Contractual Disputes

Arbitration Clauses v. NCLT’s Jurisdiction in Shareholder Disputes: Legal Position in India

Summary: Indian courts have consistently held that statutory remedies under company law cannot be overridden by private contracts. While arbitration is encouraged as an efficient dispute resolution mechanism under the Arbitration and Conciliation Act, 1996, NCLT’s jurisdiction in corporate governance and minority protection remains intact. This note examines the statutory framework, doctrinal foundations, and leading judicial precedents governing the relationship between arbitration clauses in shareholder agreements and oppression and mismanagement proceedings.Continue Reading Arbitration Clauses v. NCLT’s Jurisdiction in Shareholder Disputes: Legal Position in India

Disputes

Introduction

The Government of India (“Government”) had announced a one-time voluntary settlement scheme through the Union Budget 2023-24 to settle contractual disputes involving the Government of India or its undertakings. This voluntary settlement process would also be applicable to disputes that have resulted in arbitral awards or court decrees or court orders upholding arbitral awards (hereinafter collectively referred to as “Award”) under challenge. The scheme is called Vivad se Vishwas II (Contractual Disputes). A draft scheme was published for circulation and was open for public comments till March 8, 2023.Continue Reading Execution meeting spirit of the text will determine success of Vivad se Vishwas II