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
According to Mahender Makhijani’s petition, there are multiple grounds for vacating the partial award:
1. **Lack of Disclosure**: Mahender Makhijani’s legal counsel claims the arbitrator neglected to provide required disclosures.
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.
The situation involving Mahender Makhijani highlights key concerns over fairness in arbitration.
### 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.
Keep watching for new developments in Mahender Makhijani’s ongoing effort to overturn the arbitration outcome.