Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The doctrine of forum non conveniens was applied to determine the maintainability of a petition u/s 11 of the Arbitration and Conciliation Act, 1996. The Court held that Part I of the Act is applicable only where the arbitration takes place in India or the law governing the arbitration agreement is Indian law. For agreements executed after 06.09.2012, if the seat of arbitration is outside India, Part I is inapplicable. For pre-06.09.2012 agreements, Part I is inapplicable if parties have excluded its application by designating a foreign seat or governing law. The seat cannot be determined by the 'Closest Connection Test' but by express designation or significant indicia. Where multiple possible seats exist, forum non conveniens determines the appropriate seat considering parties' intentions and convenience. The petition was dismissed as the seat was not in India, nor was the agreement governed by Indian law.
The doctrine of forum non conveniens was applied to determine the maintainability of a petition u/s 11 of the Arbitration and Conciliation Act, 1996. The Court held that Part I of the Act is applicable only where the arbitration takes place in India or the law governing the arbitration agreement is Indian law. For agreements executed after 06.09.2012, if the seat of arbitration is outside India, Part I is inapplicable. For pre-06.09.2012 agreements, Part I is inapplicable if parties have excluded its application by designating a foreign seat or governing law. The seat cannot be determined by the 'Closest Connection Test' but by express designation or significant indicia. Where multiple possible seats exist, forum non conveniens determines the appropriate seat considering parties' intentions and convenience. The petition was dismissed as the seat was not in India, nor was the agreement governed by Indian law.
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