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The Court said that governmental entities must be treated in a similar fashion to private parties insofar as proceedings under the Arbitration Act are concerned, except where otherwise indicated by law.
On 2-1-2023, the Ministry of Finance has notified the Securities Contracts (Regulation) Amendment Rules, 2022 to amend the Securities Contracts
“There is a trend of poorly pleaded public interest litigations being filed instantly following a disclosure in the media, with a conscious intention to obtain a dismissal from the Court and preclude genuine litigants from approaching the Court in public interest.”