Posted in apygtmky

Lloyds’ share price could make it one of the best dividend shares to buy now

first_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Roland Head | Saturday, 20th February, 2021 | More on: LLOY Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” See all posts by Roland Head Roland Head has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group and Schroders (Non-Voting). Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images center_img Enter Your Email Address Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. The Lloyds Banking Group (LSE: LLOY) share price has fallen by 30% over the last year, lagging the FTSE 100 by 20%. Lloyds hasn’t paid out a dividend since September 2019 and is only expected to declare a tiny final dividend for 2020.Despite all of this, Lloyds’ depressed valuation has got me interested. I expect the bank’s profits and dividend to recover strongly in 2021. Broker forecasts for this year suggest the stock could offer a dividend yield of more than 4%, with another big increase expected in 2022.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Why I like LloydsHigh street banks have had a problem with low interest rates in recent years. Put simply, low rates and strong competition among lenders have led to lower profit margins on mortgages and loans.I don’t think there’s any end in sight to low interest rates. But I do think banks are likely to find other ways to repair their profitability. One possibility is that competition will lessen in the mortgage market, resulting in higher mortgage rates. For Lloyds, which has around 20% of the UK mortgage market, this could make a big difference.Another area of potential growth is wealth management. Lloyds is expanding into this sector through a joint venture with City firm Schroders. Looking after rich people’s assets is generally more profitable than providing standard banking services, so this too could boost profits over time.Growth could be a struggleLloyds’ big share of the UK mortgage market attracts me. I expect it to be a reliable source of income. But the bank’s large size and UK-only focus does present some challenges. I think these are behind Lloyds’ weak share price.In a mature market like the UK, growth opportunities could be limited. As far as I can see, Lloyds needs to steal business from its rivals to get bigger. That won’t necessarily be easy.Another concern is the impact of the coronavirus pandemic. Broker forecasts for 2020 suggest earnings fell by more than 50% last year, compared to 2019. Profits aren’t expected to rise above 2019 levels until 2022.If the bank can deliver on these forecasts, then I think the shares look cheap. But this isn’t guaranteed. As far as I can tell, no-one really knows how quickly the UK economy will recover when government support measures are withdrawn.One risk I can see is that unemployment will rise sharply after the furlough scheme ends. That could see more borrowers fall into arrears with their mortgages. Similarly, I think there’s a risk we’ll see a surge of small business bankruptcies. This could hit Lloyds’ corporate banking profits.Lloyds share price: at the right level?Of course, Lloyds hasn’t overlooked the potential for increased losses. The accounting rules which apply to banks require them to estimate expected future losses and book these against their profits.The bank included a £4.2bn impairment charge in its results for the first nine months of 2020, reflecting expected losses from the pandemic. If that’s as bad as it gets, then Lloyds looks good value to me at a share price of around 40p. I’d be happy to add a few to my dividend portfolio. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Lloyds’ share price could make it one of the best dividend shares to buy nowlast_img read more

Continue Reading... Lloyds’ share price could make it one of the best dividend shares to buy now
Posted in apygtmky

Northampton Saints at home in Milton Keynes

first_imgNorthampton Saints 23 Ulster Rugby 13HT: 10-13 Attendance: 21,309 at stadium:mkNorthampton Saints: B Foden, C Ashton, J Clarke, J Downey, P Diggin, S Myler, L Dickson, S Tonga’uiha (A Waller 78), D Hartley [capt] (B Sharman 78), B Mujati, C Lawes, C Day, P Dowson (C Clark 74), T Wood, R WilsonScorers: Try – L Dickson, S Tonga’uiha; Conversion – S Myler (2) ; Penalty – S Myler (3)Ulster Rugby: A D’Arcy, A Trimble, N Spence, P Wallace, S Danielli (C Gilroy 79), I Humphreys, R Pienaar, T Court, R Best [capt], B Botha (P McAllister 71), J Muller (I Whitten 78), D Tuohy (T Barker 57), R Diack (W Faloon 62), C Henry, P WannenburgScorers: Try – A Trimble; Conversion – I Humphreys; Penalty – I Humphreys (2) Saints march in: Fans packed out stadium:mk to see Northampton beat Ulster 23-13NORTHAMPTON ARE excited about playing their Heineken Cup semi-final at stadium:mk.The Saints beat Ulster 23-13 in front of more than 21,000 fans at the home of MK Dons to reach the last four and will return to the venue on Sunday 1 May to play Perpignan.Corner stop: Lee Dickson touches down for NorthamptonNorthampton captain Dylan Hartley described the atmosphere as “electric” while Stephen Myler, who contributed 13 of the Saints’ points with his boot, said: “It felt like Franklin’s Gardens but was even louder than that today. We were behind at half-time so we needed them to get behind us and they definitely spurred us on. They helped us to go from strength to strength.”Northampton started the better in Milton Keynes, Soane Tonga’uiha crossing after just two minutes, but Ulster scored just before the break to lead 13-10. Two beautifully-timed inside balls allowed first Simon Danielli and then Andrew Trimble to bust the Saints’ defensive line and the latter’s break was accurate enough for him to touch down near the posts.The Saints made Ulster pay for their errors and indiscipline in the second half, Myler slotting the penalties and Lee Dickson touching down after a lovely piece of link play down the wing between Chris Ashton and Ben Foden.Their physicality told in the last 20 minutes as they overpowered Ulster at the breakdown and director of rugby Jim Mallinder is now looking forward to that semi-final against Perpignan, which will kick off at 3pm.“Perpignan have got threats all over the field,” he said, “but we can take confidence from the fact that we’ve beaten them before and can do it again. ”Hartley certainly doesn’t want to settle for a place in the last four, saying: “We’ve gone one step further than last year (when they lost in the quarter-finals to Munster) so that’s a positive, but we can’t be happy with just that.” LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS TAGS: Northampton SaintsUlster Heineken Man of the Match: C Lawes (Northampton Saints)Referee: Romain Poite (France)last_img read more

Continue Reading... Northampton Saints at home in Milton Keynes
Posted in apygtmky

Event Planning: The Ultimate Guide to Successful Meetings, Corporate Events, Fund-Raising Galas, Conferences, Conventions,

first_img Howard Lake | 13 March 2009 | News  18 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Eventscenter_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Event Planning: The Ultimate Guide to Successful Meetings, Corporate Events, Fund-Raising Galas, Conferences, Conventions,last_img read more

Continue Reading... Event Planning: The Ultimate Guide to Successful Meetings, Corporate Events, Fund-Raising Galas, Conferences, Conventions,
Posted in apygtmky

