News & Insights

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.

The word ���Decree�۪ (1) often appears along with the word ���Judgment�۪ in Civil Courts, exercising the original jurisdiction. A Decree is passed after the final adjudication of disputes between the parties and, the law governing the aspect of Execution of Decree is prescribed under the Civil Procedure Code, 1908 (���Code�۪) from Sections 36 to 74, 82, 135 and Order XXI (Rules 1 to 106) of the Code.

Following the overhaul of the foreign investment regime through introduction of the non-debt instrument rules, Ministry of Finance also attempted to overhaul the overseas investment regime.