The Bombay High Court on Wednesday appointed retired High Court judge Justice SJ Kathawalla as the arbitrator in a contractual dispute between Max Healthcare Institute and Care Hospitals and its investor TPG Inc, a private equity company..In an application by Max seeking urgent relief, single-judge Justice Milind Jadhav directed the parties to instead adjudicate their issues before the arbitrator.He directed the arbitrator to decide the prayer for interim relief within 2 weeks. .Max Healthcare approached the High Court to protect its rights under the term sheet signed with Care Hospitals including Touch Healthcare, Quality Healthcare and Evercare Group Management private to acquire the hospital chain. Quality Care is the company that operates Care Hospitals, while Touch Healthcare and Evercare are part of the US-headquartered fund TPG. Max Healthcare approached the High Court with a plea under Section 9 of the Arbitration and Conciliation Act, 1996 to protect its contractual rights before the arbitration proceedings begin with the Care Hospitals and TPG group hospitals..Senior Advocate Janak Dwarkadas appearing for Max claimed that the respondent companies had assigned third party rights to another company. He sought an order from the court seeking status quo on the third party rights. Dwarkadas claimed that the term sheet signed with Care Hospitals was binding on the parties. They claimed that TPG had ignored its bid and favoured another private equity company Blackstone Inc..Justice Jadhav advised Max Healthcare to proceed with arbitration and raise all arguments before the arbitrator. He expressed his disinclination to proceed with grant of status quo as third party rights had already been created.Justice Jadhav, however, made it clear that he was not expressing anything on the merits of the case..Max Healthcare approached High Court through law firm Nishit Desai Associates (NDA).Care Hospitals and TPG-led hospitals were led by law firm Shardul Amarchand Mangaldas.
The Bombay High Court on Wednesday appointed retired High Court judge Justice SJ Kathawalla as the arbitrator in a contractual dispute between Max Healthcare Institute and Care Hospitals and its investor TPG Inc, a private equity company..In an application by Max seeking urgent relief, single-judge Justice Milind Jadhav directed the parties to instead adjudicate their issues before the arbitrator.He directed the arbitrator to decide the prayer for interim relief within 2 weeks. .Max Healthcare approached the High Court to protect its rights under the term sheet signed with Care Hospitals including Touch Healthcare, Quality Healthcare and Evercare Group Management private to acquire the hospital chain. Quality Care is the company that operates Care Hospitals, while Touch Healthcare and Evercare are part of the US-headquartered fund TPG. Max Healthcare approached the High Court with a plea under Section 9 of the Arbitration and Conciliation Act, 1996 to protect its contractual rights before the arbitration proceedings begin with the Care Hospitals and TPG group hospitals..Senior Advocate Janak Dwarkadas appearing for Max claimed that the respondent companies had assigned third party rights to another company. He sought an order from the court seeking status quo on the third party rights. Dwarkadas claimed that the term sheet signed with Care Hospitals was binding on the parties. They claimed that TPG had ignored its bid and favoured another private equity company Blackstone Inc..Justice Jadhav advised Max Healthcare to proceed with arbitration and raise all arguments before the arbitrator. He expressed his disinclination to proceed with grant of status quo as third party rights had already been created.Justice Jadhav, however, made it clear that he was not expressing anything on the merits of the case..Max Healthcare approached High Court through law firm Nishit Desai Associates (NDA).Care Hospitals and TPG-led hospitals were led by law firm Shardul Amarchand Mangaldas.