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Facts of the case In present case of BGS SGS SOMA JV v NHPC ltd., the parties entered into an agreement; one of the clauses in an agreement provided for dispute resolution through Arbitration. With respect to place of Arbitration, clause provided that, Arbitration proceedings shall be held at New Delhi/Faridabad. One of the issues before three Judge bench of Supreme Court comprising of Justice R.F Nariman, Justice Aniruddha Bose and Justice V. Ramasubramanian was whether the “seat” of arbitration proceedings is New Delhi or Faridabad. On 16 May 2011, due to loss suffered by petitioner - notice of Arbitration was issued to the Respondent seeking compensation. A three-member Arbitral Tribunal was constituted; between August 2011 and August 2016, seventy-one sittings took place at New Delhi. Learned Additional Solicitor General, Smt. Maninder Acharya argued that clause did not expressly state that either New Delhi or Faridabad was to be the seat of the Arbitral Tribunal. The fact that...

Right to pension cannot be taken away pending proceedings: Apex Court According to Supreme Court, pension is hard earned benefit which accrues to an employee and is in the nature of “property”. Observing that gratuity and pension are hard earned benefits of an employee and right to receive pension is in the nature of “property”, the Supreme Court has held that this right cannot be taken away from a government employee pending departmental or criminal proceedings. “It is an accepted position that gratuity and pension are not the bounties. An employee earns these benefits by dint of his long, continuous, faithful and un-blemished service. It is thus hard earned benefit which accrues to an employee and is in the nature of “property”. “This right to property cannot be taken away without the due process of law as per the provisions of Article 300 A of the Constitution of India,” a bench of justices K.S Radhakrishnan and A.K Sikri said. The court passed the judgement while dismissing the app...

Tirupati-based small-scale industrialist filed the country’s 1 st  personal insolvency petition before the  National Company Law Tribunal  (NCLT) at its Amaravati bench in Hyderabad on Monday when the  Insolvency & Bankruptcy Code  (IBC) for personal guarantors to corporate debtors came into force. The petition was filed by 60-year-old O V Ramana, former member of  Tirumala Tirupati Devasthanams  (TTD), under Section 94 (1) of the  Insolvency & Bankruptcy Code , 2016, to get out of a prolonged legal battle with the banks in the Debt Recovery Tribunal. In his petition (copy of which is with News Agency), Ramana said he had stood personal guarantor for 5 firms – Nithin Grains & Mills Pvt Ltd, Nithin Proteins Pvt Ltd, Nithin Nutritions Pvt Ltd, Ramanasree Consumer Products Pvt Ltd & Ramana Sri Logistics Pvt Ltd, for loans taken from  Bank of India  for business operations. “The outstanding debt as of now for the bank is...