2018 was a rather interesting year for India’s evolving arbitration landscape. Among other things, last year witnessed several clarificatory decisions on arbitration that were much needed for much long. While Parliament was preparing to enact yet another amendment to the Arbitration and Conciliation Act, 1996 (Arbitration Act), Indian courts continued to interpret and flesh out … Continue reading IAB Annual Review: India’s Key Judicial Developments on Arbitration Law in 2018
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India’s See-sawing Approach to Section 11 – Good Sense Prevails
This guest post is authored by Rishabh Malaviya. Rishabh is an advocate at Arista Chambers, Bangalore. He can be contacted via email at malaviyarishabh@gmail.com. The Indian Supreme Court’s recent decision in the case of United India Insurance Co. Ltd. & Anr. v Hyundai Engineering and Construction Co. Ltd. & Ors. is a welcome (albeit partial) clarification of … Continue reading India’s See-sawing Approach to Section 11 – Good Sense Prevails
Supreme Court’s Modification of Dual Interest Rate in India-seated ICA Award: An Unwarranted Interference?
Disputes arose between Vedanta and Shenzen Shedong under four EPC contracts; each providing for arbitration seated in Mumbai governed by Indian law. While Shenzen sought damages in US Dollars, Euros and Indian Rupees, the tribunal allowed only the latter two. The tribunal also awarded a 9% uniform interest on the decretal amount, calculated from the … Continue reading Supreme Court’s Modification of Dual Interest Rate in India-seated ICA Award: An Unwarranted Interference?
Arbitral Award held Enforceable even against Non-parties to Agreement and Arbitration Proceedings
In a well reasoned judgment dated 24 April 2018, a full bench of the Supreme Court (SC) in Cheran Properties Limited v Kasturi and Sons Limited (Cheran Properties Ltd.) has observed that arbitral awards are binding on and enforceable even against persons who are neither party to the arbitration agreement nor the arbitration, when such non-party … Continue reading Arbitral Award held Enforceable even against Non-parties to Agreement and Arbitration Proceedings
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