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G.S.KULKARNI
Banyan Tree Growth Capital L L C – Appellant
Versus
Axiom Cordages Limited (previously Known As Axion Impex International Ltd ) – Respondent
| Table of Content |
|---|
| 1. overview of the parties and their business structures. (Para 2 , 3 , 4 , 5) |
| 2. details of agreements leading to the put option. (Para 6 , 7 , 8) |
| 3. attempts made for the exit by banyan tree. (Para 10 , 11) |
| 4. judicial orders regarding status quo during proceedings. (Para 15 , 18 , 19) |
| 5. contentions against enforcement based on alleged illegality. (Para 20 , 21 , 22) |
| 6. court's analysis of the validity of the put option deed. (Para 24 , 25 , 26 , 36 , 37) |
| 7. grounds for rejection of enforcement of the award. (Para 38 , 39) |
| 8. discussion on public policy and enforcement of foreign awards. (Para 94 , 95 , 96) |
| 9. conclusion and orders for enforcement of foreign awards. (Para 97 , 100 , 102 , 104) |
JUDGMENT
G S Kulkarni, J. - Commercial Arbitration Petition No. 476 Of 2019
1. This petition under Sections 47 to 49 of the Arbitration and Conciliation Act, 1996 (for short "the A&C Act"), prays for enforcement of an arbitral award titled as "Put Award" dated 15 January 2019 (as subsequently corrected), of the Singapore International Arbitration Centre (SIAC) Arbitration No. 37 of 2016, as a decree of this court and for prayers consequential to the enforcement of the award.
2. Factu
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