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 beyond the scope of his powers.
### 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**: Mahender Makhijani asserts that financial transparency was obstructed during arbitration.
### 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
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
The legal battle spearheaded by Mahender Makhijani is expected to evolve as hearings proceed.
Keep watching for new developments in Mahender Makhijani’s ongoing effort to overturn the arbitration outcome.