Acting Comptroller of the Currency Addresses Amendments to HMDA

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago October 17, 2017 1,279 Views HOUSING mortgage OCC 2017-10-17 Nicole Casperson in Daily Dose, Featured, Headlines The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Acting Comptroller of the Currency Addresses Amendments to HMDA Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] About Author: Nicole Casperson Related Articles Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily  Print This Post Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: HOUSING mortgage OCC The Office of the Comptroller of the Currency (OCC) issued a bulletin on Tuesday to publicize key fields—which examiners will use to validate the accuracy and reliability of home mortgage loan data collected.These key fields, which are intended for national banks, federal savings associations, and insured federal branches and agencies of foreign banks, will establish beginning in 2018, pursuant to the Home Mortgage Disclosure Act (HMDA) rule issued October 15, 2015.According to the release, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the OCC issued “similar guidance designating the same key fields for these purposes.”In response, Keith A. Noreika, Acting Comptroller of the Currency, said he commends the hard work of the staffs of the OCC and the other federal banking agencies.“The action the agencies take today will support the efficient and effective evaluation of financial institutions’ compliance with the requirements of HMDA,” Noreika said in a statement released Tuesday.Noreika continued, “In my conversations with OCC examiners and community banks across the country, I have heard how HMDA data reporting can create an unnecessary burden, especially for small community banks, when they are required to resubmit their entire HMDA reports simply because of a few minor errors.”Additionally, Noreika added that it has become clear to him that examiners need discretion to exercise judgment to ensure corrections of errors and proper reporting of HMDA data, “without imposing the needless burden involved in a full resubmission.”In an effort to establish clarity, the OCC’s bulletin makes it clear to OCC examiners that they have the discretion and should exercise judgment in their supervisory actions to ensure the accurate collection of HMDA data—without requiring burdensome resubmissions, according to the OCC.The purpose of HDMA, which is implemented by Regulation C (12 CFR 1003), is to require certain financial institutions to collect, record, and report information about mortgage lending activity.Therefore, HMDA amendments attempt to ensure compliance with the HMDA’s requirements, traditionally the FRB, the FDIC, and the OCC have identified and focused examination-related testing of HMDA data on certain agency-designated key fields. According to the OCC, the key fields are those fields considered to be “most important to ensuring the integrity of analyses of overall HMDA data.”To view the full bulletin, click here. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Acting Comptroller of the Currency Addresses Amendments to HMDA Previous: U.S. Senate: Credit Bureaus Data Security and Equifax Next: Quicken Rocketing Toward E-Lending Expansionlast_img read more

Continue Reading... Acting Comptroller of the Currency Addresses Amendments to HMDA
Posted in apygtmky

Moynihan: “Housing Demand Will Ebb and Flow a Little Differently”

first_img Moynihan: “Housing Demand Will Ebb and Flow a Little Differently” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Bank of America Homeowners HOUSING mortgage Supply 2018-10-17 Radhika Ojha  Print This Post Tagged with: Bank of America Homeowners HOUSING mortgage Supply Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Moynihan: “Housing Demand Will Ebb and Flow a Little Differently” Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Demand Propels Home Prices Upward 2 days ago Brian Moynihan, Chairman and CEO, Bank of AmericaA number of factors are affecting the housing market. Despite these changes, one needs to keep perspective when analyzing this industry, according to Brian Moynihan, Chairman, and CEO of Bank of America, who recently spoke about the changes in mortgage interest caps and the macro factors affecting housing at CNBC’s Net/Net event in New York.Speaking about the changes to the cap in the mortgage interest that homeowners could write off, implemented in the Tax Cuts Act, Moynihan said that it was unchartered territory for many homeowners as well as financial institutions because the home mortgage interest deduction was “so jealously protected for so many years. And $10,000 is a pretty healthy amount of interest.”However, he said that these changes wouldn’t have a huge effect on homeowners because to qualify for that kind of cap on a mortgage, “a household’s probably got to have a $100,000 to $125,000 of income, a little bit more. So a couple hundred dollars a month isn’t going to make the decision different.” At the most, Moynihan said it would slow down a homeowner’s decision to upgrade. “But I think we’ve got to be careful about over-estimating across the 60 million households that have debt out of 130 million households in America.”Touching upon the high-interest rate environment and the health of the housing market, Moynihan said, “Housing is at tails,” as a number of factors were affecting the housing market, but they should be kept in perspective, especially since the rising rates will not change the market in any major way. “We still did, around, 10.5 billion of mortgage loans this quarter. Last year we probably did 13 billion,” Moynihan told the audience.Looking at the effect of population on housing, Moynihan said, “At the end of the day, without population growth that we had in the mid-2000s at 1.5 percent the demand for housing is going to sort of ebb and flow a little differently.”Looking at the larger market, Moynihan said that housing construction was growing evenly because of locational problems. “It’s really tight in cities like Charlotte where we’re trying to build tens of thousands of units for workers because we’re short. In other places, there’s an excess of supply,” especially in cities that are still recovering from the Great Recession. Despite rising home prices and inventory remaining down, for the most part, Moynihan said that they were fine for now. “But we got to watch it because it’ll be a leading indicator of people’s belief in their wealth if we see housing prices tip over,” he said. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Previous: The Housing Choices of Older Americans Next: How are Owners Using Their Home Equity? About Author: Radhika Ojha Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. October 17, 2018 1,275 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Continue Reading... Moynihan: “Housing Demand Will Ebb and Flow a Little Differently”
Posted in apygtmky

Oatfield factory to close next month with the loss of 15 jobs

first_img 365 additional cases of Covid-19 in Republic Further drop in people receiving PUP in Donegal 75 positive cases of Covid confirmed in North Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Oatfield factory to close next month with the loss of 15 jobs Google+ RELATED ARTICLESMORE FROM AUTHOR Twitter Facebook WhatsApp Pinterestcenter_img Pinterest Gardai continue to investigate Kilmacrennan fire Man arrested on suspicion of drugs and criminal property offences in Derry Google+ WhatsApp Twitter The Oatfield factory in Letterkenny is to close at the end of next month, with the loss of 15 jobs.In a statement, Oatfield Confectionery says this difficult, but unavoidable business decision was made following a detailed review of manufacturing operations.The company says the past number of years the factory in Letterkenny has been under continual review due to unsustainable overhead and operating costs.The statement concludes that the 15 employees concerned have their assurance that we will support them in every practical way in order to minimize the impact of the decision.Letterkenny’s Mayor Cllr Gerry Mc Monagle says this is a sad day for the workers, but also for the town……[podcast]http://www.highlandradio.com/wp-content/uploads/2012/04/ger3pm.mp3[/podcast] Newsx Adverts Previous articleMan gets bail after Donegal judge said: ‘I’ll spit you out’Next articleMinister briefed on Oatfield closure as company plans to meet workers News Highland By News Highland – April 27, 2012 last_img read more

Continue Reading... Oatfield factory to close next month with the loss of 15 jobs
Posted in apygtmky

