Lawstreet Journal

Rakesh Gangwal's petition for enforcement of an arbitral award by a London court dismissed by the Delhi High Court

Lawstreet Journal 11 Oct 2021 8:35pm

Image courtesy: Lawstreet Journal Judiciary Rakesh Gangwal's petition for enforcement of an arbitral award by a London court dismissed by the Delhi High Court

The Delhi High Court refused to hear a petition filed by Indigo co-promoter Rakesh Gangwal seeking to enforce an arbitration award issued by the London Court of International Arbitration on Friday (October 8, 2021). 

The court ruled that the directions sought by Gangwal amounted to enforcement and could not be granted at this time. The court ordered Gangwal to pay a total of $25,000 in damages.

Meanwhile, InterGlobe Enterprises Private Ltd (IGE) co-promoter Rahul Bhatia's counsel has stated that Indigo will appeal the arbitral award.

Harish Salve representing Gangwal said, “I have an enforceable award. Award asks for both sides should jointly take action to remove restrictions under Articles of Association.”

"Seeking to requisition for an EGM, we are inviting draft resolutions. We have to agree to the term of the resolutions that have to be passed. If they do not challenge this verdict, at least this process can be finished. There is no tearing hurry, let us begin this exercise," he added.

Senior advocate Abhishek Manu Singhvi, representing Bhatia, stated, "Rakesh Gangwal is seeking to enforce the award in this fashion. He is trying to pay the damages of merely $25,000, we’ll accept it. We have 90 days to consider legal options, we may consider a challenge."

"Indigo was not a party to the dispute but is facing consequences of the arbitral award. Award can’t be enforced in this fashion," Singhvi further said.

On Thursday, October 7, 2021, Gangwal filed a motion in court to have the arbitration award… Continue Reading...

Tagged: Indigo   Delhi High Court  
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