https://www.taxtmi.com/caselaws?id=790992 A foreign arbitral award granting compensatory damages for breach of share purchase arrangements was considered enforceable in India because it did not require transfer of shares or payment of consideration for any equity transfer. The RBI clarified that payment of such damages is a current account transaction under the foreign exchange framework and does not require specific approval or permission. On that basis, no legal impediment was found under the arbitration enforcement regime, and RBI approval was not treated as a precondition to enforcement on the facts presented. en-us Tue, 26 Aug 2025 00:00:00 +0530 Tue, 05 May 2026 09:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790992 A foreign arbitral award granting compensatory damages for breach of share purchase arrangements was considered enforceable in India because it did not require transfer of shares or payment of consideration for any equity transfer. The RBI clarified that payment of such damages is a current account transaction under the foreign exchange framework and does not require specific approval or permission. On that basis, no legal impediment was found under the arbitration enforcement regime, and RBI approval was not treated as a precondition to enforcement on the facts presented. Case-Laws Indian Laws Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790992