[Breaking] Advocate-On-Record Examination Scheduled To Be Held In June 2020 Deferred Due To COVID Outbreak

first_imgTop Stories[Breaking] Advocate-On-Record Examination Scheduled To Be Held In June 2020 Deferred Due To COVID Outbreak Sanya Talwar9 April 2020 11:55 PMShare This – xThe Supreme Court Advocates On Record Assocation has announced that the Advocate-On-Record (AoR) Examination, scheduled for the month of June has been deferred.Accordingly, members were informed regarding the said development via SMS which stated, “Dear Members, We wish to inform you that the AOR exams normally scheduled for the month of June has been deferred as of now. We will keep…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court Advocates On Record Assocation has announced that the Advocate-On-Record (AoR) Examination, scheduled for the month of June has been deferred.Accordingly, members were informed regarding the said development via SMS which stated, “Dear Members, We wish to inform you that the AOR exams normally scheduled for the month of June has been deferred as of now. We will keep you informed as and when the AOR exams are notified. Warm Regards,Joseph Aristotle S.Secretary, SCAORA”Live Law contacted Mr. Shivaji M. Jadhav, President of SCAORA & Mr.Joseph Aristotle S., Secratary and they confirmed the deferment. “The Registrar General of the Supreme Court has confirmed the development in light of the Coronavirus outbreak” Added Mr. Jadhav.The AoR Examination is held every year in June  & is regulated by a Board of Examiners (regulated by the Supreme Court). The AoR Examination is divided into four individual papers; Drafting, Practice & Procedure, Legal Ethics & Leading Cases. It is held every year in the month of June.Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Continue Reading... [Breaking] Advocate-On-Record Examination Scheduled To Be Held In June 2020 Deferred Due To COVID Outbreak
Posted in apygtmky

