(Sanjay Kumar and K. Vinod Chandran, JJ.)
Special Leave Petition (Civil) Nos. 31866-68 of 2025, decided on March 25, 2026
Nagaraj V. Mylandla ______________________________ Appellant;
v.
PI Opportunities Fund-I and Others _______________ Respondent(s).
With
Special Leave Petition (Civil) Nos. 31945-31947 of 2025
Special Leave Petition (Civil) Nos. 31866-68 of 2025 and Special Leave Petition (Civil) Nos. 31945-31947 of 2025§
The Judgment of the Court was delivered by
Sanjay Kumar, J.:—
1. Enforcement of a foreign arbitral award is in issue.
2. By common order dated 22.09.2025, a learned Judge of the High Court of Judicature at Madras held the award dated 05.07.2024 passed by a 3-member arbitral tribunal, under the aegis of the Singapore International Arbitration Act, 1994, and the Arbitration Rules of the Singapore International Arbitration Centre, to be enforceable and deemed it to be a decree under Section 49 of the Arbitration and Conciliation Act, 19961. He, accordingly, passed a decree in terms of the said award against Nagaraj V. Mylandla and Sharada Mylandla2, the directors of Financial Software and Systems Private Limited3, Chennai. Aggrieved thereby, the Mylandlas filed this batch of special leave petitions.
3. The impugned common order dated 22.09.2025 was passed in Arbitration O.P. (Comm. Div.) Nos. 285, 452 and 453 of 2024. These three petitions were filed by PI Opportunities Fund-I, Bangalore; Millenna FVCI Limited (formerly, NEA FVCI Limited), Mauritius; and lastly, NYLIM Jacob Ballas India (FVCI) III LLC along with NYLIM Jacob Ballas India Fund III LLC, Mauritius, under Sections 47 to 49 of the Arbitration Act, seeking a declaration that the arbitral award dated 05.07.2024 passed in SIAC Arbitration No. 098 of 2022 is enforceable; to deem it to be a decree of the Court; and, consequently, direct respondent Nos. 2 and 3 therein, viz., the Mylandlas, to jointly and severally pay the awarded damages, interest, and costs. Other directions were also sought in furtherance thereof.
THE FACTS
