https://www.taxtmi.com/caselaws?id=457618 An award holder enforcing a foreign award may proceed against Indian assets alleged to be beneficially owned by the award debtor, where the materials show a prima facie basis for receivables, shareholding, or partnership interests. Threshold objections under the Benami Act do not defeat the claim where the proceeding is by an executing creditor, not a person asserting real ownership against an ostensible holder. Non-compliance with Section 89 of the Companies Act does not bar execution where the award holder is neither the declarant nor a person claiming through the beneficial owner. Multiple execution petitions are not abusive where earlier efforts yielded no realization and the disputed questions require evidence. en-us Wed, 02 Mar 2022 00:00:00 +0530 Tue, 24 Sep 2024 19:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457618 An award holder enforcing a foreign award may proceed against Indian assets alleged to be beneficially owned by the award debtor, where the materials show a prima facie basis for receivables, shareholding, or partnership interests. Threshold objections under the Benami Act do not defeat the claim where the proceeding is by an executing creditor, not a person asserting real ownership against an ostensible holder. Non-compliance with Section 89 of the Companies Act does not bar execution where the award holder is neither the declarant nor a person claiming through the beneficial owner. Multiple execution petitions are not abusive where earlier efforts yielded no realization and the disputed questions require evidence. Case-Laws Indian Laws Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457618