Arbitration Court Reckoner : November & December 2020

first_imgKnow the LawArbitration Court Reckoner : November & December 2020 Kanika Singh23 Jan 2021 11:00 PMShare This – xBy way of the present column, an attempt is made to briefly review the salutary judgments pronounced by the Courts in the month of November & December 2020 under the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the ‘Act’). That while as many judgments as possible are sought to be reviewed, owing to the limited column space, some judgments would invariably be…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginBy way of the present column, an attempt is made to briefly review the salutary judgments pronounced by the Courts in the month of November & December 2020 under the Arbitration & Conciliation Act, 1996 (hereinafter referred to as the ‘Act’). That while as many judgments as possible are sought to be reviewed, owing to the limited column space, some judgments would invariably be left out. That also while an attempt is made to include and review some judgments of various other High Courts, the emphasis is essentially on the judgments of the High Court of Delhi and Supreme Court of India. That judgments have been compiled for review with reference to the Section of the Act that they are primarily dealing with and a detailed analysis has been forgone in favour of succinctness. Section 2(1)(d) & Section 2(2) (i) Concept of emergency arbitration is not outside the scope or contrary to Part-1 of the Act In Future Retail Ltd. v Amazon.com Investment Holdings LLC & Ors.[1], High Court of Delhi was dealing with a case where the international commercial arbitration was seated in India but was to be conducted in accordance with SIAC Rules and the question arose as to whether the provisions of Emergency Arbitration in the SIAC rules, are in any manner contrary to/repugnant with the public policy of India, or with the mandatory requirements of the procedural law under the Act. The Court held the Indian law of arbitration allows the parties to choose a procedural law different from the proper law, and there is nothing in the Act that prohibits the contracting parties from obtaining emergency relief from an emergency arbitrator. Further held, parties having deliberately left it open to themselves to seek interim relief from an emergency arbitrator, or the Court in terms of Rule 30.3 of SIAC Rules, the authority of the said emergency arbitrator cannot be invalidated merely because it does not strictly fall within the definition under Section 2(1)(d). Inasmuch as S. 9 of the Act along with S. 27, 37(1)(a) and 37(2) are derogable by virtue of the proviso to S. 2(2) in an International arbitration seated in India upon an agreement between the parties, it cannot be held that provision of Emergency Arbitration under the SIAC rules are, per se, contrary to any mandatory provisions of the A&C Act. Section 2(3) & 5 (ii) S. 2(3) of the Act craves out an exception to S. 5 of the Act, thus provides for judicial intervention in relation to disputes which may not be submitted to arbitration. In Dr Bina Modi v. Lalit Kumar Modi and Others[2], High Court of Delhi held that issues under the Trusts Act cannot be the subject matter of arbitration. The Court further held that the decision in Kvaerner Cementation India Ltd. v Bajranglal Agarwal[3] did not deal with the exceptions carved out of S. 5 of the Act by the provision of S. 2(3) thereof, which provides for judicial intervention in matters, in relation to disputes which may not be submitted to arbitration, on account of any other law for the time being in force and thus civil courts have jurisdiction to pronounce upon arbitrability or non-arbitrability of the disputes and are not denuded of their jurisdiction to entertain anti-arbitration suits to consider whether the disputes are arbitrable or not. The Court further held that the principles of autonomy of arbitration and kompetenz-kompetenz did not prima facie arise in the present case, since the disputes themselves are not be capable of being submitted to arbitration. The Court thus set aside the decision of the Ld. Single Judge dismissing the anti-arbitration suit. Section 7 (iii) Clause providing the parties may opt for arbitration is a valid arbitration agreement if option is exercised by a party In Royal Orchid Associated Hotels P. Ltd v Kesho Lal Goyal[4], High Court of Delhi held a clause in the agreement which stipulated that in case of any dispute, the parties can approach Courts at Delhi or alternatively, they may opt to go for arbitration to be a valid arbitration agreement. The Court held that such a clause empowered the parties either to get the disputes / claims adjudicated through the jurisdiction of the Court or by way of arbitration and the petitioner having chosen the option of arbitration, the S. 9 petition filed by it was maintainable. However, on merits it refused to grant the relief, in the nature of specific performance of the agreement/relief against dispossession post termination of agreement, inter alia holding the grant of the said relief to be barred as a contract which is in its nature determinable cannot be specifically enforced. (iv) Reserving one’s right to arbitrate under the Act is not an unequivocal commitment to arbitration, nor does it demonstrate the existence of an arbitration agreement. In Viren Umedial Mehta v Royal Food & Hospitality & Ors.[5] High Court of Bombay held that merely ‘reserving’ a right to refer the disputes to arbitration does not in itself indicate the existence of an arbitration agreement. It held that an arbitration agreement cannot be an option at the discretion of one or the other party and a valid arbitration agreement demonstrating consensus necessarily has to say that the parties shall refer any disputes to arbitration. Section 8 (v) A party to arbitration agreement must apply u/s 8 in writing for referring parties to arbitration and a verbal plea in this regard is not sufficient. In Alok Kumar Lodha v Asian Hotels (North) Ltd.,[6] High Court of Delhi held that it is only the defendant who can apply under S. 8(1) and further held that invocation of S. 8 has to be by an application in writing and the provisions of law in this regard, besides in the Arbitration Act, also in the CPC, Commercial Courts Act and the Delhi High Court (Original Side) Rules, 2018, cannot be thrown to the wind and invocation permitted verbally. Section 9 (vi) Power to Grant of relief u/s 9 or 17 to secure the amount in dispute in the arbitration, is to be administered with additional caution, as grant of any relief, would be justified only if it is by way of interim protection. In Pearl Hospitality & Events P. Ltd. v Oyo Hotels & Homes P. Ltd. [7] High Court of Delhi held that before exercising jurisdiction under S. 9, the Court has to satisfy itself that there exists (i) an arbitration agreement, (ii) an arbitral dispute and (iii) manifest intention, on the part of the petitioner, to initiate arbitral proceedings (iv) the existence of circumstances which require grant of interim protection and urgent necessity. Court further held that issuance of a notice invoking arbitration is, however, not a sine qua non, for manifest intention to initiate arbitral proceedings to be said to exist. The Court held that all that the Court is required to determine, while examining a prayer relatable to S. 9(1)(ii)(b), is whether a case, for securing the amount in dispute in the arbitration, is, or is not, made out. Once the Court determines that the petitioner has an arguable case, and that the interests of justice requires securing of the amount, so as to render the award, if finally passed in favour of the petitioner, meaningful and capable of enforcement, the Court is not only empowered, but is also obligated, to secure the amount. It was further held that the opinion of the Court, in such a case, has to be understood as expressly limited to determining the issue of whether the amount is required to be secured or not, in the context of S. 9, and is not to be regarded as an expression of opinion on merits, regarding the entitlement of the petitioner to the said amount. In the facts of the case, the Court allowed the Petitioner’s prayer for deposit of the amount of liquidated damages being the amount of rent payable during the lock in period, prima facie holding that termination was not valid, and directed the Respondent to deposit the said amount in Court. (vii) S. 9 petitions cannot be disposed of ex-parte, without giving notice to the Respondent therein, especially when coercive orders are being passed In New Morning Star Travels v Volkswagen Finance P. Ltd.