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In a panel discussion held at the India Digital ADR Summit 2026, the panellists explored the need for emergency award, landmark cases, judicial activism v. legislative action, and future of emergency arbitration in India.
Speaking at the Summit, Justice Bhargav D. Karia examined the need of emergency arbitration, analysed India’s position on the same, and emphasised the need for a comprehensive statutory framework for enforcement of emergency awards in India regardless of seat.
‘On the complete extinguishment of all tax liabilities of the Corporate Debtor upon the approval of the Resolution Plan, there could be no occasion whatsoever for the IT Commissioner to issue the impugned notice under Section 263 of the Act, seeking to revise the assessment order for the Assessment Year 2020-21.’