixed reference rate of the rupee at 67.4972 against the US dollar and 74.8274 for the euro.

Tags : Reserve Bank of India, RBI, reference rate

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Madras HC: MSMED Act Overrides Arbitration Agreement between Parties(14.04.2022)

Madras High Court has ruled that section 18 of Micro, Small & Medium Enterprises Development Act, 2006 will override the arbitration clause between th.....

Tags : Madras High Court, Ministry of Micro, Small & Medium Enterprises Act, arbitration clause, overriding, non-obstante clause

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Madhya Pradesh HC: Court Has Jurisdiction U/S 11 A&C Act to Appoint New Arbitrator(04.05.2022)

Madhya Pradesh High Court has held that once the appointment of arbitrator is void ab initio and the arbitrator is barred by virtue of Section 12 (5) .....

Tags : Madhya Pradesh High Court, Arbitration and Conciliation Act, 1996, Section 12 (5), void ab initio

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Gauhati HC Dismisses Appeal Against Order of Trial Court to Condone Delay in Arbitration Appeal(09.02.2022)

Gauhati High Court has dismissed an appeal filed by the Union of India against an order of the trial Court refusing to condone the delay in filing an .....

Tags : Gauhati High Court, Condone Delay in Arbitration Appeal

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RBI Releases Guidelines for On-Tap Licensing of Universal Banks in Private Sector(02.08.2016)

Reserve Bank of India (RBI) has released final guidelines for on-tap licensing of universal banks in private sector, under which it ring-fenced bankin.....

Tags : RBI , On-Tap Pvt Sector Bank Licences

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RBI Notifies Rates for Small Saving Schemes for Q2(08.07.2016)

Reserve Bank of India (RBI) has notified the interest rates for different small savings schemes for the quarter ending September. The interest rates h.....

Tags : Reserve Bank of India, RBI, small savings schemes

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Gau HC: Courts Have Duty to Examine & Reject Time Barred Claims to Protect Parties from Arb. Process(07.06.2024)

Gauhati High Court has held that courts have a duty to examine and reject time-barred claims in order to prevent parties from getting trapped in costl.....

Tags : Gauhati High Court, Time Barred Claims, Arbitration Processes

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Bombay HC: Arbitral Tribunal Cannot Apply Public Law Principles(21.06.2021)

Bombay High Court while setting aside the arbitration award against the BCCI over the termination of Deccan Chargers from IPL observed that an Arbitra.....

Tags : Bombay HC, Arbitral Tribunal

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RBI: Banks Can Accept Tax Dues in Cash under Income Declaration Scheme(09.09.2016)

Reserve bank of India (RBI) has directed banks to accept tax dues in cash under the domestic black money declaration scheme which closes on September .....

Tags : RBI, domestic black money declaration scheme

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Madras HC: Arbitral Award Not Providing Statutory Compensation Under NHA is Perverse(04.05.2022)

Madras High Court has observed that an arbitral award does not provide for payment of compulsory statutory compensation with regard to the land acquir.....

Tags : Madras High Court, arbitral award, National Highways Act, 1956

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President Promulgates Constitution of Commercial Courts , Arbitration and Conciliation Ordinanences(26.10.2015)

President has signed ordinances to amend Arbitration and Conciliation Act and bring into force Commercial Courts, Commercial Division and Commercial A.....

Tags : Arbitration and Conciliation Act, Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015

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Avitel’s petition against arbitral award dismissed(28.09.2015)

The Bombay High Court dismissed Avitel Post Studioz’ petition under the Arbitration and Conciliation Act, 1996 against arbitral awards passed in 2012 .....

Tags : Arbitration, seat, challenge, exclude, jurisdiction

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SC: Limited Scrutiny by Court Under S.11 of A&C Act is Necessary And Compelling(11.04.2023)

Supreme Court has held that under Section 11(6) of the Arbitration and Conciliation Act, 1996, Court’s are not expected to act mechanically and observ.....

Tags : Supreme Court, Judicial Scrutiny, Arbitration, Pre-Reference Stage

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SC Lays Down Tests to Determine 'Fraud Exception' to Arbitrability of Disputes(21.08.2020)

Supreme Court has laid down the tests to determine "serious allegations of fraud" exemption to arbitrability of disputes.

Tags : Supreme Court, Arbitrability of Disputes

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RBI Clarifies 'Mandatory To Link Aadhaar With Bank Account'(23.10.2017)

Reserve Bank of India has clarified that linking of Aadhaar with bank accounts is mandatory.

Tags : RBI

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Despite RBI Clarification, No Takers for Rs 10 Coin in Manipur(17.05.2019)

Skepticism still runs high over the validity of the particular tender among local vendors and shopkeepers.

Tags : RBI

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Delhi HC: Arbitration Clause Continues To Operate Even After Dissolution Of Partnership(27.01.2023)

Delhi High Court has observed that an arbitration clause contained in a contract executed with a partnership firm, will continue in effect even after .....

Tags : Delhi High Court, arbitration, dissolution, partnership

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RBI Policy: RBI Cuts Repo Rate by 25 Bps(06.06.2019)

Reserve Bank of India’s monetary policy committee led by Shaktikanta Das cut the repo rate by 25 basis points while remaining considerate of growth co.....

Tags : RBI Policy, Repo Rate

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RBI to make FEMA compounding orders public(26.05.2016)

The Reserve Bank of India will provide information on compounding orders passed after 1 June 2016.

The step, seen as a further shaming tac.....

Tags : fema, compounding, rbi, order

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Delhi HC: Petition u/s 9 A&C Act Not Maintainable Against Procedural Orders of Arbitral Tribunal(15.04.2022)

Delhi High Court has ruled that a petition under Section 9 of the Arbitration and Conciliation Act, 1996 (A& Act) for interim measures of protection, .....

Tags : Delhi High Court, Procedural Orders of Arbitral Tribunal

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SC Determines the Conversion Rate of Foreign Award Expressed in Foreign Currency to Indian Rupees(12.08.2024)

SC has held that statutory scheme makes a foreign arbitral award enforceable when objections against it are finally decided. Therefore, as per A&C Act.....

Tags : Supreme Court, Foreign Arbitral Award, Conversion Rate

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Calcutta HC: Order U/S 36 of A&C Act is Interim Order, Can be Modified on Basis of Financial Hardship(10.05.2022)

Calcutta High Court has held that financial hardship and financial indebtedness are sufficient grounds to modify an order passed under Section 36 of t.....

