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Bench dismisses Union government’s challenge to a Delhi High Court order allowing Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards involving claims of nearly $99 million
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The New Delhi International Arbitration Centre (NDIAC) has been set up to promote arbitration in India and provide a platform for resolving disputes through arbitration.
Prelims Practice MCQs
What was the approximate amount claimed in the foreign arbitration awards?
The foreign arbitration awards involved claims of nearly $99 million. This is a significant amount that reflects the economic implications of the dispute.
Consider the following statements regarding Supreme Court's Ruling on Vedanta Arbitration Awards: 1. The Supreme Court allowed Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards. 2. The Union government challenged a Delhi High Court order allowing Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards. 3. The Supreme Court is the highest court in India and has the power to review and overturn any lower court's decision. How many of the above statements are correct?
Statement 1 is false because the Delhi High Court allowed Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards, but the Supreme Court's ruling was in favor of the companies. Statement 2 is true because the Union government challenged the Delhi High Court order. Statement 3 is true because the Supreme Court is indeed the highest court in India, but it does not necessarily have the power to review and overturn any lower court's decision, as it only dismissed the Union government's challenge in this case.
Consider the following two statements: Statement-I: The Supreme Court dismissed the Union government's challenge to the Delhi High Court order. Statement-II: The Union government challenged a Delhi High Court order allowing Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards. Which one of the following is correct in respect of the above statements?
Statement 1 is true because the Supreme Court dismissed the Union government's challenge. Statement 2 is also true because it explains why the Supreme Court dismissed the challenge, i.e., because the Union government challenged a Delhi High Court order allowing Vedanta Ltd. and Ravva Oil (Singapore) Pte. Ltd. to enforce foreign arbitration awards.