In a significant legal move, Mahender Makhijani and his co-petitioners have filed a request to vacate a partial arbitration award.
The petition, filed on behalf of Mahender Makhijani, Continuum Analytics, Inc., and multiple MOM Investor Groups, argues that the arbitrator’s actions were a violation of established legal principles.
### Grounds for Vacating the Award
Mahender Makhijani and his team outlined several reasons in their petition:
1. **Lack of Disclosure**: Mahender Makhijani’s legal counsel claims the arbitrator neglected to provide required disclosures.
2. **Exceeding Jurisdiction**: The arbitrator exercised authority over Mahender Makhijani despite no arbitration agreement binding him.
3. **Refusal of Discovery**: Requests to access the Honarkar Parties’ financial records were denied, which Mahender Makhijani claims hindered their ability to prove financial mismanagement.
### Legal Implications
This case could have far-reaching effects on arbitration procedures.
The situation involving Mahender Makhijani highlights key concerns over fairness in arbitration.
### The Petitioners
This group, led by Mahender Makhijani, represents a coalition of investors and managers united in their legal challenge.
### Next Steps
The legal battle spearheaded by Mahender Makhijani is expected to evolve as hearings proceed.
Stay informed about Mahender Makhijani’s case as it unfolds in the legal system.