Tags : Calcutta High Court, Arbitration and Conciliation Act, 1996, Section 36, financial hardship, financial indebtedness

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Gauhati HC: Arbitration Can be Invoked Despite Existence of Alternative Remedy Under RERA Act(17.06.2024)

Gauhati HC has held that arbitration can be invoked to settle a real estate dispute, despite the existence of an alternative legal remedy under the Re.....

Tags : Gauhati High Court, RERA Act, Arbitration Act, Real Estate (Regulation and Development) Act

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Delhi HC: Sufficiency of Stamp Duty on Agreement Cannot be Adjudicated u/s 11 of A&C Act(14.04.2022)

Delhi High Court has observed that the Court can’t adjudicate on the issue whether the claims made by the petitioner are barred by limitation while de.....

Tags : Delhi High Court, Section 11 of the Arbitration and Conciliation Act, 1996, arbitration, limitation

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Del. HC: Arbitral Award Passed After Inordinate/Unexplained Delay is Contrary to Justice(22.05.2023)

Delhi High Court has held that an arbitral award passed after an inordinate, substantial and unexplained delay is contrary to justice and in conflict .....

Tags : Delhi High Court, Arbitral Award, Unexplained Delay, Justice

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Himachal Pradesh High Court: Onus Upon Arbitrator to Perform Task Within Time(10.07.2024)

Himachal Pradesh High Court while criticizing the callous attitude of an arbitrator appointed by the Central Government, has observed that the onus is.....

Tags : Himachal Pradesh High Court, Arbitrator

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Place of Arbitration Doesn’t Ipso Facto Assume Status of Seat: Supreme Court(25.09.2018)

Supreme Court has held that place of arbitration does not ipso facto assume the status of its seat and observed that ‘venue’ cannot be equated with th.....

Tags : Supreme Court, Arbitration

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Calcutta HC: Post-Award Interest is Not Advisory but Mandate of A&C Act(04.05.2022)

Calcutta High Court has held that award of future or post-award interest is not advisory but a mandate of the Arbitration and Conciliation Act, 1996 a.....

Tags : Calcutta High Court, Arbitration and Conciliation Act, 1996, Post-award

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Delhi HC: Arbitral Award Cannot be Sustainable Merely Because of Participation of Parties(31.03.2022)

Delhi High Court has held that the participation of any party is insufficient to infuse life to arbitral proceedings if the award is void ab initio on.....

Tags : Delhi High Court, arbitral proceedings, arbitrator, arbitral award

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Ordinances amending arbitration law and creating commercial courts promulgated(23.10.2015)

Continuing with its policy of if you can’t metamorphosise a Bill into an Act use an Ordinance instead, the Union Cabinet approved the promulgation of .....

Tags : Commercial, arbitration, ordinance, high court

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RBI Turns Net Seller of Foreign Currency in August(13.10.2015)

Reserve Bank of India (RBI) for the first time in the past one year has turned net sellers of foreign currency in August to help arrest the slide in t.....

Tags : Reserve Bank of India (RBI),Foreign Currency

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SC: To Claim Exclusion of Period When Court Remain Closed, S.34 Appln. Must be Filed Within 90 Days(12.04.2023)

Supreme Court has observe that exclusion of period during which Court was closed from computation of limitation is available only when application und.....

Tags : Supreme Court, Arbitration, Prescribed Period, Limitation

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Supreme Court: Arbitration Initiated After Imposition Of Moratorium Under IBC is Non Est in Law(03.11.2017)

Supreme Court has held that arbitration proceedings instituted after the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Co.....

Tags : Supreme Court, Insolvency, Arbitration

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LCIA Rules Against Djibouti’s Port Company in Dispute with DP World(13.07.2021)

London Court of International Arbitration (LCIA) has ruled against Djibouti’s port company, Port de Djibouti S.A. (PDSA), in its dispute with DP World.....

Tags : London Court of International Arbitration, Djibouti’s Port Company

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RBI's Deadline For Bankrupt Companies: Supreme Court Stays Insolvency Proceedings Against Defaulters(12.09.2018)

SC has halted insolvency proceedings against defaulters in the power, sugar, shipping and textile sectors, providing relief to borrowers hours before .....

Tags : Supreme Court, Insolvency, RBI

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Delhi HC: Can Pass Attachment Order Before Award by Arbitral Tribunal if Circumstances Warrant So(17.04.2023)

Delhi High Court while observing that attachment order can be passed before an award is rendered by Arbitral Tribunal if circumstances so warrant, has.....

Tags : Delhi High Court, Arbitral Tribunal, Attachment Order

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Application Under Order 2 Rule 2 CPC can’t be Considered by Court U/S 11 Arbitration Act: Delhi HC(16.11.2018)

Delhi High Court has held that courts cannot consider the question of viability of a claim under Order 2 Rule 2 of Code of Civil Procedure, while hear.....

Tags : Delhi High Court, CPC, Arbitration and Conciliation Act, 1996

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SC To HCs’: Dispose Sec 11(5) & 11(6) Applications Pending For Over 1 Year Within 6 Months(25.05.2022)

SC while emphasising the need for High Courts to decide applications for appointments of Arbitrators has observed that if the arbitrators are not appo.....

Tags : Supreme Court, High Courts, Arbitration, Appointment

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SC: Absence of Arbitration Agreement Make Article 137 of Limitation Act Inapplicable to Arbitration(07.04.2022)

Supreme Court has observed that Article 137 of the Limitation Act, 1963 would be inapplicable in arbitration proceedings commenced under Bihar Public .....

Tags : Supreme Court, Article 137 of the Limitation Act, 1963, Bihar Public Works Contracts Disputes Arbitration Tribunal, arbitration proceedings

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Del. HC: Independent Assessment of Award in Appeal u/s 37 of A&C Act Cannot be Undertaken by Courts(24.07.2024)

Delhi High Court has restated that the role of a court while entertaining an arbitration appeal under Section 37 of the Arbitration and Conciliation A.....

Tags : Delhi High Court, Arbitration Appeal, Independent Assessment

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Supreme Court Explains Whether Arbitration Clause Can be Invoked After Parties Compromise(01.08.2019)

Supreme Court has ruled that when the parties to a contract containing arbitration clause have settled their differences and have arrived at a comprom.....

