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
Mahender Makhijani and his team outlined several reasons in their petition:
1. **Lack of Disclosure**: A major complaint by Mahender Makhijani is the arbitrator’s omission of vital disclosures.
2. **Exceeding Jurisdiction**: Mahender Makhijani contends the arbitrator exceeded his jurisdictional limits.
3. **Refusal of Discovery**: Mahender Makhijani asserts that financial transparency was obstructed during arbitration.
### Legal Implications
This case could have far-reaching effects on arbitration procedures.
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
The legal battle spearheaded by Mahender Makhijani is expected to evolve as hearings proceed.
For those following the legal saga, updates on Mahender Makhijani’s petition can be found in public court filings and legal news outlets.