https://www.taxtmi.com/caselaws?id=761849 The Bombay HC dismissed a petition seeking enforcement of three foreign arbitral awards dated 2006-2008. While the court held that common petitions for recognition and execution are maintainable per Vedanta Limited, it found the petition barred by limitation under Article 137 of the Limitation Act as it was filed in 2018, beyond the three-year period. The court also refused enforcement on public policy grounds, finding the underlying transaction required RBI approval under FEMA which was never obtained, and that the arbitral proceedings violated natural justice principles by not allowing proper cross-examination. The court struck out non-signatory respondents from the proceedings. en-us Thu, 24 Oct 2024 00:00:00 +0530 Mon, 18 Nov 2024 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761849 The Bombay HC dismissed a petition seeking enforcement of three foreign arbitral awards dated 2006-2008. While the court held that common petitions for recognition and execution are maintainable per Vedanta Limited, it found the petition barred by limitation under Article 137 of the Limitation Act as it was filed in 2018, beyond the three-year period. The court also refused enforcement on public policy grounds, finding the underlying transaction required RBI approval under FEMA which was never obtained, and that the arbitral proceedings violated natural justice principles by not allowing proper cross-examination. The court struck out non-signatory respondents from the proceedings. Case-Laws FEMA Thu, 24 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761849