Tags : Supreme Court, Arbitration Clause

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SC Upholds Rejection of S. 8 Application as Reliefs Claimed Fell Outside the Arbitration Clause(03.05.2023)

SC while upholding the rejection of an application filed under Section 8 of Arbitration and Conciliation Act, 1996 observed that the cause of action o.....

Tags : Supreme Court, Arbitration, Section 8 of A&C Act

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Supreme Court: Party to Agreement Cannot be Arbiter in his Own Cause(13.09.2019)

Supreme Court has clarified that a party to an agreement cannot be an arbiter in his own cause. The Court observed that as long as the dispute remaine.....

Tags : Supreme Court, Arbiter

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Gujarat HC: There Cannot Be Deemed Waiver of Section 12(5) of A&C Act(12.04.2022)

Gujarat High Court has held that unless the embargo placed under Section 12(5) of the Arbitration and Conciliation Act, 1996 is waived by the parties,.....

Tags : Gujarat High Court, embargo, Section 12(5) of the Arbitration and Conciliation Act, 1996

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RBI releases its Annual Report for 2014-15(27.08.2015)

The Reserve Bank of India released its 'Annual Report 2014-2015' on the working of the Bank. The Report provides an overview of the objectives of the .....

Tags : Rbi, annual report, 2014, 2015

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Gujarat HC to RBI: Who Regulated Spot Exchanges(12.10.2016)

Gujarat HC has sought explanation from Reserve Bank of India (RBI) on granting a settlement and clearing licence to National Spot Exchange.

Tags : Gujarat HC , RBI, National Spot Exchange

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Gau HC: Can’t Condone Delay in Filing Petition U/S 34 A&C Act Beyond 120 Days(17.04.2023)

Gauhati High Court has held that Court cannot condone delay in the filing of the petition under Section 34 of the Arbitration & Conciliation Act beyon.....

Tags : Gauhati High Court, Period of Limitation, Condone Delay, Arbitration

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Delhi HC: Arbitral Award Passed in Disregard to Judicial Decisions Conflicts with Public Policy(24.05.2022)

Delhi High Court has held that an arbitral award that is not in consonance with the judicial decisions laid down by the courts of India would be in vi.....

Tags : Delhi High Court, Arbitral Award, Public Policy

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RSS Ideologue Gurumurthy Slams RBI Ahead of Board Meet, Asks Why Bad Loans Policy Changed After 2014(16.11.2018)

Delivering a lecture on the state of the economy, Gurumurthy backed the government’s stance on issues like easing credit rules for state-run banks a.....

Tags : RBI

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Delhi HC: Rules of Arbitral Institution Do Not Determine Place of Arbitration(06.04.2022)

Delhi High Court has observed that the arbitral institution’s rules would not determine the place of the arbitration and only the Courts at the place .....

Tags : Delhi High Court, arbitration, arbitration proceedings, appointment of an arbitrator

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RBI Shortlists 10 Micro Lenders to Set Up Small Banks(17.09.2015)

RBI has shortlisted 10 micro lenders to set up small banks to advance loans primarily to unbanked, small businesses , farmers, micro industries, small.....

Tags : RBI ,small banks

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Orissa HC: Court for Deciding Applications Arising Out of Arbitration Agreement is Commercial Court(15.04.2022)

Orissa High Court has observed that the Court for the purpose of deciding all the applications arising out of the arbitration agreement between the pa.....

Tags : Orissa High Court, Court for Deciding Arbitration Applications, Commercial Court

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SC: Provisions of Limitation Act Will Apply to Arbitration Proceedings Under MSMED Act(30.06.2021)

Supreme Court held that the provisions of Limitation Act, 1963 will apply to arbitration proceedings initiated under Section 18(3) of Micro, Small and.....

Tags : Supreme Court, Arbitration Proceedings Under MSMED Act

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SC Upholds Delhi HC Order Directing DMRC to Pay Arbitral Award to DAMEPL(05.05.2022)

Supreme Court has upheld a Delhi High Court order directing the Delhi Metro Rail Corporation to pay over Rs 4,600 crore of arbitral award together wit.....

Tags : Supreme Court , Rs 4,600 crore , arbitral award ,Airport Metro Express Private Limited

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Kar. HC: Non-Signatory Defendants Cannot Be Exposed to Arbitration under Section 8 of A&C Act(29.05.2023)

Karnataka High Court has ruled that the non-signatory defendants cannot be exposed to arbitration under Section 8 of the Arbitration and Conciliation .....

Tags : Karnataka High Court has, Arbitration and Conciliation Act, Section 8

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Del. HC: Time from Petition u/s 34 of A&C Act to 2015 Amendment Act Excluded from Limitation Period(10.07.2024)

Delhi High Court has held that, for enforcement of an arbitral award, time period beginning from the filing of petition under Section 34 of the Arbitr.....

Tags : Delhi High Court, Limitation Period, Arbitral Award

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Petition Under Section 34 A&C Act Petition not to be Remanded to Arbitrator for Fresh Decision: SC(16.10.2018)

Supreme Court has reiterated that the court while deciding a petition under Section 34 of the Arbitration and Conciliation Act has no jurisdiction to .....

Tags : Supreme Court, Arbitration

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District courts 'principal civil Court' in Bihar(30.07.2015)

The District Court, not the Subordinate court, have original jurisdiction in Bihar for receiving matters under Section 34 of the Arbitration and Conci.....

Tags : arbitration, civil, original jurisdiction

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Calcutta HC: Arbitration Invoked After Stipulated Period Doesn’t Frustrate Intention to Arbitrate(18.07.2024)

Calcutta High Court has held that if arbitration has been invoked by the parties after the period that is defined in the arbitration clause, it shall .....

Tags : Calcutta High Court, Arbitration, Stipulated Period

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MP HC: Can Set Aside Award u/s 34 of A&C Act if Arbitrator Travels Beyond Arbitration Agreement(18.11.2024)

MP High Court has held that while passing an award if the arbitrator travels beyond the terms of arbitration agreement then the award can be set aside.....

Tags : MP High Court, Arbitration Agreement, Section 34

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Delhi HC: Under Arbitration Act, Date of Receipt of Corrected Award Would be Taken as Disposal Date(13.01.2025)

Delhi High Court has held that under Section 34(3) of the Arbitration and Conciliation Act, 1996 the date of receipt of corrected award would be taken.....

