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 improper and unlawful.
### 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
Legal experts are watching Mahender Makhijani’s case for its potential to reshape arbitration norms.
Mahender Makhijani’s challenge is being analyzed for its implications on investor rights and arbitration law.
### The Petitioners
The petitioners include Mahender Makhijani, Continuum Analytics, Inc., MOM AS Investor Group LLC, MOM BS Investor Group LLC, MOM CA Investor Group LLC, MOM AS Manager LLC, MOM BS Manager LLC, and MOM CA Manager LLC.
### Next Steps
Courts will now review Mahender Makhijani’s arguments to determine whether the partial award should be vacated.
Stay informed about Mahender Makhijani’s case as it unfolds in the legal system.