https://www.taxtmi.com/caselaws?id=432589 The HC held that enforcement of a foreign award may be refused on public policy grounds only where it offends a fundamental and non-derogable principle of Indian law; a rectifiable foreign exchange breach or contractual irregularity was insufficient, so enforcement could not be denied on that basis. It further held that the share purchase arrangements were not shown to be unlawful financial assistance under Section 67(2) of the Companies Act, 2013 or void under the Contract Act, as the commercial purpose was exit from investments rather than prohibited financing. The award of damages and interest was also upheld because the tribunal applied reasonable compensation and was entitled to grant interest. en-us Thu, 05 Jan 2023 00:00:00 +0530 Fri, 26 Jun 2026 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432589 The HC held that enforcement of a foreign award may be refused on public policy grounds only where it offends a fundamental and non-derogable principle of Indian law; a rectifiable foreign exchange breach or contractual irregularity was insufficient, so enforcement could not be denied on that basis. It further held that the share purchase arrangements were not shown to be unlawful financial assistance under Section 67(2) of the Companies Act, 2013 or void under the Contract Act, as the commercial purpose was exit from investments rather than prohibited financing. The award of damages and interest was also upheld because the tribunal applied reasonable compensation and was entitled to grant interest. Case-Laws Indian Laws Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432589