Tags : Delhi High Court, Arbitration Act, Corrected Award

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RBI Guv Urjit Patel Appears Before Parliamentary Panel, Assures Steps to Tackle NPA Crisis(13.06.2018)

Sources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over the crisis.....

Tags : RBI

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CIC Refuses To Direct RBI To Disclose Defaulters And NPAs List, Says Matter Sub Judice Before SC(24.05.2017)

Central Information Commission has refused to direct RBI to disclose list of defaulters and non-performing assets, in view of a similar issue being un.....

Tags : Supreme Court, RBI

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Bombay HC: Arbitration Clause Cannot be Defeated by Adding Cause of Action Beyond its Scope(13.04.2020)

Bombay High Court has held that a litigant cannot be permitted to defeat an arbitration agreement by adding a cause of action in the suit which is not.....

Tags : Bombay High Court, Cause of Action Beyond Arbitration Clause's Scope

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Delhi HC: Failure to Issue Notice for Additional Payment Does Not Preclude Later Claim(18.04.2022)

Delhi High Court has held that the failure on the part of the contractor to issue notice under the contract does not deprive him of his right to claim.....

Tags : Delhi High Court, contract, arbitral tribunal

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Del HC Dismisses Petition Challenging RBI Notification Withdrawing Rs. 2000 Note from Circulation(03.07.2023)

Delhi High Court has dismissed the PIL moved by advocate Rajneesh Bhaskar Gupta that challenged RBI’s decision to withdraw Rs. 2,000 notes from circul.....

Tags : Delhi High Court, RBI, Withdrawal

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Calcutta HC: No Direction Can Be Passed to Sell Property to Third Party in Section 9 of The A&C Act(20.05.2022)

Calcutta High Court held that no direction can be passed to sell property to third party in Section 9 of the A&C Act. It was held that, to sell the su.....

Tags : Calcutta High Court, Arbitration and Conciliation, Section 9, Property

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Del HC: Counter-Balancing Not Achieved Where Majority of Tribunal Members Appointed By One Party(12.07.2023)

Delhi High Court has held that where a party is required to appoint an arbitrator from a panel made by the other contracting parties, it is mandatory .....

Tags : Delhi High Court, Tribunal Members, Arbitration

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RBI Junks Govt.’s Proposal for 100% FDI in Banks(26.10.2015)

Reserve Bank of India (RBI) has junked proposal from Government to allow up to 100% Foreign Direct Investment (FDI) in banks, which may come as a damp.....

Tags : RBI , 100% FDI in Banks

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RBI Allows Firms having Forex Exposure to Book Forex Forward and Foreign Currency(09.10.2015)

RBI has allowed all resident individuals, firms and companies, who have actual or anticipated foreign exchange exposures, to book foreign exchange for.....

Tags : RBI,Forex Forward ,Foreign Currency

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SC Issues Notice in Plea Challenging Exorbitant Enrolment Fees Charged by State Bar Councils(10.04.2023)

Supreme Court has issued notice to Central government, Bar Council of India and all the State Bar Councils in the writ petition challenging the exorbi.....

Tags : Supreme Court, Enrolment Fees, Exorbitant, Bar Councils

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Delhi HC: Proof Of Injury Necessary For Awarding Damages For Loss of Profits in Arbitration(23.10.2017)

Delhi High Court has held that it is imperative for the claiming party to submit proof of injury suffered in order to successfully claim damages for l.....

Tags : Delhi High Court, Arbitration

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Calcutta HC: Indian Courts Can Grant Anti-Arbitration Injunction Against Foreign-Seated Arbitration(17.08.2020)

Calcutta High Court has ruled that Civil Courts in India do have the power to grant anti-arbitration injunctions against a foreign-seated arbitration,.....

Tags : Calcutta High Court, Anti-Arbitration Injunction

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Supreme Court: Termination of Arbitration Proceedings Cannot Be Recalled(16.05.2019)

Supreme Court has noted that the termination of Arbitration proceedings by the Arbitrator under Section 32(2) (c) of the Arbitration and Conciliation .....

Tags : Supreme Court, Arbitration

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RBI to Banks: Connect All New Floating-Rate Home, Auto Loans to Repo from October(05.09.2019)

RBI has made it essential for banks to link all new floating-rate loans for housing, auto and MSMEs to external benchmark like repo from October 1, a .....

Tags : RBI, Repo

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Delhi HC: Petition Under Article 227 Based on Violation of Legal Provisions Can't Be Allowed(08.04.2022)

Delhi High Court has ruled that a petition under Article 227 of the Constitution of India, 1949 cannot be allowed against an order passed under Sectio.....

Tags : Delhi High Court, Section 16(3), Arbitration and Conciliation Act, 1996, Article 227, Constitution, Tribunal, Jurisdiction

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SC Issue Notices to RBI and HDFC Bank on Regulator’s Power to Enforce Merger Scheme(01.09.2015)

Supreme Court has issued notice to RBI, HDFC Bank and others on plea seeking clarity on RBI’s powers to enforce merger scheme of banks, which was app.....

Tags : Supreme Court , RBI

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Delhi HC: Party Cannot Dispute Jurisdiction on Account of Non-Existence of Arbitration Agreement(30.05.2022)

Delhi High Court has held that a party cannot dispute the jurisdiction on account of non-existence of the arbitration agreement

Tags : Delhi High Court, arbitrator, jurisdiction

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Supreme Court Dismisses Govt.'s Allegation Over RIL Arbitration(23.09.2015)

SC has dismissed Govt.'s allegation of biasness against an arbitrator in an ongoing arbitration to resolve a row with Reliance Industries over Panna-M.....

Tags : SC ,RIL Arbitration ,Panna-Mukta oilfields

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SC Questions RBI’s Policy to Maintain Secrecy of Defaulter's Name(25.10.2016)

Supreme Court has asked Reserve Bank of India why names of borrowers that owe more than Rs 500 crore to country’s banks shouldn't be made public.

Tags : Supreme Court, RBI, borrowers, Defaulters

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Delhi HC: Claims Raised Before Arbitral Tribunal Cannot be Rejected if Not Mentioned in Notice(13.04.2022)

Delhi High Court has held that it is not necessary that a notice issued under Section 21 of the Arbitration and Conciliation Act, 1996 should quantify.....

