Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
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The Delhi High Court considered the validity of an arbitral award and the jurisdiction of the Facilitation Council u/s 18 of the MSME Act. The key issue was the territorial jurisdiction of the Court to entertain the petition due to an exclusive jurisdiction clause in the agreement. The Court found no exclusive jurisdiction clause in the agreement, and as the arbitration proceedings took place in Pathankot, the seat of arbitration was deemed to be there. Citing precedents, the Court held that without an exclusive jurisdiction clause, the Court lacked jurisdiction, leading to the dismissal of the petition.
The Delhi High Court considered the validity of an arbitral award and the jurisdiction of the Facilitation Council u/s 18 of the MSME Act. The key issue was the territorial jurisdiction of the Court to entertain the petition due to an exclusive jurisdiction clause in the agreement. The Court found no exclusive jurisdiction clause in the agreement, and as the arbitration proceedings took place in Pathankot, the seat of arbitration was deemed to be there. Citing precedents, the Court held that without an exclusive jurisdiction clause, the Court lacked jurisdiction, leading to the dismissal of the petition.
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