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Showing contexts for: mcdermott in Burn Standard Company Limited vs Mcdermott International Inc. And ... on 3 April, 1991Matching Fragments
The principal question which this Court is called upon to answer in this appeal by special leave is whether the arbitration clause contained in Article XII (Paragraph 12.1) of the Technical Collaboration Agreement entered into at Dubai, United Arab Emirates, on September 25, 1984, between the appellant Burn Standard Company Ltd., a Government of India Undertaking, and the respondent Mcdermott International, Inc., a foreign company, is rendered void by virtue of the agreement itself being ab-initio void for want of general or special permission of the Reserve Bank of India (RBI) under Section 28 of The Foreign Exchange Regulation Act. 1973 (FERA). The relevant part of the said provision reads as under :