Tags : Delhi High Court, Section 21 of the Arbitration and Conciliation Act, 1996, Arbitral Tribunal

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SC: After Setting Aside Arbitral Award, Court Can’t Grant Relief by Modifying Such Award(10.05.2023)

Supreme Court has observed that in arbitration cases court cannot modify arbitral award after setting aside the same since it closes the door for the .....

Tags : Supreme Court, Arbitration, Arbitral Award, Modify

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RBI Releases Final Guidelines on Account Aggregators(05.09.2016)

Reserve Bank of India (RBI) has released final guidelines around setting up a category of Non-Banking Financial Companies (NBFCs) called account aggre.....

Tags : RBI, Account Aggregators

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Calcutta HC: Choosing Foreign Law Would Not Exclude Application u/s 9 Arbitration Act(05.08.2021)

Calcutta High Court has ruled that choosing foreign law to govern arbitration would not, by itself, exclude the application of Section 9 of the Arbitr.....

Tags : Calcutta High Court, Foreign Law Governing Arbitration

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Supreme Court: No Appointment of Arbitrator If There is Violation of Conditionality Clause(22.08.2018)

Supreme Court has observed that even after the 2015 amendment which inserted sub-section 6A in Section 11 of Arbitration and Conciliation Act, the arb.....

Tags : Supreme Court, Arbitration

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SIAC Concludes Hearing on Amazon-Future Dispute, to Deliver Judgment in 1 Month(20.07.2021)

Singapore International Arbitration Centre (SIAC) has concluded its hearing on the plea filed by e-commerce major Amazon against the Rs 24,713-crore d.....

Tags : Singapore International Arbitration Centre, Amazon-Future Dispute

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Arbitration: R-Infra Wins Rs. 2950 Cr Arbitration Award Against DMRC Over Airport Metro(12.05.2017)

Reliance Infrastructure (R-Infra) has won a Rs 2,950 crore arbitration award against Delhi Metro Rail Corporation (DMRC) for alleged breach by the lat.....

Tags : Airport Metro, DMRC, Arbitration

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Telangana HC: Arbitral Award A Nullity If Passed Beyond Prescribed Period(15.04.2022)

Telangana High Court has held that the provisions of Section 29A of the Arbitration and Conciliation Act, 1996 (A&C Act) are cast in mandatory terms a.....

Tags : Telangana High Court, Arbitral Award, Nullity, Prescribed Period

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Delhi HC: Weak Financial Condition of Party Cannot be Sole Ground to Deposit Security/Bank Guarantee(09.05.2022)

Delhi High Court has ruled that the weak financial condition of a party cannot be the only ground to direct the party to deposit a security or bank gu.....

Tags : Delhi High Court, bank guarantee, arbitration

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SC: Arbitral Tribunal or Courts Not Permitted to Grant Interest Upon Interest(08.08.2024)

Supreme Court has held that ordinarily courts are not supposed to grant interest on interest except where it has been specifically provided under the .....

Tags : Supreme Court, Arbitral Tribunal, Interest

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SC: Parties Challenging Arbitral Award after Limitation Period Can’t Seek Benefit u/s 4 of Limitation(11.07.2024)

Supreme Court has restated that a party challenging an arbitral award beyond the limitation period of three months by using 30 day extension period gi.....

Tags : Supreme Court, Limitation Period, Arbitral Award

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Delhi HC: filing of Written Statement Qua Transaction, Not Imply Waiver of Rights in Arbitration(13.05.2022)

Delhi High Court has ruled that a party cannot be deemed to have waived its right to invoke arbitration merely because it has filed a written statemen.....

Tags : Delhi High Court, arbitration, arbitration agreement

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Top Court Gives RBI Six Weeks to Establish WhatsApp Payments Data Localisation(05.08.2019)

Top Court has given Reserve Bank of India (RBI) six weeks to examine and report whether WhatsApp Payments has fulfilled its data localisation requirem.....

Tags : Top Court, RBI

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SC: 2015 Arbitration Amendment Not Applicable If Arbitration Notice was Issued Prior to Amendment(11.05.2023)

Supreme Court has held that in cases where notice invoking arbitration is issued prior to 2015 Amendment Act and application under Section 11 for appo.....

Tags : Supreme Court, Arbitration, Notice, Amendment

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Delhi HC: Not Necessary to Go Into Merits of Claim/ Counter-Claim for Appointment of Arbitrator(02.05.2022)

Delhi High Court has ruled that in a petition under Section 11 of the Arbitration & Conciliation Act, 1996 for appointment of arbitrator, it is not ne.....

Tags : Delhi High Court, Section 11, Arbitration & Conciliation Act, 1996, counter claim

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Delhi HC: Dispute Arising Between Parties Subsequently Can Be be Proceeded In Separate Arbitration(13.04.2022)

Delhi High Court has held that a successive dispute arising from the same transaction can be referred to a separate arbitration and the arbitration ag.....

Tags : Delhi High Court, arbitration agreement

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RBI to Conduct Exam for Applicants Who Failed to Appear Due to Kerala Floods(24.08.2018)

Those who have already appeared for the exam will however not be allowed to take it again, RBI said.

Tags : RBI

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SC: Courts Cannot Modify Award Passed Under Section 34 of Arbitration Act(21.07.2021)

Supreme Court has held that Courts cannot modify an award passed under Section 34 of the Arbitration and Conciliation Act, 1996 in Project Director, N.....

Tags : Supreme Court, Modification of Arbitral Award

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Security and Risk Mitigation Measures for Card Present and Electronic Payment Transactions - Issuance of EMV Chip and PIN Cards(27.08.2015)

Due to difficulties faced by banks in only providing Chip and Pin cards to their customers from 1 September, 2015, the Reserve Bank of India has grant.....

Tags : Rbi, chip and pin, card, extension

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Delhi HC: Parties Should Avoid Multiple Arbitrations on Existing Claims on Same Contract(01.06.2022)

Delhi High Court has held that multiple arbitrations with regard to existing claims on same contract has to be avoided.

Tags : Delhi High Court, Arbitration, Multiple Arbitration

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RBI Caps Banks' Exposure to Single NBFC at 20% of Capital Base(13.09.2019)

Reserve Bank of India (RBI) has observed that it has decided that a bank’s exposure to a single NBFC (excluding gold loan companies) will be restricte.....

