https://www.taxtmi.com/caselaws?id=767399 The Delhi HC enforced a foreign arbitral award directing payment of EUR 5.5 million from the judgment debtor to the decree holder. The court rejected objections based on alleged FEMA violations (RBI had granted post facto approval) and claims of double recovery from both German liquidator and Indian entity. The HC found the judgment debtor's objections were made in bad faith, as they had full knowledge of prior settlements when entering the consent award. The court noted the settlement agreement contained comprehensive waivers and confirmed no double benefit would result. The judgment debtor was ordered to deposit the award amount (approximately Rs. 52 crores) with the court registry. en-us Wed, 12 Mar 2025 00:00:00 +0530 Tue, 18 Mar 2025 08:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767399 The Delhi HC enforced a foreign arbitral award directing payment of EUR 5.5 million from the judgment debtor to the decree holder. The court rejected objections based on alleged FEMA violations (RBI had granted post facto approval) and claims of double recovery from both German liquidator and Indian entity. The HC found the judgment debtor's objections were made in bad faith, as they had full knowledge of prior settlements when entering the consent award. The court noted the settlement agreement contained comprehensive waivers and confirmed no double benefit would result. The judgment debtor was ordered to deposit the award amount (approximately Rs. 52 crores) with the court registry. Case-Laws Companies Law Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767399