Introduction:
Sanjiv Prakash v. Seema Kukreja &
Ors.
1, the Delhi High Court has
reiterated that novation of an agreement would necessarily result
in destruction of the arbitration clause contained therein. In this
regard, it was observed that an arbitration agreement being a
creation of an agreement may be destroyed by agreement.
Facts of the case:
Respondent No. 3 had incorporated a company in 1971, under the
name of Asian Films Laboratories Private Limited, which was
subsequently renamed as ANI Media Private Limited in 1997
( Company ). The shareholders of the
said Company were Respondent No. 3 s son
( Petitioner ) and his daughter and wife
( Respondent No. 1 and
Westend Heights at
New Town, Begu, Bengaluru (
Residential Project).
The entire area of New Town comprised 80 acres of which the
Residential Project was being developed in an area admeasuring 27.5
acres. The Residential Project comprised four blocks, totalling
1980 units, spread across 19 towers. The brochure of the first
respondent
3 not only advertised the nature of
the Residential Project but also made certain representations
regarding the amenities to be provided by the developers. Relying
inter alia on these representations, flat purchasers
entered into Apartment Buyers Agreement (
ABA) with
the developers. Clause 11(a) of the ABA stipulated that the
developers would endeavour to complete construction within a period
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This guide to Bermuda s private client sector includes
commentary on tax, trusts, foundations and private wealth
structures used within the jurisdiction, including charitable or
philanthropic structures. It also looks at capital gains,
withholding and wealth tax rules along with issues relating to real
property, immigration, succession, making a will and estate
planning considerations, legislative changes and disclosure
obligations.
Which factors bring an individual within the scope of tax on
income and capital gains?
Bermuda does not impose income or capital gains taxes.
What are the taxes and rates of tax to which an individual is
This guide to Bermuda's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction, including charitable.
To print this article, all you need is to be registered or login on Mondaq.com. ExpoMembers, the virtual fair organized by the
Ecuadorian-German Chamber of Industries and Commerce (AHK), took
place in February. Some of our lawyers have been able to
participate in the event, and Idealex has echoed the news.
Andrea Moya- partner of the firm and specialist in International
Tax Law, Rafael Serrano- senior associate and director of the Data
Protection area, and Marta Villagómez- an associate
specialist in the Labor Law area, spoke from different perspectives
of Law at the opening of the event on How to do business in