Court Upholds Foreign Award, Rejects Unitech's FEMA Violation Defense Over Keepwell Agreement Misrepresentations.

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....Enforcement of a foreign award - violation of FEMA and Regulations made thereunder - if Cruz City has been induced to make an investment on a false assurance of the Keepwell Agreement being legal and valid, Unitech must bear the consequences of violating the provisions of Law, but cannot be permitted to escape their liability under the Award. - HC....