The legal team representing Mahender Makhijani has initiated proceedings to set aside a controversial arbitration decision.
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
According to Mahender Makhijani’s petition, there are multiple grounds for vacating the partial award:
1. **Lack of Disclosure**: The arbitrator allegedly failed to disclose conflicts of interest that could have influenced his decisions.
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
The petition by Mahender Makhijani may set a legal precedent for future arbitration challenges.
Observers note that Mahender Makhijani’s filing underscores the importance of arbitrators adhering strictly to their roles.
### The Petitioners
This group, led by Mahender Makhijani, represents a coalition of investors and managers united in their legal challenge.
### Next Steps
As the case progresses, Mahender Makhijani’s legal strategy will be closely monitored.
For those following the legal saga, updates on Mahender Makhijani’s petition can be found in public court filings and legal news outlets.