Bombay HC upholds previous order on attachment of assets under foreign arbitration awardJuly 5 2018
A Division Bench of the Bombay High Court has upheld a previous order passed by a Single Judge that allowed attachment of Indian assets of the company against which a foreign award was passed.
On 25 January 2017, an award was passed against Heligo Charters Pvt. Ltd for a sum of $7 million (Rs.46 Crores). Heligo, however, failed to pay the awarded amount. The award was passed in Singapore and the arbitration agreement was also governed by Singapore Law.
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