Tags : RBI, NBFC

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Bombay HC: Court Does Not Have Adjudicatory Powers Under Section 27 of A&C Act(12.04.2022)

Bombay High Court has observed that the Court under Section 27 of the Arbitration and Conciliation Act, 1996 does not have the jurisdiction to conside.....

Tags : Bombay High Court, Section 27 of the Arbitration and Conciliation Act, 1996, arbitral tribunal

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RBI: Report Fraud in 3 Days to Avoid Losses(07.07.2017)

RBI has capped the customer liability at Rs 25,000 if they report unauthorised bility at transactions within seven working days.

Tags : RBI

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RBI Officer Grade B Phase 2 Exam Result 2018 Out at rbi.org.in, Check Now(08.10.2018)

The Reserve Bank of India (RBI) has released RBI Officer Grade B Phase 2 Exam Result 2018 on its official website – rbi.org.in.

Tags : RBI

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Cal HC: Section 12(5) of A&C Act Not Applicable to Arbitration Commenced Before 2015 Amendment(17.04.2023)

Calcutta High Court has held that Section 12(5) of the Arbitration & Conciliation Act, 1996 would not apply to arbitrations that commenced before the .....

Tags : Calcutta High Court, Arbitration, Amendment, Section 12(5), Retrospectively

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Delhi HC: Waiver Under Section 12(5) of A&C Act has to be by an Express Agreement in Writing(25.05.2022)

Delhi High Court has ruled that any right u/s 12(5) of the Arbitration and Conciliation Act, 1996 that deals with the ineligibility of persons to be a.....

Tags : Delhi High Court, Arbitration and Conciliation, Agreement, Arbitrator

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House Panel May Question RBI Governor Urjit Patel on Stand-off With Govt: Sources(16.11.2018)

Tensions between the central bank and the government have escalated recently, with the Finance Ministry initiating discussions under the never-used-be.....

Tags : RBI

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Delhi HC: Filing Complaint with Unrelated Government Office Does Not Constitute Notice(07.04.2022)

Delhi High Court has observed that mere filing of a complaint with an unrelated government office expressing one's grievance does not constitute a not.....

Tags : Delhi High Court, Section 21 of the Arbitration and Conciliation Act, 1996, government office

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Amendments to the Arbitration and Conciliation Bill, 2015(26.08.2015)

The Union Cabinet approved amendments to the Arbitration and Conciliation Bill, 2015. The changes include having to disclose in writing the existence .....

Tags : Arbitration, bill, 2015, amendments

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Delhi High Court: Can Include Non-Signatories in Arbitration Beyond Group Company Ties(25.07.2024)

Delhi High Court has held that in an arbitration proceeding, non-signatory can be included if there exists a contractual relationship that makes the n.....

Tags : Delhi High Court, Non-Signatories, Arbitration Proceeding

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Kerala HC: Dissenting Views of Minority Members Does Not Constitute Arbitral Award(18.04.2022)

Kerala High Court has observed that the Arbitral Tribunal can pass only one arbitral award and not multiple awards, stating that dissenting views can'.....

Tags : Kerala High Court, Arbitral Tribunal, arbitral award

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Supreme Court Announces New Norms for Arbitration Proceedings(08.12.2015)

Supreme Court has announced new norms for hearing arbitration petitions in view of the Arbitration and Conciliation Amendment Ordinance, which came in.....

Tags : Supreme Court, Arbitration and Conciliation Amendment Ordinance

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Del. HC: 2019 Amendment to Section 29A of A&C Act Applied to All Pending Arbitrations(03.07.2023)

Delhi High Court while observing that 2019 Amendment to Section 29A of Arbitration and Conciliation Act is procedural in nature, has held that it shal.....

Tags : Delhi High Court, Arbitrations, Amendment

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Delhi HC: Arbitrator Can’t Allow Forfeiture of Consideration Amount Without a Proof of Actual Loss(23.05.2022)

Delhi High Court has held that the arbitrator cannot allow forfeiture of a substantial amount of consideration without the proof of actual loss solely.....

Tags : Delhi High Court, Earnest Money, Arbitration

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All. HC: Retroactive Application of Rulings to Arbitral Awards Would Create Legal & Procedural Chaos(21.10.2024)

All. HC has observed that if parties were allowed to reopen concluded arbitrations based on new judicial rulings, it would lead to a flood of claims s.....

Tags : Allahabad HC, Arbitral Awards, Retroactive Application

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Reserve Bank of India Releases December Issue of the Financial Stability Report(31.12.2024)

Reserve Bank of India has released the December issue of Financial Stability Report (FSR) reflecting on the collective assessment of the Sub-Committee.....

Tags : RBI, Financial Stability Report, Collective Assessment

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HP HC: Under National Highway Act, Arbitrator Has to Give Award Within 1 Year(24.03.2023)

Himachal Pradesh High Court while observing that arbitrator under National Highways Act is bound to follow A&C Act, has held that arbitrator is mandat.....

Tags : Himachal Pradesh High Court, Arbitrator, National Highway Act

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SC Directs RBI to Disclose Information on Bank Inspection Report Under RTI(26.04.2019)

Supreme Court has directed Reserve Bank of India (RBI) to disclose information pertaining to its annual inspection report of banks under the Right to .....

Tags : Supreme Court, RBI

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Allahabad HC: Application for Extension of Time for Passing Award Lies Only Before High Court(20.04.2022)

Allahabad High Court has observed that the Court for the reason of an application under Section 29A of the Arbitration and Conciliation Act, 1996 woul.....

Tags : Allahabad High Court, Section 29A of the Arbitration and Conciliation Act, 1996, High Court

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Punjab and Haryana HC Rejects Plea for CBI Investigation in Orbit Bus Case(04.12.2015)

Punjab and Haryana HC has turned down plea for CBI investigation in case where a 13-year-old girl died on being allegedly thrown off a bus owned by Or.....

Tags : Punjab and Haryana HC, CBI probe, Orbit Bus Case

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RBI: Repo Rate Remains Unchanged at 7.25%;CRR Unchanged(04.08.2015)

Reserve Bank of India has kept interest rates unchanged. However it has raised hopes of a reduction before the end of the year if the monsoon maintain.....

Tags : RBI, Repo rate

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Del HC: Invoices Having Arbi. Clauses that Show Mutual Acceptance Can be Inferred as Arbi. Agreement(15.07.2024)

Delhi High Court has held that an arbitration agreement may be inferred directly from the invoices on which actions of the parties are based and which.....

