Supreme Court of India while dealing with the case of Deep Industries, held that an order passed by allowing or dismissing an application filed under Section.16 of the Arbitration and Conciliation Act,1996 (Herein after “The Act”) cannot be challenged under Article 227 of the Constitution of India and the said order must wait for the final award and then both can be challenged under S.34 of the Act.
The Supreme court of India in its recent judgment, in the matter of PASL Wind Solutions delivered on 20th April 2021, held that two or more Indian parties can resort to a foreign seated arbitration to resolve their disputes and further held that an award that arose out of the foreign seated arbitration can be enforced in India under New York Convention on recognition and enforcement of foreign awards.
The Supreme Court of India vide its Judgment dated April 8, 2021, while disposing of an appeal arising out of an application seeking to appoint an arbitrator under section 11(5) and (6) of the Arbitration and Conciliation Act 1996, held that any dispute arising out of a frustrated settlement from an arbitration must go for arbitration.
Arbitration and Conciliation Act 1996 is the procedural law that governs all the arbitrations having the seat of arbitration in India. But at the same time there are some special legislations that provides for a separate procedure and mechanism of arbitration for certain categories of persons/ entities covered under the said legislation.
India has made many strides in the field of arbitration since the advent of the Arbitration and conciliation Act, 1996.
Without having system to ensure impartiality and independence of Arbitrators, arbitration cannot gain confidence in the minds of the parties to the dispute. It is not sufficient that many arbitrators by nature are independent and impartial.
On 4th November 2020, Government of India Ministry of Law and Justice promulgated an ordinance in the name of Arbitration and Conciliation Amendment Ordinance 2020.
In a recent Judgment of Supreme Court of India in the matter of SOUTH EAST ASIA MARINE
By way of a recent Judgment dated 16th September 2020 in the matter of Vedanta Supreme Court of India settled the law relating to limitation to enforce foreign commercial arbitration awards in India.
The law requires arbitration agreement to be in writing to be enforceable and valid. Section 7 of the Act specifies that the Arbitration Agreement shall be in writing, it can be part of a document signed by the parties or it can be by way of exchange of letters
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