[8] High Court of Delhi allowed petitions under Article 227 of Constitution of India, filed against the orders of the Trial Court by which S. 9 petitions had been disposed off on the very first day of hearing, without issuing notice in the petitions to the Petitioners (who were the Respondents before the Trial Court) and by passing coercive orders permitting the Respondents to take possession of the vehicles of the Petitioner. The Court held that S. 9 petitions cannot be disposed of ex-parte, without giving notice to the respondent therein, especially when coercive orders are being passed. The Court held that while power to pass ad-interim orders under S. 9 of the Act exists, however, disposal of the petitions, without issuing notice and hearing the respondent as well as directing coercive orders of possession would be violative of the principles of natural justice. The Court further held that the appointment of Receivers at the ex-parte stage in matters such as vehicle loans ought to satisfy the test of imminent threat and the Court also ought to come to a conclusion that there was a deliberate intention not to repay the loan. The Court held that guidelines set out in Cholamandalam DBS Finance Ltd. v. Sudhees Kumar[9] may be followed in case of S. 9 petitions relating to vehicle loans. (viii) Non-signatory Respondents functioning as single economic entity with signatory Respondents are bound to arbitration clause and restraint orders can be passed against them u/s 9 In KKR India Private Financial Services Ltd. & Anr v Williamson Magor & Co. Ltd. & Ors. [10] High Court of Delhi held the non-signatory Respondents bound to the arbitration agreement by invoking the Group of Companies doctrine and holding that non-signatory Respondents and the signatory Respondents form part of a tight group structure with strong organizational and financial links, and function as a single economic entity and thus restraint orders u/s 9 of the Act can be passed against the non-signatory Respondents. The Court further held that perusal of the communications between the parties bring to light the various negotiations being initiated by non-signatories, as well as the mutual intention to bind the non-signatories to the Agreement. (ix) Covid pandemic and the resultant restrictions, lockdowns and advisories issued by the Central and State Governments and Authorities qualify as ‘force Majeure’ condition In Mumbai International Airport Limited v Airports Authority of India[11] High Court of Delhi reiterated that the S. 9 court is concerned more with the necessity to preserve the status quo, so as to facilitate the arbitral process, to be initiated by the parties and held that for this reason, it is also open to the S. 9 court to, while passing pre-arbitral interim measures of protection under S. 9, condition such grant by requiring the parties benefiting therefrom, to institute arbitral proceedings within a specified timeframe. In the facts of the case and the force majeure clause contained in the agreement between the parties, the Court held that the Covid pandemic and the resultant restrictions, lockdowns and advisories issued by the Central and State Governments and Authorities qualify as ‘force Majeure’ condition. The Court further found a prima facie case in favour of the Petitioner, and accepted its contention that it was unable to render the performance of its obligation to pay Monthly Annual Fees, as claimed by Respondent, as a result of the said Force Majeure condition. The Court further held that Respondent could not have arbitrarily fixed terminus ad quem of the force majeure especially in view of the clause between the parties which provided that time for performance, by the party affected by force majeure, of its obligations under the OMDA, contractually stands extended till the pre-force majeure level of activity of the party is restored. (x) Court is empowered to tailor the relief to the facts and grant interim protection even when there is no danger to arbitral proceedings/subject matter of arbitration In AST Enterprises Inc. v Mewa Mishra Enterprises P. Ltd.[12], High Court of Delhi held that though there is no quarrel with the proposition that in a disputed claim, interim protection, by way of securing the amount in dispute, at a pre-arbitral stage, would be justified only where there is a danger of the arbitral proceedings but held that the Court is empowered to tailor the relief to the facts which appear before it. Thus even in the absence of any plea/evidence to the fact arbitral proceedings will be frustrated, the Court directed the deposit of the amount in dispute, given the extreme nature of the circumstances in the case, and the prima facie, unconscionable manner in which the respondent had acted. (xi) Grant of relief under principles analogous to O 39 R 10 In Brace Iron & Steel P. Ltd. v Tata Steel BSL Ltd.[13] High Court of Delhi directed the Respondent to pay arrears of lease rent as per agreement rate even though the Respondent sought to raise a dispute with regards to the said rate and which dispute was yet to be decided by the arbitrator. While doing so, the High Court rejected the contention of the Respondent that grant of such interim relief would be in the nature of grant of final relief and clarified that such payment would be subject to the outcome of the proposed arbitral proceedings. Section 11 (xi) Where contract stipulates time period for a party to appoint arbitrator, right to appoint stands forfeited after elapse of said period In M/s. Larsen & Toubro Ltd. v NHAI[14] High Court of Delhi was dealing with a case where the arbitration clause provided that each party would nominate a nominee arbitrator and in case of failure to appoint by a party within 30 days, the nominee arbitrator would be appointed by Indian Roads Congress. The issue which arose for consideration before the Court was whether the Respondent could have appointed its nominee arbitrator after lapse of 30 days when Petitioner had approached IRC but before the petitioner had filed the S. 11 petition . The Court held that the Respondent could not appoint an arbitrator as its right stood forfeited in view of the specific contractual stipulation with regards to time period for nominating the arbitrator. (xii) An Exclusive Jurisdiction clause conferring specific jurisdiction for appointment of arbitrator would take precedence over seat of arbitration clause In Cars24Services P. Ltd. v Cyber Approach Workspace LLP[15], High Court of Delhi was confronted with an arbitration clause which conferred the jurisdiction to appoint the arbitrator, i.e. S. 11 jurisdiction, on courts in Haryana but at the same time stipulated that seat of arbitration would be at New Delhi. The Court held that the view that the “seat of arbitration clause” has to be treated as akin to an exclusive jurisdiction clause, has been expressed, by the Supreme Court, in cases in which there is no separate exclusive jurisdiction clause, conferring exclusive jurisdiction on courts located elsewhere. The Court further held that where such a separate exclusive jurisdiction clause, conferring exclusive jurisdiction on courts other than the court having jurisdiction over the contractual seat of arbitration, exists, it may not be proper, to grant pride of place, to the seat of arbitration clause, over the exclusive jurisdiction clause specifically when the exclusive jurisdiction clause specifically provides for appointment of arbitrator and thus held that the Courts in Haryana alone would have jurisdiction to entertain a petition for appointment of arbitrator. (xiii) where the arbitration agreement contemplates arbitration only of notified claims, claims, which are not notified in accordance with the procedure stipulated, cannot be referred In Brilltech Engineers P. Ltd. v Darrameks Hotels Developers P. Ltd.[16] High Court of Delhi held that an arbitration clause which provided for remedy of arbitration only in respect of notified claims of the party had to be strictly interpreted. The Court held that as admittedly the claims had not been notified as per procedure provided in the contract, the fact that there had been a series of communications in connection with the claims would not suffice to constitute notification of the claims which had to be as procedure provided in the contract (xiv) Equitable protection of nature provided in S. 114 of Transfer of Property Act does not mean that dispute relating to those aspects between the landlord and the tenant is not arbitrable, Arbitrator empowered to exercise same discretion In Suresh Shah v Hipad Technology India P. Ltd.,[17] Hon’ble Supreme Court held that equitable protection of the nature provided in S. 114 of the Transfer of Property Act does not mean that the dispute relating to those aspects between the landlord and the tenant is not arbitrable and that only a Court is empowered to waive the forfeiture or not in the circumstance stated in the provision. The Court held that where in such disputes the parties have opted for arbitration, then in the arbitration proceedings where the landlord has sought for an award of ejectment on the ground that the lease has been forfeited since the tenant has failed to pay the rent and in such proceedings the tenant pays or tenders the rent to the lessor or remedies such other breach, it would be open for the Arbitrator to take note of Section 114, 114A of TP Act and pass appropriate award in the nature as a Court would have considered that aspect while exercising the discretion. Section 12(5) (xv) Amended S. 12(5) not applicable to arbitral proceedings which commenced prior to 23.10.2015 even if arbitration clause provided that provisions of 1996 Act with statutory modifications would be applicable In ABB India Ltd. v Bharat Heavy Electricals Ltd.[18] High Court of Delhi rejected the argument that an arbitration clause which provided “the provisions of the Arbitration and Conciliation Act, 1996 (India) or statutory modifications or re-enactments thereof and the rules made thereunder and for the time being in force shall apply to the arbitration proceedings under this clause”, would result in making Section 12(5) of the Act, as inserted by the 2015 Amendment Act, applicable to arbitral proceedings which had commenced prior to 23.10.2015. The Court held that such an interpretation would be contrary to the judgment of the Hon’ble Supreme Court in U.O.I. v. Parmar Construction Company[19] and thus held that S. 12(5) would not be applicable . The Court also observed that Section 26 of the 2015 Amendment Act is fundamentally different from Section 85(2)(a) of the 1996 Act, both structurally and conceptually, and requires, therefore, to be interpreted, keeping this distinction in mind. Section 14 (xvi) Revision of Arbitral Fees by the Arbitrator contrary to terms of appointment is a de jure in-eligibility In NTPC Ltd. v. Amar India Ltd.[20] High Court of Delhi held that the Arbitrator had become de jure unable to perform his functions as he wrongly sought to revise his fee from the agreed fee as mentioned in the appointment letter, which he had consented to, to the fees provided under Fourth Schedule to the Act and on the said ground terminated the mandate of the Arbitrator. Section 29 A (xvii) Where appointment of Arbitrator is by parties, then S. 29 A application for extension would lie before concerned principal civil court of original jurisdiction In M/s. Ekk & Co. & Ors. v State of Kerala & Ors.,[21] High Court of Kerala held that where the initial appointment of an Arbitrator is by the High Court under S. 11 of the Act, then an application for extension u/s 29A would lie before the High Court but where the initial appointment was by the parties themselves without intervention of the Court, it is the principal civil court of original jurisdiction concerned that would have the power to extend the time for completion of the arbitration. Section 33 (xviii) Application u/s 33 of the Act cannot be made after the statutorily stipulated period of 30 days In Project Director, NHAI & Ors. v S.D.M.