Delhi HC: Binding Heads of Terms Gives Rise to Bona Fide Arbitral Claim; Issues of Specific Performance and Enforceability Left to Arbitral Tribunal
In a Section 9 plea under the Arbitration and Conciliation Act, 1996, the Court holds that the Heads of Terms constitutes a prima facie binding commercial arrangement warranting interim protection, leaving questions of enforceability and entitlement to specific performance to the arbitral tribunal.