Supreme Court · 2022 INSC 1223 · Decided 23 November 2022
M/S. Meenakshi Solar Power PVT. LTD. v. M/S. Abhyudaya Green Economic Zones PVT. LTD. and ORS.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 1223 · [2022] 8 S.C.R. 756
- Case number
- CIVIL APPEAL No. 8818/2022
- Decided
- 23 November 2022
- Bench
- BHUSHAN RAMKRISHNA GAVAI, B.V. NAGARATHNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 11(6)
Headnote
Arbitration and Conciliation Act, 1996: s. 11(6) - Appointment of arbitrator - Novation of contract - Effect of - Appellant entered into a share purchase agreement (SPA) with respondent No.1 as and 3 (promoters of respondent No.1) to buy the power project of respondent No.1 - Respondent Nos. 2 and 3 agreed to sell 100% ownership of respondent No. 1 and appellant agreed to purchase 100% Equity and Preference Shares of respondent no. 1 by taking over the loans of respondent No. 1 and
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