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Tuesday, May 4, 2021 Two Indian parties are entitled to elect a seat of arbitration outside India; The expression “International Commercial Arbitration” in Part I of the Arbitration Act is party-centric, whereas, when used in the context of Part II signifies a place-centric approach; Resultantly, a foreign seated arbitration between two Indian parties would qualify as “International Commercial Arbitration” under Part II of the Arbitration Act, and enforcement of a foreign award arising thereunder will have to be filed before the High Court; Two Indian parties are entitled to...

TVS now holds 100% of the paid-up equity share capital of Mahindra First Choice Services. Mahindra Holdings Ltd. (MHL) has completed the process of transferring its entire stake in Mahindra First Choice Services (MFCS) for Rs. 21.5 crore, as well as its stake in Auto Digitech Private Ltd. (ADPL) for Rs. 13.5 crore to TVS Automobile Solutions Private Ltd. (TASL). As per a regulatory filing, MFCS and ADPL are no longer the subsidiaries of MHL. TASL now holds 100% of the paid-up equity share capital of MFCS. TVS Automobile Solutions operates India’s largest independent workshop brand under the...

M&M sells Mahindra First Choice Services for ₹21.5 cr to TVS February 25, 2021 × Mahindra Holdings Ltd, a wholly owned subsidiary of Mahindra & Mahindra, on Thursday said that it has sold its entire stake in Mahindra First Choice Services (MFCS) for ₹21.5 crore, as well as its entire stake in MFCS’ subsidiary, Auto Digitech Private Limited, for ₹13.5 crore, to TVS Automobile Solutions Private Limited. MFCS is involved in the business of servicing multi-brand car and two-wheelers. Mahindra Holdings had on November 26, 2020, agreed to sell its entire stake aggregating 100 per cent of t...

Introduction: Recognising that an arbitration agreement between parties is an agreement independent of the substantive contract, the Delhi High Court in Dholi Spintex Pvt. Ltd. v. Louis Dreyfus Company India Pvt. Ltd. 1 has held that two Indian parties can choose a foreign law as the law governing the arbitration between them. The Court has also reiterated the legal position on limited interference by Courts in international arbitrations. Factual Background: Plaintiff") had entered into a contract with Louis Dreyfus Company India Pvt. Ltd. (the " Defendant") for supply of 600 metric tonnes o...

indexmarketsresearchFebruary 15, 2021 A new business intelligence report title “Global  Food Grade Cellulose Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)” is designed covering micro level of analysis by manufacturers and key business segments.According to our latest research, the global Food Grade Cellulose size is estim ated to be xx million in 2021 from  USD xx million in 2020, with a change of XX% between 2020 and 2021. The global Food Grade Cellulose market size is expected to grow at a CA...