News & Insights

In this article, I examine the treatment of immovable property of a partnership firm, in view of various dissolution scenarios.

Stock Appreciation Rights (or ���SARs�۝, as they are more popularly known) have found their way into the board rooms of many companies as a noteworthy model of incentivization. SARs, in layman language, are indicative of a right issued by a company which entitles the right holder to benefit from the appreciation in value of the company on maturity over a fixed period, if any, in cash or in shares or a combination of both.

In a landmark judgement in the case of PASL Wind Solutions Private Limited v. GE Power Conversion India Private Limited[1] (���PASL Case�۝), the Supreme Court on 20.04.2021, has finally settled a gnawing issue confronted by the legal fraternity time and again - that of ���choice of seat of arbitration�۪ between Indian parties. This issue has been hotly debated for several years on account of the conflicting rulings issued by various High Courts and the Supreme Court.

The case revolves around the oppression and mismanagement (���O&M�۝) grievance raised in a company petition filed by Mr. Mittal before the NCLT against Westbridge. Westbridge secured an ex-parte anti-suit injunction against the said proceedings on the grounds that the cause of action arose from the shareholder�۪s agreement between the parties, which contained an arbitration clause and hence the present matter was under the purview of an arbitration agreement.