Arbitration appointment governs share-conversion dispute, shaping insolvency jurisdiction and conversion mechanics in related contracts.
Disputes over the conversion formula for optionally convertible redeemable preference shares following a qualified initial public offering were submitted to arbitration under agreements designating Mumbai and a three-arbitrator tribunal with a Chairperson. Parties disputed entitlement percentages and refund implications; compliance with SEBI Regulations required conversion prior to the QIPO. A related claim that unpaid redemption sums triggered corporate insolvency proceedings was assessed, and the factual record did not establish a contractual default sufficient to invoke the insolvency resolution process. Multiple arbitration agreements between the same parties permit separately constituted proceedings for international and domestic arbitration while retaining the same tribunal members.