Nagpur: The Supreme Court on Tuesday confirmed an arbitration award worth $ 12.5 million, approximately RS100 Crore, was passed by arbitrators in the US against Arun City Entrepreneurs Upadhyaya and the limited Gemini Bay transcription.
The verdict confirmed his responsibility to pay the number of companies based in Hong Kong.
Sarap Arbitrator, International Arbitration Court, Kansas, Missouri (US), upholds awards of around $ 8 million in arbitration disputes against Upadhyaya and the company on March 28, 2010, in connection with their medical transcription business (MT).
Limited Hong Kong-based integrated sales service (ISS), through Deven Chauhan advisers, has submitted cases in the district and court session here, under the ACT Arbitration and Indian conciliation, 1996, for the implementation of the US Tribunal command in April 2010.
Its application is permitted by Former Judge Judge KK Sonawane on September 4, 2010, which was reported in detail by TOI.
When the order was challenged on the Nagpur bench of the Bombay High Court, the single judge decided to support Upadhyaya, deciding that he was a non-signing of the original agreement.
However, this was canceled by the HC division bench from the former chairman of Judge Bhushan Dharmadhikari and Justice Atul Chandurkar, holding that even non-signatories can be responsible.
Upadhyaya and the Gemini Bay transcription then challenged the decision in the APEX court through the Senior Harish Salve Advisor, KV Vishwanathan and others was in appeal.
Iss appeared through senior advisers Arif Bookwala, Chauhan and others.
“There was no doubt that was because of the upadhyaya and other intrigue, as found by the US Tribunal, ISS lost the commission legally because it was under the representative agreement.
This is so, there is no doubt that, in the facts as evidenced before the Arbitration Court , Actual losses can be said to have been caused by the ISS, “the SC division bench consisting of Rohinton Judge Fali Nariman and Bhushan Gavai was held.
While rejecting upadhayay and appealing the company, the top court clarified that in any case, the damage so that it was given to the facts of this case it could not even be said to be “shocking conscience” to hold the soil “the basic idea of ​​justice”.
While quoting the ruling of the US Federal Court, the ISS in the original case in a city-based court has argued that the upadhyaya and four companies – DMC management and Gemini Bay transcription, both are based in Nagpur, Gemini Bay Consulting in the British Virgin Islands, and Global DMC in Mauritius – misbreaking their representative contracts with them.
In addition to upadhyaya, the applicant also accused the Managing Director of Rattan Pathak to create Gemini Bay Corporation to get out of the agreement that has occurred since 2000.
The ISS is used between 10-20% of sales from prospective customers, this hotel is guaranteed for DMC medical transcription.
business.
ISS shows that India signifies ‘the United Nations Convention on the Recognition and Enforcement of Foreign Arbitration Awards (Uncitral)’, which conducts state treasures to recognize and enforce arbitration awards made in foreign jurisdictions from member countries.
In addition, the Arbitration of India and the conciliation recognizes this convention, he said.