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 beyond the scope of his powers.
### Grounds for Vacating the Award
Mahender Makhijani and his team outlined several reasons in their petition:
1. **Lack of Disclosure**: The arbitrator allegedly failed to disclose conflicts of interest that could have influenced his decisions.
2. **Exceeding Jurisdiction**: Jurisdictional overreach is another issue raised by Mahender Makhijani’s petition.
3. **Refusal of Discovery**: According to Mahender Makhijani, the arbitrator improperly blocked discovery into financial misconduct.
### Legal Implications
The petition by Mahender Makhijani may set a legal precedent for future arbitration challenges.
Mahender Makhijani’s challenge is being analyzed for its implications on investor rights and arbitration law.
### The Petitioners
Mahender Makhijani, along with Continuum Analytics and various MOM entities, are seeking legal remedies.
### 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.