Alerts & Updates 7th May 2019

190422 ELP Arbitration Weekly Update

Latest Thought Leadership

Investment Funds
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SEBI’s Board Meeting approves GARUDA Mechanism for AIFs

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Power of the Central Government to call for information under the DPDP Act

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Investment Funds
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Variable Capital Company Fund Structures in the DIFC Singapore Mauritius and GIFT-IFSC – A Comparison

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Alerts & Updates 17th Jun 2026

New SEBI Rules for Retention of Proceeds and ‘Inoperative Fund’ Status for AIFs

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This week, we bring to you an analysis of the Supreme Court’s decision in Bharat Broadband Network Limited v. United Telecoms Limited. In the present case, the Supreme Court held that an arbitrator, appointed by a person who is ineligible to act as an arbitrator as per the provisions of section 12(5) read with the Seventh Schedule of the Arbitration and Conciliation Act, 1996 (as amended by Arbitration and Conciliation (Amendment) Act, 2015 (Amendment Act)) (Act), is de jure unable to perform his functions and that the mandate of such arbitrator automatically terminates. The Supreme Court also held that in such an event, the parties are to appoint a substitute arbitrator under section 14 of the Act or if there remains any controversy between them regarding the appointment of a substitute arbitrator, approach courts for appointment of a substitute arbitrator.

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