M/S. EVEREST HOLDING LTD. versus SHYAM KUMAR SHRIVASTAVA & ORS.

M/S. EVEREST HOLDING LTD. versus SHYAM KUMAR SHRIVASTAVA & ORS.

There is a valid arbitration agreement in the JVA; disputes arising out of or relating to the JVA, including contributions made by parties or their affiliates, must be referred to arbitration. Termination of the JVA does not negate the arbitration clause. The appointed arbitrator is empowered to decide disputes within the scope of the JVA, but not matters such as winding up, which remain under court jurisdiction.

Parties
Petitioner: M/s. Everest Holding Ltd.; Respondent: Shyam Kumar Shrivastava; Respondent: Shrivastava Group of Companies (Respondent No. 2); Respondent: Deccan Minerals Pvt. Ltd. (Respondent No. 3); Respondent: New India Mining Corporation Pvt. Ltd. (Respondent No. 4); Respondent: Minerals and Metals (Respondent No. 5); Respondent: Shrivastava Group Partnership Firms (Respondent Nos. 6 & 7); Respondent: Everest Mining & Mineral Pvt. Ltd. (Respondent No. 8, deleted during proceedings)
Jurisdiction
India
Judgment Date
24 October 2008
Procedural Posture
Arbitration Petition / Order Appointing Arbitrator
Outcome
Arbitration Petition disposed of; Arbitrator appointed
Legal Topics
Appointment of Arbitrator, Joint Venture Agreement, International Commercial Arbitration
Arbitration Commercial Law Company Law Appointment of Arbitrator Joint Venture Agreement International Commercial Arbitration

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Parties

M/s. Everest Holding Ltd.

Petitioner

Shyam Kumar Shrivastava

Respondent

Shrivastava Group of Companies (Respondent No. 2)

Respondent

Deccan Minerals Pvt. Ltd. (Respondent No. 3)

Respondent

New India Mining Corporation Pvt. Ltd. (Respondent No. 4)

Respondent

Minerals and Metals (Respondent No. 5)

Respondent

Shrivastava Group Partnership Firms (Respondent Nos. 6 & 7)

Respondent

Everest Mining & Mineral Pvt. Ltd. (Respondent No. 8, deleted during proceedings)

Respondent

Procedural Posture

Arbitration Petition / Order Appointing Arbitrator

Legal Issues

  1. 1 Whether disputes arising out of or in relation to the Joint Venture Agreement (JVA), including contributions by sister concerns and affiliates, are referable to arbitration despite JVA termination.
  2. 2 Power of arbitrator to adjudicate disputes regarding equity contribution and working expenses of the Joint Venture Company; scope in relation to winding up.

Ratio Decidendi

There is a valid arbitration agreement in the JVA; disputes arising out of or relating to the JVA, including contributions made by parties or their affiliates, must be referred to arbitration. Termination of the JVA does not negate the arbitration clause. The appointed arbitrator is empowered to decide disputes within the scope of the JVA, but not matters such as winding up, which remain under court jurisdiction.

Court Disposition

Arbitration Petition disposed of; Arbitrator appointed

Orders

  • Justice V.N. Khare, retired Chief Justice of India, appointed as sole arbitrator to decide disputes arising out of the JVA as expeditiously as possible.
  • Learned Arbitrator may fix his remuneration after discussion with the parties.