Venture Global Engineering LLC v. Tech Mahindra Ltd & Anr. Etc.
Background
This is a split decision, not a final judgment. Venture Global Engineering LLC challenged an arbitral award dated 3 April 2006 in its dispute with Tech Mahindra Ltd, arising from the Satyam arbitration. The appeals concerned whether the award should be set aside under Section 34 of the Arbitration and Conciliation Act, 1996.
Decision Breakdown
This is a split decision, not a final judgment. Justice Sapre would have allowed Venture's appeals and set aside the award on grounds of public policy and fraud. Justice Chelameswar agreed only on the issue estoppel point and disagreed with reversing on public policy and fraud. Because of the difference of opinion, the Registry was directed to place the papers before the Chief Justice of India for an appropriate further course of action.
Lesson Learnt
There is no final ruling yet on whether the arbitral award stands or is set aside. When two judges disagree, the matter goes to the Chief Justice of India for further directions.