Patent Illegality: Bombay High Court Stays Arbitral Award Due to Lack of Proof of Actual Loss in Damages Claim

In a significant legal development, the High Court of Judicature at Bombay has issued an order in Interim Application No. 377 of 2024 pertaining to a Commercial Arbitration Petition. The case involves a dispute between Alkem Laboratories Limited as the Petitioner and Issar Pharmaceuticals Pvt. Limited as the Respondent. Overview of the Case: The core issue revolved around an unconditional stay sought by the Petitioner on an impugned Award dated…