Avitel Post Studioz Limited vs HSBC PI Holdings (Mauritius) Limited (Previously Named HPEIF Holdings 1 Limited)

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(SC) 270

PRASHANT KUMAR MISHRA, HRISHIKESH ROY
Avitel Post Studioz Limited – Appellant
Versus
HSBC PI Holdings (Mauritius) Limited (Previously Named HPEIF Holdings 1 Limited) – Respondent

Advocates appeared:
For the Petitioner(s): Mr. Mukul Rohatgi, Sr. Adv. Mr. Vikram Nankani, Sr. Adv. Mr. Shridhar Y. Chitale, Adv. Mr. Sumeet Nankani, Adv. Mr. Karan Bharihoke, Adv. Ms. Manali Singhal, Adv. Mr. Ankur Yadav, AOR
For the Respondent(s): Mr. Neeraj Kishan Kaul, Sr. Adv. Mr. Darius Khambata, Sr. Adv. Mr. Nikhil Sakhardande, Sr. Adv. Mr. Rajendra Barot, Adv. Ms. Priyanka Shetty, Adv. Ms. Sherna Doongaji, Adv. Mr. Ayush Chaddha, Adv. Mr. Dhaval Vora, Adv. Mr. Shanay Shroff, Adv. Mr. Dhruv Sharma, Adv. Mr. Raghav Agarwal, Adv. Ms. Sonali Jain, AOR

ORDER :

1. Delay condoned.

2. Leave granted.

3. Heard Mr. Mukul Rohatgi and Mr. Vikram Nankani, learned senior counsel appearing for the appellants (Award Debtors). Also heard Mr. Neeraj Kishan Kaul and Mr. Darius Khambata, learned senior counsel appearing for the respondent (Award Holder).

4. The challenge in these appeals is to the order dated 25.04.2023 in the Arbitration Petition No. 833 of 2015 and Notice of Motion No. 2475 of 2016 respectively whereunder, the High Court has facilitated the enforcement of the final Award dated 27.09.2014 issued in the SIAC Arbitration No. 088 of 2012. The appellants’ objection to enforcement of the foreign Award, in terms of Section 48 of the Arbitration and Conciliation Act, 1996 (for short “Indian Arbitration Act”)was rejected and the High Court also directed that the order of attachment against the Award Debtors shall continue to operate during the execution proceedings to be undertaken by the respondent. Accordingly, the Award Debtors were called upon to place on record disclosure affidavits as regards their properties.

Facts

5. This case has a chequered history and it is essential to note the background facts for the present challenge.

5.1. The

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2024 Supreme(SC) 270

PRASHANT KUMAR MISHRA, HRISHIKESH ROYAvitel Post Studioz Limited – AppellantVersusHSBC PI Holdings (Mauritius) Limited (Previously Named HPEIF Holdings 1 Limited) – Respondent

Cases Referred (9)

PRASHANT KUMAR MISHRA, HRISHIKESH ROY
Avitel Post Studioz Limited – Appellant
Versus
HSBC PI Holdings (Mauritius) Limited (Previously Named HPEIF Holdings 1 Limited) – Respondent