-cum-Land Acquisition Collector, Pathankot and Ors.[22], High Court of Punjab & Haryana held that once time period of 30 days provided in S. 33 of the Act for making an application under the said section is elapsed, a party cannot be permitted to file an application for rectification of any error as in terms of S. 32 of the Act, after the pronouncement of the final Award, the proceedings before the Arbitrator stand terminated and he is functus officio. The Court held that very object of the Act, which is the expeditious conclusion of disputes by the alternative mode, would be defeated if the strict time lines spelt out in S. 33 and 34 are not adhered to. Section 34 (xix) Seat of arbitration provided in agreement can be changed only by amendment in writing signed by parties In Goyal MG Gases P. Ltd. v Steel Authority of India[23], High Court of Delhi was dealing with a case where the arbitration clause provided that arbitration would be held in Durgapur, West Bengal but the parties had consented to arbitration being held in New Delhi, as recorded in an order of the Arbitral Tribunal and the award was passed in New Delhi. The Court held that there could not be a change of seat of arbitration without an agreement/amendment in writing and the order of the Arbitral Tribunal recording the consent of the parties to hold arbitration in Delhi could not be construed as amendment in writing within the meaning of S. 7 of the Act, especially when the agreement between the parties stipulated that any amendment thereto had to be in writing and signed by the parties. The Court thus held that Delhi was only the venue in terms of S. 20(3) of the Act and Courts in Delhi would not have jurisdiction to entertain the S. 34 petition filed by the petitioner. (xx) Pre-BALCO award cannot be challenged by way of S. 34 where seat of arbitration was outside India though contract stipulated that it would be governed by laws of India In Noy Vallesina Engineering SpA, v Jindal Drugs Limited & Ors.[24], Hon’ble Court held that proceedings under S. 34 cannot be maintained against a foreign award where contract stipulated that arbitration shall be conducted in London under the rules of the International Chamber of Commerce, Paris, even though contract additionally stipulated that contract shall be governed by laws of India. The Court held that even though the award in question was rendered prior to the judgment in Bharat Aluminium Company vs Kaiser Aluminium Technical Services Inc[25], in view of the settled law with seat of arbitration (or the curial law) excluding applicability of Part I of the Act, and the unambiguous intention of the parties in the present case that the seat of arbitration was London, where the ICC arbitration proceedings were in fact held, and the awards rendered, S. 34 proceedings would not be maintainable. (xxi) Order passed by the Arbitrator dismissing an application for amendment of pleading amounts to interim / partial award . In Lt. Col. H.S. Bedi Retd & Anr. v STCI Finance Ltd[26]., High Court of Delhi held that with the rejection of the application for amendment of the SOD by the arbitrator, the claims raised by the Respondent had attained finality without considering the plea of equitable set off which was sought to be added by the petitioner by way of amendment and thus the said order was in the nature of the interim award and a petition u/s 34 would lie against the same. The Court further set aside the order of the Arbitrator and allowed the amendments to be brought on record as it found that there was not undue delay in making the amendment and evidence had not yet been recorded. (xxii) When there are a number of documents exchanged between the parties in the performance of a contract, all of them must be read as a connected whole In Anglo American Metallurgical Coal Pty Ltd. v MMTC Ltd.[27], Hon’ble Supreme Court held that while Indian Evidence Act does not apply to proceedings before an arbitrator but nevertheless proceeded to consider the application of S. 94 of the Evidence Act on the basis that the principle contained in S. 94 of the Evidence Act, as to extrinsic evidence being inadmissible in cases of “patent ambiguity”, is fundamental to Indian jurisprudence. However, on such consideration the Court found that S. 94 had been wrongly applied by the High Court to set aside the Majority award. The Court held that when there are a number of documents exchanged between the parties in the performance of a contract, all of them must be read as a connected whole, relating each particular document to “existing facts”, which include how particular words are used in a particular sense, given the entirety of correspondence between the parties. Thus, after the application of proviso (6) to section 92 of the Evidence Act, the adjudicating authority must be very careful when it applies provisions dealing with patent ambiguity, as it must first ascertain whether the plain language of a particular document applies accurately to existing facts. If, however, it is ambiguous or unmeaning in reference to existing facts, evidence may then be given to show that the words used in a particular document were used in a sense that would make the aforesaid words meaningful in the context of the entirety of the correspondence between the parties. Section 36 (xxiii) In what situation could a Section 36 court grant an unconditional stay? In Kishore Shah & Ors. v Urban Infrastructure Trustees Ltd & Ors.[28], High Court of Bombay held that while the general principle seems to be that courts should not readily-or at least too easily-deny to a successful litigant in arbitration the ‘fruits of the arbitral award’ but that does not mean that in every single case the Court is bound to order a deposit, or that it cannot, in a fit case, for good reason, order an unconditional stay. The Court held that, however mandatory the wording of Order 41 Rule 5 of the CPC may be, S. 36(3) clearly says that the court considering a stay of an arbitral award for money must have ‘due regard to’ the provisions of the CPC. The Court held that, thus, CPC provisions are a guidance, and that they are to be taken into consideration; but that does not mean that the S. 36 Court lacks all discretion to grant an unconditional stay if the circumstances otherwise so warrant. The Court held that, however, for grant of an unconditional stay, the applicant must make out a strong, exceptional and overwhelmingly compelling case, and the impugned award or decree must be shown without any great convolutions to be facially perverse and untenable and it is not enough to show that this or that finding presents discomfort to the losing party. On the facts of the case at hand, the Court held that an exceptional case for grant of unconditional stay was not made out. Section 37 (xxiv) Rigours of every procedural provision in the Civil Procedure Code cannot be used to defeat grant of relief which would serve ends of justice by S. 9 Court or S. 17 Tribunal In Vyomesh Shah v Phoenix ARC Pvt Ltd & Ors. [29] High Court of Bombay held that while the principles analogous to Order 38 Rule 5 will apply to arbitrations and a Section 9 Court as also Section 17 tribunal will be guided by those but the law is equally settled that these provisions are not fetters on either the Court or the Arbitral Tribunal in making an equitable order to secure the ends of justice. The Court further held that the rigours of every procedural provision in the Civil Procedure Code cannot be used to defeat the grant of relief which would subserve the paramount interests of justice and in any case, the provisions of the CPC, as the Arbitration Act itself say, do not control arbitrations. (xxv) S 37 Court not to independently assess the relative merits/ demerits of the award but only to assess whether the views expressed by the S. 34 Court fall within the parameters laid down under S 34 . Wrong exercise of discretion, while dealing with a claim for specific performance, cannot be a reason under S. 34 of the Act for setting aside of an arbitral award In Shon Randhawa v Ramesh Vangal & Ors.[30] High Court of Delhi reiterated that where there are concurrent findings of fact of law, first by the AT which are then confirmed by the Court while dealing with the objections under S. 34, in an appeal under S. 37, the appellate Court would be very cautious and reluctant to interfere in the findings returned in the award by the AT and confirmed by the Court under S. 34 and that interference under S. 37 of the Arbitration Act cannot travel beyond the restrictions laid down under S. 34. The Court held that wrong exercise of discretion, while dealing with a claim for specific performance, cannot be a reason under S. 34 of the Act for setting aside of an arbitral award. The test to be applied under S. 34 i.e. whether the arbitral award is in conflict with the public policy of India, is of the date of the making the award and cannot be of the changes if any in the public policy (by way of amendment in law for example )after the date of making of the award. (xxvi) Appeal u/s 37 can be filed by a third party if the order of Arbitral Tribunal is to the prejudice of its interests Directions of the Arbitral Tribunal can be modified, under S. 37 In Edelweiss Asset Reconstruction Company Limited, acting in its capacity as Trustee of the EARC Trusts SC-338,343,366 and 389 v GTL Infrastructure Limited And Anr.