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However, few positives have already been factored in the market in last 10 trading sessions. ( Log Out /  Aggrieved, the Government of India filed an appeal before the Apex Court. The Apex Court in the instant case has made a conscious attempt to ensure smooth enforcement of foreign award by resolving the ambiguity concerning the period of limitation for enforcement of the foreign award and by narrowly interpreting public policy. A local court also rejected Vedanta’s plea in August. The Supreme Court on Wednesday dismissed the interim plea of Vedanta seeking permission to inspect its Sterlite copper unit at Tuticorin in Tamil Nadu, which is … The Court placed reliance on the decision of the Supreme Court in Renusagar Power Ltd v. General Electric Co [4] to hold that the public policy defence should apply only where enforcement of the award would violate the basic notions of morality and justice of the forum state. Konkola and Vedanta then appealed to the Supreme Court. The decision undoubtedly paves the way for more environmental and human … The decision, delivered by Lord Briggs, is less clear than could be hoped. The Supreme Court on Monday adjourned to February a plea filed by Goa Congress Chief Girish Chodankar seeking for a direction to the Goa Assembly … Supreme Court will otoday pronounce its verdict on the petitions challenging the validity of the Centre's plan to redevelop Central Vista project. The Supreme Court has clearly lost its patience with the sort of tactical challenges to jurisdiction mounted in Vedanta, litigated in contravention of Lord Templeman’s assertion in The Spiliada that jurisdiction disputes should rarely go beyond first instance, with submissions ‘measured in hours, not days’. Mining giant Vedanta Limited on Wednesday filed an appeal before the Supreme Court challenging the Madras High Court order refusing to grant permission for … Part II of Arbitration and Conciliation Act, 1996 does not contain any provision prescribing a period of limitation for filing an application for the enforcement of a foreign award under Section 47. Post the judgment in Shri Lal Mahal, several High courts sought to retrench the onerous threshold for resisting enforcement under Section 48(2)(b) of the Act. The Supreme Court’s ruling means the case against Vedanta and KCM can be heard in the British High Court, as the Zambian claimants initially wanted, and enables Vedanta, which is headquartered in London and has a market capitalisation of around $3.14bn, to be … The State Pollution Control Board had, in April 2018, refused to renew the Consent to Operate certificate for the plants on the grounds that it had failed to adhere to norms. v Lungowe and others [2019] UKSC 20; a long awaited decision on parent company liability and the jurisdiction of English courts over transnational torts. In a complex judgement, the court decreed that those most affected by the proposed mine should have a decisive say in whether it goes ahead. However, on a suggestive note, the Indian Courts should also attempt to shorten the timeline for the enforcement of domestic awards, which is twelve years, to ensure speedy and cost-effective resolution of disputes that arise in international commercial arbitration. In 2008, the Arbitral Tribunal seated in Malaysia passed an award in favour of Vedanta Limited & Others. In December, India`s National Green Tribunal (NGT) revoked the state decision to shut the plant leading Tamil Nadu to appeal the NGT ruling. The recent Supreme Court decision of Vedanta v Lungowe[1] is now the leading case on establishing jurisdiction in England for claims against parent companies and their subsidiaries for alleged environmental and human rights abuses of the subsidiary committed abroad. ( Log Out /  Senior advocate Abhishek Manu Singhvi appearing for Vedanta submitted in the court that the plant provide employment to 4000 people and fulfills 36% or country copper needs and said that India is dependent on imports of copper after the shut down . Views expressed on this blog are strictly personal and attributable solely to the author(s). On 10 April 2019, the UK Supreme Court handed down its judgment in Vedanta Resources PLC and anor. v Lungowe and others [2019] UKSC 20 will undoubtedly have an impact on such claims. A three-judge Bench headed by Justice R F Nariman posted the company’s appeal, which challenged the Madras High Court verdict upholding the Tamil Nadu government’s decision, for hearing in January 2021. [2] The judgment also holds significance as the Supreme Court has finally settled the ambiguity concerning the period of limitation for enforcement of a foreign award. This site uses Akismet to reduce spam. In its plea before the Supreme Court, Vedanta challenged the Madras High Court’s August 2020 decision refusing the request for the reopening of the copper smelter plant. The Apex Court then scrutinized whether foreign award was contrary to the Public Policy of India. New Delhi, Aug 26: Vedanta on Wednesday moved to the Supreme Court challenging the Madras High court's order, which had rejected Vedanta's … The UK Supreme Court's (UKSC) recent, landmark judgment in Vedanta Resources PLC and anor. On 15–16 of January 2019, the UK Supreme Court heard an appeal in the case of Vedanta Resources PLC and another v Lungowe and others. United Kingdom (UK) Supreme Court decision upholding jurisdiction and potential liability of a UK parent company in connection with alleged actions of a Zambian subsidiary company that took place in Zambia. Tamil Nadu … Change ), You are commenting using your Facebook account. In December 2018, the National Green Tribunal (NGT) allowed the reopening of the plant, but this was set aside by the Supreme Court, which said the NGT did not have the jurisdiction, more so when an appeal was pending before the appellate authority. 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