https://www.taxtmi.com/highlights?id=64309 Enforceability of part of the Foreign Award - A significant aspect of the Foreign Award is that it does not provide for a setoff. - f a set-off that enured to the benefit of TAQA had been provided for in the Foreign Award and recognition or enforcement was sought without reckoning such set-off, such petition may have fallen foul of public policy. While the Company has affirmed an affidavit indicating that amounts awarded to it under the Foreign Award are for the benefit of TAQA, such arrangements between the Company and TAQA cannot be recognised and given effect to in these proceedings. - HC en-us Tue, 28 Jun 2022 07:42:43 +0530 Tue, 28 Jun 2022 07:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64309 Enforceability of part of the Foreign Award - A significant aspect of the Foreign Award is that it does not provide for a setoff. - f a set-off that enured to the benefit of TAQA had been provided for in the Foreign Award and recognition or enforcement was sought without reckoning such set-off, such petition may have fallen foul of public policy. While the Company has affirmed an affidavit indicating that amounts awarded to it under the Foreign Award are for the benefit of TAQA, such arrangements between the Company and TAQA cannot be recognised and given effect to in these proceedings. - HC Highlights Indian Laws Tue, 28 Jun 2022 07:42:43 +0530 https://www.taxtmi.com/highlights?id=64309