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
The petition from Mahender Makhijani highlights these core arguments:
1. **Lack of Disclosure**: Mahender Makhijani’s legal counsel claims the arbitrator neglected to provide required disclosures.
2. **Exceeding Jurisdiction**: The arbitrator exercised authority over Mahender Makhijani despite no arbitration agreement binding him.
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
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
Courts will now review Mahender Makhijani’s arguments to determine whether the partial award should be vacated.
Keep watching for new developments in Mahender Makhijani’s ongoing effort to overturn the arbitration outcome.