By vesting the authority to decide on a group of companies with the arbitral tribunal, the Supreme Court has given greater powers to the process of arbitration, say experts, and also removes any confusion on who can be party to a dispute
The subsidiaries were incorporated and registered with the Registrar of Companies, Gujarat at Ahmedabad on October 3, 2022 and are yet to commence its business operations.
The definition of the term 'associates' which has been at the centre of the controversy has been defined in the Companies Bill of 2011, reports CNBC-TV18's Malvika Jain.