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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Coercion and economic duress - The Respondent’s claim fits in the description of an attempt to initiate “ex facie meritless, frivolous and dishonest litigation” - There were no allegations of coercion or economic duress compelling SPML to withdraw any pending claims under the subject contract as a condition for the return of the Bank Guarantees. - High Court has committed an error in allowing the application under Section 11(6) of the Act. High Court ought to have examined the issue of the final settlement of disputes. - SC
Coercion and economic duress - The Respondent’s claim fits in the description of an attempt to initiate “ex facie meritless, frivolous and dishonest litigation” - There were no allegations of coercion or economic duress compelling SPML to withdraw any pending claims under the subject contract as a condition for the return of the Bank Guarantees. - High Court has committed an error in allowing the application under Section 11(6) of the Act. High Court ought to have examined the issue of the final settlement of disputes. - SC
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TaxTMI 
TaxTMI 
