Partly allowed
M/S.Geojit Financial Services Lts v. S. Gomathi Nayagam
Madras HCOSA/288/2020
Case brief
AI extract
What is this about?
The Madras High Court allowed appeals to set aside arbitral awards where the sale of pledged shares lacked reasonable notice under the Contract Act, finding the awards perverse. It disqualified the higher court's conclusion that recovery from a third party was barred, affirming the contract's indemnity clause.
What did the court decide?
O.S.A.No.288 allowed, setting aside the impugned orders and award. O.S.A.No.289 dismissed, upholding the Single Judge's order despite disagreeing with specific reasoning regarding third-party recovery