2020-TIOLCORP-17-SC-MISC-LB

Cognizance For Extension Of Limitation

Whether in wake of COVID-19 pandemic, lockdown ordered by Governement and resultant difficulties being faced by lawyers and litigants, it is apporpriate to extend limitation period for statutory provisions u/s 138 of Negotiable Instruments Act & sec 29A of Arbitration & Concilliation Act - YES : SC

- Directions Issued: SUPREME COURT OF INDIA

2020-TIOLCORP-59-HC-MUM-MISC

Banyan Tree Growth Capital Llc Vs Axiom Cordages Ltd

Whether parties on whom an obligation is cast under put option deed, to pay requisite stamp duty has consistently taken position that put option deed is adequately stamped cannot later on challenge their own action and conduct and claim deed is not enforceable being inadequately stamped - YES : HC

Whether even though put option deed is not a contract in derivatives however it cannot be held that put option deed is not permitted by law or is against public policy - YES : HC

Whether enforcement of foreign award can be declined on ground of violation of a provision of FEMA - NO : HC

Whether foreign arbitral award is contrary to fundamental policy of Indian law - NO: HC

Whether respondents having accepted investment from foreign party should be fair and honest in their dealing with it and must give legitimate exit as provided for in Put Option Deed - YES: HC

- Order passed in favour of petitioner: BOMBAY HIGH COURT