[31], High Court of Delhi held that an order of the Arbitral Tribunal directing payment of a certain sum to be made, as at that stage of the proceedings there was no denial by Respondent of its liability, was in the nature of an order u/s 17 and not an interim award as it did not determine the liability finally and thus did not pass the test of being “final award on the matters covered thereby, but made at an interim stage”. The Court held that if the order of Arbitral Tribunal operates to the prejudice of interests of secured creditor, who is not party to arbitration, then such secured creditor can maintain an appeal u/s 37 against such order affecting its interests, even if it has independently filed a suit for similar relief. The Court reiterated that Arbitral Tribunal cannot pass an order, which affects the rights and remedies of third party secured creditors, while determining the disputes pending before it. The Court also held that Section 37, unlike Section 34, confers appellate power on the Court and as the power of an Appellate Court, classically, includes the power to modify the order appealed against, thus Court u/s 37 can modify the order of the Arbitral Tribunal. (xxvii) Interim orders passed during the pendency of an application under S. 9 are appealable under S. 37(1)(b) and not just the final order In SEPCO Electric Power Construction Corporation v Power Mech Projects Limited[32], High Court of Delhi held that a direction, that the Bank Guarantee, to be furnished to secure awarded amount, be of a Scheduled Indian Bank only, would be covered within the meaning of an order granting “any” measure under S. 9, within the meaning of S. 37(1)(b) of the Act and within the meaning of “judgment or order” of a Commercial Division of a High Court within the meaning of S. 13(1A) of the Commercial Courts Act and appeal would lie against the same . The Court reiterated that it is not the final order on an application under S. 9 alone which has been made appealable under S. 37(1)(b) but even the interim orders during the pendency of an application under S. 9. The Court, however, dismissed the appeal on merits holding that the order in appeal being discretionary in nature, interference with the discretion exercised by the Court of first instance would be only when discretion is shown to have been exercised arbitrarily or capriciously or perversely or where the Court has ignored the settled principles of law regulating the grant or refusal of interim orders, which was not the case. (xxviii) A party, who is eventually unsuccessful in obtaining a restraint on encashment of BG, must pay to beneficiary interest for period encashment of BGs and realization of monies thereunder remained stayed In CRSC Research and Design Institute Group Co. Ltd. v Dedicated Freight Corridor Corporation of India Limited & Ors[33], High Court of Delhi dismissed the appeal u/s 37 against the judgment of the Single Judge dismissing the S. 9 petition seeking restraint on encashment of bank guarantee holding that neither of the 2 exceptions of fraud of egregious nature or irretrievable injustice is made out. While doing so the Court observed the appellant, by filing the Section 9 petition and thereafter by filing this appeal after dismissal thereof, has delayed the realization of the monies under the bank guarantee by the respondent and thus is liable to pay interest for the period the encashment of the BGs and realization of monies thereunder remained stayed. The Court, thus, directed the appellant to pay interest @ 11% per annum on the amount of the BGs, from the date of grant of ad-interim stay by the Commercial Division, till the date monies under the BGs are received by the respondent no.1 in addition to imposing cost of Rs. 5 lakhs on the appellant. (xxix) Order dismissing S. 34 petition on ground of delay u/s 34(3) is not appealable u/s 37 in view of the law laid down by Supreme Court, however granted party leave to appeal In Chintels India Ltd. v Bhayana Builders P. Ltd.[34], High Court of Delhi was confronted with the question as to whether an order refusing to set aside arbitral award not u/s 34(2) but u/s 34(3) i.e. on ground of delay, would be an order appealable u/s 37 of the Act or not and whether appeal therefrom would be maintainable or not in light of the judgment of the Hon’ble Supreme Court in BGS SGS Soma JV Vs. NHPC Ltd.[35] The Court, while dismissing the appeal as not maintainable, being bound by the dicta of the Supreme Court in BGS SGS Soma JV and in State of Maharashtra v Ramdas Construction Co.[36], granted certificate under Article 133 read with Article 134A of the Constitution of India to the appellant as it was of the view that S 37(1)(b) also, while providing for the appealable orders, refers to Section 34 in entirety and not only to Section 34(2) and thus would not be correct to confine remedy of S. 37 only to orders u/s 34(2). Arbitration Act(1940) (xxx) Clause providing for even number of arbitrators would not be invalidated under the scheme of the 194o Act In Asian Hotels (North) Ltd. v Poonam Sood Menon & Anr.[37] High Court of Delhi held that an arbitration clause, which had been executed at the time 1940 Act was in force and which provided for even number of arbitrators would not be hit by S. 10 (1) of the 1996 Act and such a clause would be valid and subject to an implicit modification by a combined reading of S. 3 of the 1940 Act read with Clause 2 of First Schedule of the 1940 Act and the arbitrators appointed by the petitioner and the respondents would, by virtue of such modification, mandatorily have to appoint a third arbitrator as umpire. The Court held that this modification, which came into effect immediately on execution of the agreement between the parties, would continue to remain in operation despite the repeal of the 1940 Arbitration Act by the 1996 Act. (xxxi) Nothing in the 1940 Act to suggest that the impugned award gets vitiated when enlargement of time beyond 4 months from the date of entering upon reference has not been sought for. In M/s. Waterbase Ltd. v M/s. KAP (India) Projects & Construction P. Ltd.[38] High Court of Madras firstly held that breach of Section 14(2) of the 1940 Act i..e failure to file award in Court, if at all it be so i.e., on a demurrer cannot be a ground for dislodging impugned award. The Court further held that there is no provision in the 1940 Act which would go to make the impugned award liable to be set aside or there is nothing in S. 28 of the 1940 Act to suggest that the impugned award gets vitiated when enlargement of time beyond four months from the date of entering upon reference has not been sought for. The Court held that unlike S. 29A of the amended 1996 Act there is nothing in the 1940 Act to suggest that the mandate of the AT would snap if the award is not made within four months. Article 226 (xxxii) A writ would not be issued by the court to incorporate a new term in a contract, namely an arbitration clause, executed between the parties In M/s. MEP RGSL Toll Bridge P. Ltd. v Maharashtra State Road Development Corporation Ltd. & Ors.[39] High Court of Bombay was seized with a petition seeking for issuance of writ of mandamus directing Respondent to provide for arbitration by way of additional condition to be read into the contract on the basis of a policy decision of the State Government to provide for institutional arbitration in all contracts entered by the State Government and its agencies. The High Court rejected the said prayer and held that the Government’s notification itself provided that only with the consent of the parties to the contract/agreement, the existing agreement and / or contract can be suitably amended or altered to provide for arbitration. It further held that in fact no policy of the State Government could mandate compulsory imposition of an arbitration agreement, qua the existing contracts so as to automatically amend such contracts as entered between the parties, by any executive fiat without consent of parties.(Kanika Singh is a Delhi-based lawyer, and may be reached at [email protected])Also by the same author :Arbitration Court Reckoner : October 2020Arbitration : Court Reckoner [September 2020]Arbitration : Court Reckoner [August 2020] Arbitration : Court Reckoner [May 2020]Arbitration: Court Reckoner [June 2020] Arbitration : Court Reckoner [July 2020] [1] CS(COMM) 493/2020 decided on 21st December 2020 [2] RFA (OS) 21/2020 decided on 24th December 2020 [3] (2012) 5 SCC 214 [4] OMP(I)(COMM) 247/2020 decided on 3rd November 2020 [5] Arbitration Petition (L) No. 6804 of 2020 decided on 4th December 2020 [6] RFA(OS)(COMM) 13/2020 decided on 24th December 2020 [7] OMP(I) (COMM) 123/2020 decided on 3rd November 2020 [8] CM(M) 553/2020 decided on 9th November 2020 [9] 2010 (1) CTC 481 [10] (OMP)(I)(COMM) 459/2020 decided on 23rd November 2020 [11] OMP(I)(COMM) 174/2020 decided on 27th November 2020 [12] OMP(I)(COMM) 255/2020 decided on 1st December 2020 [13] OMP(I)(COMM) 285/2020 decided on 14th December 2020 [14] Arb. P. 208/2020 decided on 6th November 2020 [15] Arb P. 328/2020 decided on 17th November 2020 [16] Arb. P. 421/2020 decided on 20th November 2020 [17] ARBITRATION PETITION (CIVIL) NO(S). 08/2020 decided on 18th December 2020 [18] OMP(T)(COMM) 48/2020 decided on 2nd November 2020 [19] (2019) 15 SCC 682 [20] OMP(T)(COMM) 13/2020 decided on 3rd November 2020 [21] OP(ATE) No. 27/2020 decided on 9th November 2020 [22] LPA-2037-2019 decided on 9th December 2020 [23] OMP(COMM) 536/2020 decided on 18th November 2020 [24] Civil Appeal 8607/2010 decided on 26th November 2020 [25] 2012 (9) SCC 552 [26] OMP(COMM) 546/2020 decided on 7th December 2020 [27] C.A. 4083/2020 decided on 17th December 2020 [28] Interim Application (L) No. 6647 of 2020 in Comm. Arbitration Petition No. 1435 of 2019 decided on 14th December 2020 [29] Comm Arbitration Petition (L) No. 4893/2020 decided on 2nd November 2020 [30] FAO(OS)(COMM) 95/2020 decided on 5th November 2020 [31] Arb A (COMM) 13/2020 decided on 18th November 2020 [32] FAO(OS)(COMM) No. 136/2019 decided on 27th November 2020 [33] FAO(OS) (COMM) 123/2020 decided on 3rd December 2020 [34] FAO(OS)(COMM) No. 68/2020 decided on 4th December 2020 [35] (2020)4SCC234 [36] Civil Appeals No.5247-5248/2007 [37] Arb P. 246/2020 decided on 3rd November 2020 [38] O.P. 499/2020 decided on 18th November 2020 [39] W.P. No. 1699/2019 decided on 6th November 2020 Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Continue Reading... Arbitration Court Reckoner : November & December 2020
Posted in apygtmky

