In the first successfully concluded London Court of International Arbitration proceedings in India, Karanjawala & Co and Pepper Hamilton LLP have resolved the multi-million dollar Hiranandani dispute.
The team from Karanjawala & Co consisted of Raian Karanjawala, Manik Karanjawala, Ruby Singh Ahuja, Ruchira Gupta Jatin Mongia and was led by Senior Advocate Abhishek Manu Singhvi. The Pepper Hamilton team, included Partners Matthew Adler and Jeremy Heep, and Associates Lydia Furst and William Taylor
The arbitral panel consisted of three, equally high-profile individuals: Queens Counsel and former First Lady of Britain, Cherie Blair, Freshfield’s Lucy Reed, and ex-Chief Justice of Delhi, Justice AP Shah.
The dispute can be traced back to a claim filed by Priya Hiranandani- Vandrevala against her father, Niranjan and brother, Darshan over the alleged violation of a business association agreement signed in 2006.
As per this report, the violation related to the,
“..nearly 28 real-estate projects valued at around Rs 3,000 crore, which Priya says flout the agreement, which required Priya, Niranjan and Darshan to exclusively transact with each other while buying and developing land.”
Speaking to Bar & Bench, Karanjawala’s Ruby Singh Ahuja said that the team was highly satisfied with the outcome. She also said that, apart from the quality of the arbitral panel, it was the LCIA’s efficiency that proved to be a great benefit to the timely resolution of the disput . “It was a very efficacious set up,” said Ruby about the LCIA, “they offered a host of services and even minor details were taken care of.”