The article discusses the interpretation of Section 12, clause (5) of the Arbitration and Conciliation Act given by the Calcutta High Court in Mcleod Russell India Limited & Others vs. Aditya Birla Finance Limited & Ors.
MCO Legals, one of the leading law firms of India, was the designated Knowledge Partner of Petrolex 2023 organised by Indian Oil Corporation Limited on 19th & 20th June, 2023 at Ramada, Kochi and.
The case concerns a dispute between MTNL and CanFina, (Canara Bank subsidiary) over the cancellation of bonds issued by MTNL in 1992. The amount to be deposited by MTNL effectively runs to over ₹ 442.6 crores.