Arbitration Proceedings
SC appoints former chief justice as arbitrator in Tata Sons-Siva Ind case
This story was originally published at 17:43 IST on 20 February 2025
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NEW DELHI – The Supreme Court has appointed former chief justice of India U.U. Lalit as the arbitrator for the pending arbitration proceedings between Tata Sons Pvt. Ltd. and Siva Industries and Holdings and others. The earlier arbitrator had withdrawn from the arbitration proceedings in May.
"The proceedings will continue from the existing stage," a bench of Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar said.
The case has its genesis in NTT Docomo acquiring 26% equity shares in Tata Teleservices in 2009. Of the 26%, NTT Docomo acquired 6% of the shares from existing shareholders including Siva Industries and others.
Tata Sons, Tata Teleservices Ltd. and NTT Docomo had signed a shareholders agreement, under which NTT Docomo had an option to sell its shares in Tata Teleservices. Tata Sons, Tata Teleservices and Siva Industries also entered into an agreement, under which the latter was also obligated to buy shares from NTT Docomo, in case the Japanese company exercised its sell option.
NTT Docomo exercised the sale option under the shareholder's agreement in 2015 and a dispute arose between the Tata Sons and NTT Docomo. In the arbitration that followed, the arbitral tribunal ruled in favour of NTT Docomo.
Upon the exercise of the sale option by NTT Docomo, Tata Sons asked Siva Industries to pay INR 6.94 billion as its obligation under the agreement and its share of the award payable to NTT Docomo. However, Siva Industries failed to pay and Tata Sons moved the high court to start an arbitration process. End
Reported by Surya Tripathi
Edited by Saji George Titus
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