https://www.taxtmi.com/caselaws?id=792528 Section 35 of the Arbitration and Conciliation Act, 1996 gives an arbitral award finality and binding force not only against the parties to the award but also against persons claiming under them. In execution proceedings under Section 36 read with the Code of Civil Procedure, the Court distinguished award execution from ordinary civil decree execution and held that impleadment of constituent shareholder companies can be permissible where the SPV operates as their instrumentality. On the stated facts, the shareholders had formed and managed the SPV, shared its finances, and participated in satisfaction of the award, so they were treated as persons claiming under the award debtor and execution against them was legally sustainable. en-us Thu, 09 Apr 2026 00:00:00 +0530 Sat, 30 May 2026 08:29:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792528 Section 35 of the Arbitration and Conciliation Act, 1996 gives an arbitral award finality and binding force not only against the parties to the award but also against persons claiming under them. In execution proceedings under Section 36 read with the Code of Civil Procedure, the Court distinguished award execution from ordinary civil decree execution and held that impleadment of constituent shareholder companies can be permissible where the SPV operates as their instrumentality. On the stated facts, the shareholders had formed and managed the SPV, shared its finances, and participated in satisfaction of the award, so they were treated as persons claiming under the award debtor and execution against them was legally sustainable. Case-Laws Indian Laws Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792528