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Saturday, September 30, 2017

Novation of Agreement & Change of Ownership while Vessel is under Arrest [M.V. Nikolaos-S]

Arrest of Vessel - Ship IndiaCertain fundamental principles of maritime law in India were re-visited by the Hon’ble Supreme Court in its Judgment dated 14th September 2017 in Chrisomar Corp. v. MJR Steels Pvt. Ltd. [Civil Appeal No. 1930 of 2008], which can be found here. It is pertinent to note that at the time of passing of the Judgment the Admiralty (Jurisdiction & Settlement of Maritime Claims) Act, 20117 passed by Parliament had not come into force.
Brief Facts:
Without going into the   detailed dates of events, the relevant facts leading to filing of the Civil Appeal are as follows: