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3 days ago · Attempts to challenge the award before Indian courts bore no fruit. Judge Coleman pointed to one particular finding of an Indian court which held, “having received the entire funds under the SPA, the respondents are now entangling the petitioners before every possible Police Station, Tribunal and Court while refusing to discharge their obligations under the SPA."
2 days ago · The U.S. Court set aside the award against Damodaran, citing lack of evidence supporting his liability, and remanded the case back to the tribunal for further consideration. However, challenges by other respondents were rejected, and the tribunal’s ruling against them remains intact. The U.S. Court stated that, "Damodaran’s case is not over."
3 days ago · An US court has set aside an award passed by a Chicago-based arbitral tribunal against former Sebi chief M Damodaran. In March this year, the tribunal had held Damodaran to pay around $25 million ...
3 days ago · US Court Vacates $25 Million Arbitral Award Against Former SEBI Chairman M. Damodaran A United States court has vacated a $25 million arbitral award against M. Damodaran, former Chairman of the Securities and Exchange Board of India (SEBI), stemming from a contractual dispute with American healthcare firm UpHealth. The decision was made by Judge Sharon Johnson Coleman of the Northern District of Illinois while addressing UpHealth's request to enforce the award.
2 days ago · The court set aside the award against Damodaran while holding that there was no evidence in the record to hold him liable for damages. THE DISPUTE The award was rendered in relation to a share purchase agreement between UpHealth, Glocal Healthcare Systems Private Ltd (Glocal) (an India-based healthcare company), certain shareholders/directors of Glocal and Damodaran.
Jun 28, 2024 · In a major ruling, the Supreme Court on Friday cut back sharply on the power of federal agencies to interpret the laws they administer and ruled that courts should rely on their own interpretion of ambiguous laws. The decision will likely have far-reaching effects across the country, from environmental regulation to healthcare costs.
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Was there evidence on record against M Damodaran?
How much did Damodaran pay to uphealth holdings?
Does the court grant Damodaran's motion to vacate?
Why did the Supreme Court overrule a 40-year-old Supreme Court decision?
Jun 28, 2024 · The Supreme Court overruled a 40-year-old decision that said federal courts should defer to agencies in certain cases. Here's what it means.
