Arbitration agreements require careful drafting

By Vivek Vashi,Bharucha & Partners
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In Nandan Biomatrix Ltd v D-1 Oils Ltd, decided on 11 Feburary, the Supreme Court restated the essential ingredients of a valid arbitration agreement.

Nandan and D-1 entered into a supply agreement on 10 August 2004 followed by a joint venture agreement on 30 September 2004 and a research and development agreement on 26 November 2004.

Terms of agreement

Under the supply agreement, Nandan agreed to set up nurseries to grow jetropha seeds meeting the requirements of D-1, and D-1 agreed to invest a substantial amount with Nandan.

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Vivek Vashi is the mainstay of the litigation department at Bharucha & Partners. Bharucha & Partners is a full-service firm with practice areas including litigation, international and domestic arbitration, intellectual property, real estate, M&A, corporate restructuring, joint ventures and private equity.

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