https://www.taxtmi.com/caselaws?id=190016 A commercial contract was upheld against challenges of illegality, uncertainty, and arbitration maintainability. The foreign exchange objection failed because the relevant statutory provision did not invalidate an agreement merely because performance might require governmental or Reserve Bank permission, and the resale arrangement was not treated as an unlawful payment mechanism. The uncertainty challenge also failed because "force majeure" and the phrase "if necessary" were capable of being made certain by context and trade usage. A petition under section 20 of the Indian Arbitration Act remained maintainable despite statutory bye-laws, as the Court retained power to decide objections to the arbitration agreement. The contract was also governed by Indian law. en-us Mon, 27 Feb 1961 00:00:00 +0530 Mon, 30 Jun 2025 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190016 A commercial contract was upheld against challenges of illegality, uncertainty, and arbitration maintainability. The foreign exchange objection failed because the relevant statutory provision did not invalidate an agreement merely because performance might require governmental or Reserve Bank permission, and the resale arrangement was not treated as an unlawful payment mechanism. The uncertainty challenge also failed because "force majeure" and the phrase "if necessary" were capable of being made certain by context and trade usage. A petition under section 20 of the Indian Arbitration Act remained maintainable despite statutory bye-laws, as the Court retained power to decide objections to the arbitration agreement. The contract was also governed by Indian law. Case-Laws Indian Laws Mon, 27 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190016