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The Court held that unilateral appointment of the Arbitrator without the petitioner’s consent could render the award void under Section 34 of the Arbitration and Conciliation Act, 1996
Supreme Court upheld the High Court’s decision and emphasised the need for early enforcement of the foreign award by the competent forum.
If the part of an Award proposed to be annulled is independent, stands unattached to the other part and can be validly incised, the partial setting aside would be valid and justified. The same also applies to execution proceedings.
At this juncture, examining whether the petition filed before the NCLT can be said to be a ‘dressed-up’ petition, would necessarily require a detailed exercise to be carried out by this Court to render findings either way clearly impinging upon the exclusive jurisdiction of the NCLT in deciding such a question.
A Single Judge Bench of Chandra Dhari Singh, J. disposed of the petition and restrained from invoking/encashing the bank guarantee.
The High Court of Madras recognised the foreign arbitration award pronounced by the Singapore International Arbitration Centre (‘SIAC’) and found that the respondents have failed to establish any ground for refusing the recognition of foreign award.
The Delhi High Court Delhi dismissed plea for constituting independent tribunal or committee to oversee enforcement of the Foreign Contribution (Regulation) Act, 2010 (FCRA) and held that mere apprehension that the Act was capable of being misused was no ground to create an independent body to oversee the functioning of the FCRA.
Securities and Exchange Board of India: The Board comprising G. Mahalingam as Whole Time Member, allowed Oil India’s application seeking exemption/relaxation from
G.S.R. 581 (E).—In exercise of the powers conferred by sub-section (1) of Section 156 of the Customs Act, 1962 (52 of 1962),
High Court of Delhi: In a petition filed by a Switzerland based company for the enforcement of a foreign arbitral award against