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The Supreme Court of India recently observed that it has become common practice to effect transfers of immovable property by way of sale agreement, general power of attorney or will transfers in order to evade payment of duties, taxes and other fees payable on transfer and registration. This judgment confirms that a valid transfer of immovable property can occur only through a registered deed of conveyance.
The Supreme Court recently confirmed its view that once a party has finally and fully settled its disputes with another and received the benefits under the settlement, that party cannot later invoke the arbitration agreement in respect of the dispute. The court argued that this would amount to blowing hot and cold at the same time, contrary to the doctrine of estoppel by election.
A Supreme Court ruling recently clarified that where a contract specifically prohibits it, arbitrators do not have the power to grant interest. However, the court ruled that where an agreement between the parties does not prohibit the granting of interest, a party claimed interest and such dispute is then referred to the arbitrator, the arbitrator has the power to award interest pendente lite (ie, pending litigation).