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The present case discusses the effect of an arbitral award and the extent to which the courts can assist in execution. It also discusses the processes that are available in the court system for the execution of an arbitral award and the principle of piercing the corporate veil.
The judgment reinforces the finality of foreign arbitral awards in India and provides greater certainty for investors and commercial parties, particularly in sectors such as energy, infrastructure and natural resources, by limiting enforcement-stage challenges based on public policy grounds.
by K.P. Pramodh Kumar*, Ramaswamy Meyyappan** and Fasila Saleem***
In light of the settlement agreement and receipt of ₹5 Crores, the Court vacated the he interim order of injunction and permitted the release the movie ‘Akhanda 2’.