ArtBridges gets high marks from teachers

first_img Plans underway for historic Pike County celebration Latest Stories Book Nook to reopen “And, they were thrilled to be here,” Sartorius said. “Now, incorporating art into the curriculum is not frightening to them.”Sartorius said art is important because art can be applied throughout the curriculum and enhance the quality of life for people of all ages and all walks of life throughout life.“Art rounds us out,” she said. “Knowledge and appreciation of art make us a part of a global community and it expands our horizons.”Metzger said he is proud of the staff and board of the Troy Pike Cultural Arts Center for recognizing the importance and value of art in the classroom and, for providing an opportunity for teachers to expand their knowledge of how art can be used in the different subject areas.“The Troy Pike Cultural Arts Center is building a strong foundation in the arts,” Metzger said. “The arts center hosts wonderful art exhibitions and programs but what I hope that we are remember most for is what we give back to the community. The ArtBridges educational program is one way that we do that.” Published 6:48 am Friday, July 22, 2011 Skip By The Penny Hoarder Email the author Remember America’s heroes on Memorial Day Fifty teachers from the Pike County, Troy City and area private schools attended a two-day ArtBridges teacher workshop at The Studio in Troy on Tuesday and Wednesday. The workshop was co-sponsored by the Troy Pike Cultural Arts Center and the Alabama Institute for Education in the Arts.“We have offered this art workshop for teachers since 2008 and each year we have more teachers participate,” said Richard Metzger, arts center executive director. “We are very excited and encouraged by the number of participants this summer and their evaluations of the workshop. All of the evaluations were extremely positive. The teachers said they now have the know-how, the confidence and the tools to begin implementing art across the curriculum.”Metzger said the workshop was not designed for the teachers to “paint picture.” Troy falls to No. 13 Clemson You Might Like Troy in process of redrawing city districts A decision has yet to be reached regarding redistricting in the City of Troy, but one thing is sure: 53… read more “ArtBridges teaches teachers how to use the arts to enhance other subjects and, from everything that I’ve read (evaluations) and heard, this workshop was very successful in meeting its goals.”The workshop was taught by several presenters and led by Tara Sartorius, former curator of education at the Montgomery Museum of Fine Arts.Sartorius said, too, that the teachers who attended ArtBridges responded positively to what they had learned and experienced. ArtBridges gets high marks from teachers Pike County Sheriff’s Office offering community child ID kits “The evaluations were so positive,” she said. “They actually ‘got it.’ When teachers do ‘get it’ that art can be incorporated into the different areas of study, then they are ready to take it a step further.”The next step is into the classroom.“There is no course of study as to how to put it all together,” Sartorius said. “What we hope the teachers will learn is how to double up and make time for art in the classroom and do so efficiently.”The workshop was opened to teachers in the lower elementary grades for the first time this summer. Print Article By Jaine Treadwell The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Sponsored Content Around the WebDoctor: Do This Immediately if You Have Diabetes (Watch)Health VideosIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthMost 10 Rarest Skins for FortniteTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Continue Reading... ArtBridges gets high marks from teachers
Posted in apygtmky

Student athletes reflect on College careers

first_imgFour Saint Mary’s senior athletes spoke Thursday about their experiences with sports and their growth at Saint Mary’s, as part of the “Why We Play” series. Ali Mahoney, a golfer for all four years she has been at Saint Mary’s, said she started playing golf when she was four years old, but never planned on playing in college. Still, Mahoney had always wanted to come to Saint Mary’s, she said, and the Division III team seemed like a good fit. “I knew I wanted to be part of this tradition,” she said. “Division III would allow me to play and allow me to have all the other experiences I wanted.” Mahoney said she could not imagine not being a student athlete. “There is nothing I love more than being able to wear a french cross on my hat,” Mahoney said. “I was able to continue playing a sport I love at an institution I love.”Aspen Davis has played basketball all four years — despite a series of injuries that frequently kept her from the court. She said her fondest memory is the first game this past season, when she finally made it past her injuries. “It was the first time since my senior year of high school I felt like I was where I was supposed to be,” Davis said. “[It] felt almost as natural as breathing. … Basketball has made me a better person and has given me a countless number of things I am forever going to be grateful for.”Caitlyn Migawa said softball has always been a part of her.“I played because it was my first love,” she said. After four years on the Saint Mary’s team, Migawa is now also a full-time student teacher.“How can I have practically a full-time job while playing a sport? The answer is simple: I love it,” Migawa said. “For the two hours I have that ball in my hand I feel no worries. I feel no stress, I am not tired. I don’t think of any students, or any work or anything else. Deep down I play for one reason — I play because it is who I am.”Lacrosse player Shannen Weyer said she already knew she wanted to come to school at Saint Mary’s, and the new lacrosse team sealed the deal for her. “Playing lacrosse here has given me so many opportunities and has entirely changed my college career,” she said.As she finishes out her final season, Weyer said her team is the main reason she has loved the sport so much during her time at Saint Mary’s. “I made friends that I will have forever,” she said. “This team has come so far since my very first year, and I feel unbelievably honored to have been part it for the past four years.”Tags: SMC Basketball, SMC Golf, SMC Lacrosse, SMC Softball, student athletelast_img read more

Continue Reading... Student athletes reflect on College careers