https://www.taxtmi.com/caselaws?id=198304 The High Court modified an arbitration award, holding all respondents jointly liable for outstanding dues. The Court found that respondent No.1, a Private Limited Company, was potentially a glorified partnership used to avoid liability, emphasizing the need for full disclosure. The Tribunal's failure to consider material facts and respondent No.2's statement to SEBI led to an incorrect absolution of liability for respondent Nos.2 to 5. The judgment stresses the importance of transparency in arbitration, proper assessment of corporate structures, and accountability to ensure fairness in legal proceedings. en-us Mon, 02 May 2005 00:00:00 +0530 Mon, 29 Jan 2018 11:10:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198304 The High Court modified an arbitration award, holding all respondents jointly liable for outstanding dues. The Court found that respondent No.1, a Private Limited Company, was potentially a glorified partnership used to avoid liability, emphasizing the need for full disclosure. The Tribunal's failure to consider material facts and respondent No.2's statement to SEBI led to an incorrect absolution of liability for respondent Nos.2 to 5. The judgment stresses the importance of transparency in arbitration, proper assessment of corporate structures, and accountability to ensure fairness in legal proceedings. Case-Laws Companies Law Mon, 02 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198304