January 20, 2021

Petitions filed in Supreme Court for seeking direction for Contempt of Court proceedings against RBI Governor, others

Several pleas had been filed before the Hon’ble Supreme Court seeking its direction for initiation of Contempt of Court proceedings & punishing Reserve Bank of India Governor Shaktikanta Das, & others for allegedly &willfully violating the Supreme Court’s the order/directions of September 3, 2020. The Supreme Court had passed the order on the loan moratorium case in Sept 2020 & said those accounts that have not been declared non-performing assets (NPAs) as of Aug 31, 2020, cannot be declared as such until further notice. The petitioners — Gorakh Pandurang Nawade, Suryakant Prabhakar Pawar, Pritam Sengupta, & Shanti Jewellers — had filed their respective […]
January 20, 2021

Supreme Court opines that the ground that allegations of fraud are not arbitrable as a wholly archaic view, deserves to be discarded

A three-Judge Bench of the Supreme Court comprising of Justice Dr. DY Chandrachud, Justice Indu Malhotra, and Justice Indira Banerjee in the case of M/s. N.N. Global Mercantile Pvt. Ltd. v.  M/s. Indo Unique Flame Ltd. & Others, in the exercise of its civil appellate jurisdiction, has held that the ground- that allegations of fraud are not arbitrable as a wholly archaic view, which has become obsolete and deserves to be discarded. The Bench observed while holding rightly that the allegations of fraud concerning the invocation of the Bank Guarantee are arbitrable since it arises out of disputes between parties inter-se and is not in the realm of […]