Tags : Delhi High Court, Arbitration Agreement, Mutual Acceptance

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Delhi HC Upholds NHAI's Challenge Against Arbitral Tribunal's Fee Fixing Authority(17.05.2022)

Delhi High Court has ruled that the Arbitral Tribunal is permitted to fix its fee, if its appointment is made by way of an ad hoc agreement between th.....

Tags : Delhi High Court, Arbitral Tribunal, Agreement

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Del. HC: Anti-Enforcement Injunc. Can be Granted Against Proc. Threatening Arbitral Process in India(22.08.2024)

Del. HC has held that if proceedings in a foreign Court, or any order/decree passed by a foreign Court, threatens to prejudice or derail arbitral proc.....

Tags : Delhi High Court, Arbitral Process, Anti-Enforcement Injunction

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Delhi HC: Order by Arbitrator Allowing Meeting at Other Place Will Not Change Seat of Arbitration(08.06.2022)

Delhi High Court has held that order passed by the Arbitrator stating that the arbitral proceedings shall be conducted at any other place would not ch.....

Tags : Delhi High Court, Seat of Arbitration, Arbitral Order

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SC: Even if Arbitral Tribunal Becomes Functus Officio, Clarification on Award Can be Issued(19.12.2024)

Supreme Court has observed that even if after passing an award the Arbitral Tribunal becomes functus officio, it would still have the jurisdiction of .....

Tags : Supreme Court, Arbitral Tribunal, Functus Officio

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Delhi HC: Stamp Duty Insufficiency on Arbitration Agreement is Jurisdictional Issue U/S 16 A&C Act(26.04.2022)

Delhi High Court has ruled that the sufficiency of the stamp duty on the arbitration agreement is a jurisdictional issue under Section 16 of the Arbit.....

Tags : Delhi High Court, stamp duty, arbitration agreement, Section 16, Arbitration and Conciliation Act, 1996

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Bom. HC: Can’t Evict Tenants Under Arbitration Act if Occupying Premises Falling under DA(03.04.2025)

Bombay HC has observed that tenants occupying premises that fall under Development Agreement cannot be evicted under Section 9 of the Arbitration and .....

Tags : Bombay High Court, Arbitration Act, Development Agreement

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Delhi HC: Order Terminating Arbitral Proceedings Without Issuing Show Cause Notice Is Unsustainable(12.05.2022)

Delhi High Court has ruled that the Arbitral Tribunal's abrupt issuance of orders terminating arbitral proceedings under Section 25 (a) of the Arbitra.....

Tags : Delhi High Court, Arbitration and Conciliation Act, 1996, unsustainable, Section 25 (a)

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Madras HC: Arbitral Award Rendered Mechanically, Remits Matter Back To Arbitrator(20.05.2022)

Madras High Court while remitting back the matters has ruled that an arbitral award rendered by the District Collector awarding a lower value to the l.....

Tags : Madras High Court, Arbitration, National Highway Act, Arbitral Award

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Karnataka HC: Executing Court Cannot Modify Arbitral Award on the Basis of Memo(10.06.2022)

Karnataka High Court has held that in absence of an application filed under Section 33 of the Arbitration and Conciliation Act, 1996 for correction of.....

Tags : Karnataka High Court, Arbitral Award, Memo

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J&K HC: Can Set Aside an Award Passed by Ineligible Arbitrator(24.12.2024)

Jammu and Kashmir High Court has held that under section 34 of the Arbitration and Conciliation Act, 1996, an award passed by an ineligible arbitrator.....

Tags : J&K High Court, Ineligible Arbitrator, Set Aside

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Bombay HC: No Bar on Court Exercising Jurisdiction Even When Application U/S 7 of IBC is Filed(27.04.2022)

Bombay High Court has ruled that since application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is filed, which is pending for consider.....

Tags : Bombay High Court, Section 7, Insolvency and Bankruptcy Code, 2016, Section 11, Arbitration and Conciliation Act, 1996

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Supreme Court of Singapore Sets Aside Arbitral Award Passed by Tribunal Presided Over by Ex-CJI(10.04.2025)

Supreme Court of Singapore has set aside an arbitral award passed by the tribunal presided over by former CJI Dipak Mishra on the grounds that paralle.....

Tags : Singapore Supreme Court, Arbitral Award, Parallel Awards

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Bom. HC: Change in Social Policy After Change in Government is Not per se Arbitrary(22.06.2023)

Bombay High Court has held that a change in social policy followed by a change in government is part of the democratic process and a change in impleme.....

Tags : Bombay High Court, Social Policy, Government, Arbitrary

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HP HC: No Application of Section 29A of A&C Act on Proceedings Commencing before 2015 Amendment Act(08.11.2024)

Himachal Pradesh High Court has affirmed that Section 29A of Arbitration and Conciliation Act, 1996 shall not apply on arbitration proceedings that co.....

Tags : Himachal Pradesh HC, 2015 Amendment Act, Arbitration Proceedings

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SC: High Court’s interference in Arbitral Proceedings Permissible Only if Order Perverse(06.01.2025)

Supreme Court has stated that High Court’s interference in Arbitral Proceedings in exercise of its Writ Jurisdiction under Article 226 or 227 of Const.....

Tags : Supreme Court, Arbitral Proceedings, Writ Jurisdiction

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Madras HC: Section 34 Proceedings Are Summary in Nature; Does Not Permit Additional Evidence(29.04.2022)

Madras High Court has ruled that the challenge proceedings under Section 34 of the Arbitration and Conciliation Act, 1996 are summary in nature, hence.....

Tags : Madras High Court, Section 34, Arbitration and Conciliation Act, 1996, arbitral tribunal

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Paytm Payments Bank Receives Final Approval From RBI(04.01.2017)

Reserve Bank of India (RBI) has given final approval to formally launch Paytm Payments Bank.

Tags : RBI, Paytm Payments Bank

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Delhi HC: In Disputes Relating to MSME Parties, MSMED Act Will Prevail Over Arbitration Act(27.02.2025)

Delhi High Court has observed that in disputes pertaining to a party which is an MSME, MSMED Act, 2006 governing a very specific nature of disputes co.....

Tags : Delhi High Court, MSMED Act, Arbitration Act

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Sikkim HC: If Underlying Contract is Invalid, Arb. Agreement Allows Tribunal to Assume Jurisdiction(15.11.2024)

Sikkim HC has noted that the validity of an arbitration agreement, in the face of the invalidity of the underlying contract, allows the Arbitral Tribu.....

