https://www.taxtmi.com/caselaws?id=433973 Enforcement of a foreign arbitral award was examined against the narrow grounds under Section 48 of the Arbitration and Conciliation Act, 1996, including public policy, fraud, inability to present the case, and FEMA-based valuation objections. The court treated the lender's shareholding and management conditions as relevant to public policy, found that non-production of vital documents and non-compliance with procedural directions prevented an effective defence, and viewed later-discovered material as indicating suppression of facts amounting to fraud. It also held that the alleged FEMA breach, in the factual setting found, involved undervaluation and foreign exchange loss and was contrary to the fundamental policy of Indian law. Enforcement was refused. en-us Fri, 03 Feb 2023 00:00:00 +0530 Wed, 15 Feb 2023 08:52:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433973 Enforcement of a foreign arbitral award was examined against the narrow grounds under Section 48 of the Arbitration and Conciliation Act, 1996, including public policy, fraud, inability to present the case, and FEMA-based valuation objections. The court treated the lender's shareholding and management conditions as relevant to public policy, found that non-production of vital documents and non-compliance with procedural directions prevented an effective defence, and viewed later-discovered material as indicating suppression of facts amounting to fraud. It also held that the alleged FEMA breach, in the factual setting found, involved undervaluation and foreign exchange loss and was contrary to the fundamental policy of Indian law. Enforcement was refused. Case-Laws Companies Law Fri, 03 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433973