International & Domestic Arbitration Specialists

Article on litigation funding

10/Nov/2020, 12:53 PM, Authored by Mr. Hiroo Advani, Ms. Kanika Arora, Mr. Navdeep Dahiya

The appetite for ‘litigation funding’, amongst claimants as well as investors, has never been greater. Over the last decade, this appetite has been pushed to greater lengths and breadths as a result of widening globalisation and liberalisation of funding regimes across jurisdictions. In fact, ‘litigation funding’ is now considered to be the new ‘normal’ for capital infusion for furthering resolution of disputes, in both domestic litigation as well as international arbitration…

Amazon Future Group

10/Nov/2020, 12:49 PM, Authored by Mr. Hiroo Advani, Ms. Kanika Arora

Earlier this year in August, Reliance Retail Ventures Limited (“Reliance”) broke the news that it had entered into a deal for the acquisition of assets of Future Retail Limited (“Future”), with the transaction valuing at approximately USD 3.38 billion. However, with regard to this deal, Amazon announced that the said transaction was contrary to a shareholders’ agreement that existed between the promoters of the Future Group and therefore, violated the same. Whilst Amazon proceeded to invoke arbitration proceedings before the Singapore International Arbitration Centre (“SIAC”), in view of this transaction between Reliance and Future, it also sought for interim relief before an emergency arbitrator appointed under the SIAC Rules.

Whether to challenge or not

21/Oct/2020, 11:14 AM, Authored by Hiroo Advani & Tariq Khan

Finally, a decade old dispute between the Vodafone Group and India has come to an end. The Permanent Court of Arbitration has unanimously decided against India’s retrospective demand of Rs 22,100 crore in an arbitration initiated under the India-Netherlands Bilateral Investment Treaty (BIT) and held that Vodafone is entitled to fair and equitable treatment under the BIT. The arbitral award is not out in the public domain however, this article gives a brief history of this interesting tax dispute and discusses the probable implications of the Vodafone ruling on foreign investments in India…

Vedanta Judgment Breaks the Glass

21/Oct/2020, 11:07 AM, Authored by Hiroo Advani & Tariq Khan

The enforcement of foreign arbitral awards in India is witnessing a promising shift to be in consonance with the framework laid down by the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, famously coined as the New York Convention. Inspite of commendable endeavors to make India a leading arbitration hub by the legislature, the regressive approach adopted by the Indian courts in enforcement of foreign awards, in judgments like NAFED v Alimenta S.A. and Venture Global Eng. LLC v. Tech Mahindra is indubitably acting as a huge stumbling block…