Supreme Court of India
Venture Global Engineering Llc v. Tech Mahindra Ltd. & Another Etc.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
In view of the above findings, this Court holds that the Petitioner has made out valid and sufficient grounds to set aside the impugned award and hence, the award is liable to be set aside.
Judgment, page 58
From the headnote
Arbitration and Conciliation Act, 1996 - s. 34 - Arbitral award - Joint Venture between two companies for incorporating Joint Venture Company wherein entire shareholding of JVC to be held between two collaborating companies equally - In event of default, non-defaulting shareholder to purchase the defaulting shareholders shares at book value - Appellant company declared bankrupt - Jn vocation of arbitration clause -Award passed in favour of non-defaulting company, directing the defaulting company to transfer their 50% shares of JVC to non-defaulting company at book value - Rounds of litigation
Authorities it was built on
- 2003 Oil & Natural Gas Corporation Ltd. v. Saw Pipes Ltd.
- 2012 Bharat Aluminium Co. v. Kaiser Aluminium Technical Service, Inc.
- 1993 Renusagar Power Co. Ltd. Etc. v. General Electric Co. Etc.
- 2002 Bhatia International v. Bulk Trading S.A. and Anr.
- 2008 Venture Global Engineering v. Satyam Computer Services Ltd. and Anr.
- 2014 Oil & Natural Gas Corporation. Ltd. v. Western Geco International Ltd.
- 2003 Ram Chandra Singh v. Savitri Devi and Ors.
- 1973 Masud Khan v. State of Uttar Pradesh
- 2010 Venture Global Engineering v. Satyam Computer Services Ltd. and Another.
- 1977 Onkar Nath & Ors. v. The Delhi Administration
Where later benches applied it
Of those, 1 referred to
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