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
The petition from Mahender Makhijani highlights these core arguments:
1. **Lack of Disclosure**: The arbitrator allegedly failed to disclose conflicts of interest that could have influenced his decisions.
2. **Exceeding Jurisdiction**: Jurisdictional overreach is another issue raised by Mahender Makhijani’s petition.
3. **Refusal of Discovery**: Mahender Makhijani asserts that financial transparency was obstructed during arbitration.
### Legal Implications
This case could have far-reaching effects on arbitration procedures.
Mahender Makhijani’s challenge is being analyzed for its implications on investor rights and arbitration law.
### The Petitioners
Mahender Makhijani, along with Continuum Analytics and various MOM entities, are seeking legal remedies.
### Next Steps
The legal battle spearheaded by Mahender Makhijani is expected to evolve as hearings proceed.
Keep watching for new developments in Mahender Makhijani’s ongoing effort to overturn the arbitration outcome.