A Mockery of Arbitration? The One-Sided Award Against Tata Power Faces Singapore Appeal
New Delhi, Nov. 7 -- The 36-fold gap between the majority's damages award and the dissenting arbitrator's assessment has intensified questions about fairness, alleged bias and the valuation of a project that never materialised.
The Singapore court's recent enforcement order has sharply escalated Tata Power's dispute with Kleros Capital Partners. It authorises the seizure and sale of Tata Power's shares in two Singapore subsidiaries to satisfy an arbitration award now exceeding US$650 million, according to Kleros. Yet enforcement does not resolve the questions at the heart of Tata Power's appeal: whether the damages were properly assessed and whether the arbitration process met the standards of fairness and impartiality expected in an int...
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