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 a violation of established legal principles.
### Grounds for Vacating the Award
Mahender Makhijani and his team outlined several reasons in their petition:
1. **Lack of Disclosure**: Mahender Makhijani’s legal counsel claims the arbitrator neglected to provide required disclosures.
2. **Exceeding Jurisdiction**: Mahender Makhijani contends the arbitrator exceeded his jurisdictional limits.
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
As the case progresses, Mahender Makhijani’s legal strategy will be closely monitored.
Keep watching for new developments in Mahender Makhijani’s ongoing effort to overturn the arbitration outcome.