Tags : Sikkim High Court, Arbitration Agreement, Arbitral Tribunal

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SC Sets Aside Ex-Parte Arbitration Awards against UP Government in Sham Arbitration Proceedings(10.01.2025)

Supreme Court has set aside ex-parte arbitration awards passed against U.P. Government on grounds of fraud by litigant who self-appointed/nominated ar.....

Tags : Supreme Court, Arbitration Awards, UP Government

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Delhi HC Interprets Amended Provisions of Arbitration Act(09.01.2017)

Delhi High Court has said that changes made in 2015 to Arbitration Act, under which there is no automatic stay on an award being challenged, would not.....

Tags : Delhi High Court , Arbitration Act, amendment

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Bombay HC: Agreement on Name of Arbitrator Would Not Amount to Waiver of Notice(02.05.2022)

Bombay High Court has observed that simply because the Arbitration agreement provides for the name of the arbitrator, the same would not amount to a w.....

Tags : Bombay High Court, Arbitration and Conciliation Act, 1996, Section 21, Arbitration agreement

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Bom. HC: Termination of Contract without Giving Reasons is Arbitrary and Unreasonable(27.02.2025)

Bom. HC while setting aside a notice issued by the Mumbai Metropolitan Region Development Authority (MMRDA) terminating a tender contract for appointm.....

Tags : Bombay High Court, Termination of Contract, Arbitrary

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RBI Permits FII/RFPI to Invest Up to 30 % in the Equity of Supreme Industries(25.09.2015)

RBI has allowed Foreign Institutional Investors (FII) and Registered Foreing Portfolios Investors (RFPI) to invest up to 30% in equity of Supreme Indu.....

Tags : RBI,FII,RFPI

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Cal. HC: Consolidated Claim from Different Purchase Order Containing Arbitration Clause Not Invalid(18.05.2023)

Calcutta High Court has held that arbitration clauses in different purchase orders that are linked to a single main contract can be treated as a conso.....

Tags : Calcutta High Court, Arbitration, Purchase Orders, Main Contract

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SC: Only Legally Permissible Grounds Should be Included in Petitions & Appeal u/s 34 & 37 of A&C Act(09.07.2024)

SC has observed that bulky and lengthy submissions in arbitral proceedings make arbitral procedure inefficient, unfair and waste Court’s time. It is i.....

Tags : Supreme Court, Arbitral Proceedings, Legally Permissible Grounds

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Yes Bank Board to Meet Tuesday After RBI Directive on Rana Kapoor's Tenure(24.09.2018)

Rana Kapoor, who has been managing director and CEO since Yes Bank's inception in 2004, had sought a three-year extension till August 31, 2021. But, t.....

Tags : RBI

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RBI Directs Banks to Grout ATMs to Wall, Pillar or Floor to Improve Security(17.06.2019)

Reserve Bank of India (RBI) has directed banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed i.....

Tags : RBI, ATM

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P&H HC: Matter Can be Referred to Arbitration Under MSMED Act in Absence of Arbitration Agreement(14.06.2022)

Punjab and Haryana High Court has held that even in the absence of an arbitration agreement between the parties, the matter can be referred to arbitra.....

Tags : Punjab and Haryana High Court, Arbitration, MSMED Act

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Critical RBI Board Meeting Comes to an End After Nine Hours(19.11.2018)

It wasn't immediately clear whether it had come to any conclusions in a dispute with the government over easing liquidity for the financial sector and.....

Tags : RBI

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SC: It is Referral Court’s Duty to Decide Issue of Existence and Validity of Arbitration Agreement(17.05.2023)

Supreme Court has held that it is duty of referral court to conclusively decide issue of existence and validity of an arbitration agreement if the sam.....

Tags : Supreme Court, Arbitration Agreement, Referral Court

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SC: Arbitral Award Suffers from Patent Illegality if Illegality is Apparent on the Face of it(11.05.2023)

Supreme Court has held that an arbitral award could be said to be suffering from “patent illegality” only if it is an illegality apparent on the face .....

Tags : Supreme Court, Award, Illegality, Arbitration

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RBI Grade B Result 2018 After Re-exam for Kerala Candidates, Check Notification here(24.08.2018)

RBI Grade B Result 2018 for Prelims is expected to be delayed as the Reserve Bank of India has decided to organize Re-Exam for candidates of the state.....

Tags : RBI

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SC: Arbitration Award Which Ignores Vital Evidence in Arriving Decision Can be Set Aside(29.07.2021)

Supreme Court has observed that an arbitration award which ignores vital evidence in arriving at its decision or rewrites a contract is liable to be s.....

Tags : Supreme Court, Arbitration Award

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SC: There Cannot Be Two Arbitration Proceedings With Respect To Same Transaction(25.07.2022)

Supreme Court has held that when a dispute has earlier been referred to arbitration and an award was passed on the claims made, then it is rightful to.....

Tags : Supreme Court, Arbitration, Claims

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Bombay HC: Tax Invoices Having Reference to Arbitration, Does not Constitute Arbitration Agreement(13.04.2022)

Bombay High Court has held that acceptance of tax invoices by the opposite party, comprising a reference to arbitration, doesn’t lead to the presumpti.....

Tags : Bombay High Court, tax invoices, arbitration, arbitration agreement

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NCDRC: Presence of Arbitration Clause in Agreement Doesn’t Bar Jurisdiction of Consumer Forum(05.05.2023)

National Consumer Dispute Redressal Commission (NCDRC) has held that consumer court retains the power to handle complaints, even if there is an arbitr.....

Tags : National Consumer Dispute Redressal Commission, Arbitration Clause, Consumer

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RBI: Allow Mobile Registration from Any Bank’s ATM(31.08.2016)

Reserve Bank of India (RBI) has made it mandatory for banks to allow customers to register their mobile numbers through any ATM.

Tags : RBI, ATM

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Supreme Court Says 'No' to Insolvency During Pendency of Proceedings Challenging Arbitral Award(21.08.2018)

Supreme Court has held that an insolvency process cannot be put into operation when there is a pending proceeding challenging the arbitral award.

Tags : Supreme Court, Insolvency, Arbitration

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There must be a voluntary and intentional relinquishment of a right and voluntary choice is essence of waiver(27.08.2019)