TagArbitration

Payment of Stamp Duty Inconsequential to Enforceability of a Foreign Arbitral Award in India

[Anirban Chanda is a fourth-year B.A., LL.B. (Hons.) student and Anujay Shrivastava a final-year B.A., LL.B. (Hons.) student at Jindal Global Law School] While the Indian Arbitration and Conciliation Act, 1996, even after the 2015 amendment, does not expressly lay down any legal requirement that mandates parties to an arbitration agreement to pay stamp duties on an arbitral award, there has been...

Supreme Court on Unstamped Arbitration Agreement: A Further Analysis

[Rahul Kanoujia and Venkata Supreeth K are student at Gujarat National Law University] The case of Garware Wall Ropes Ltd. v. Coastal Marine Constructions & Engineering Co. Ltd, decided by the Supreme Court in April 2019, involved an application made by Coastal Marine under section 11 of the Arbitration and Conciliation Act, for the appointment of a sole arbitrator in response to certain...

Computing Price Adjustment in Construction Contracts: The Limited Scope for Setting Aside an Arbitral Award

[Zacarias Kanjirath Joseph is a dispute resolution lawyer based in Bombay. He may be contacted at [email protected] The views expressed in this piece are personal] A division bench of the Supreme Court of India in its judgment dated 8 May 2019 in Ssangyong Engineering & Construction Co. Ltd. v. National Highways Authority of India set aside an award of an arbitral tribunal, which...

Call for Blog Posts: RMLNLU Arbitration Law Blog

[Announcement from RMNLU’s Society for Excellence in Arbitration Law] RMLNLU’s Society for Excellence in Arbitration Law invites guest contributions to its blog. Offers for contributions are welcome from academics (including researchers and Ph.D. students), practitioners (lawyers, NGO employees, and civil servants) and students. Blog posts could cover any area of Arbitration Law, but must (a)...

Demystifying Pre-Deposit Clauses in Arbitration Agreements

[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] Parties elect to incorporate pre-deposit clauses (PDCs) in arbitration agreements to principally weed out frivolous claims. Typically, PDCs provide for parties to deposit a portion of the amount claimed, with a bank, before initiating arbitration. In this regard, a...

Bombay High Court Differentiates Options from Forward Contracts

[Debayan Gangopadhyay is a 3rd year B.A., LL.B. student at ILS Law College, Pune] An option in securities popularly known in forms such as “call” or “put” option is typically a clause in an agreement for transfer of shares through which the option holder gets the option to sell its shares to or buy additional ones from the transferor on a future date. An “option” is the right or entitlement, but...

Bombay High Court Cements the Continuing Jurisdiction of Arbitration-Seat Court during Enforcement

[Parimal Kashyap is a third year B.A., LL.B (Hons.) student at Dr. Ram Manohar Lohiya National Law University, Lucknow] Is an arbitral award synonymous to the decree of a court? A reading of section 36 of the Arbitration and Conciliation Act 1996 may suggest a positive answer. The provision dealing with enforcement of domestic awards reads: 36. Enforcement.—(1) Where the time for making an...

Supreme Court on Arbitration Agreement in an Unstamped Instrument

[Mansi Patel is a Partner, SRA Consulere, Advocates] In Garware Wall Ropes v Coastal Marine Constructions & Engineering Ltd (10 April 2019), the Supreme Court held that an arbitration agreement in an unstamped instrument does not exist in law; thus it cannot be acted upon by courts for the appointment of an arbitrator under section 11 of the Arbitration and Conciliation Act, 1996. By this...

Preclusive effect of Res Judicata in International Commercial Arbitration: A Baffling Syndrome

[Prabhakar Yadav is a III Year student pursuing B.A.LL.B. (Hons.) at the National Law School of India University, Bangalore] The doctrine of res judicata is a potent tool for any legal order which aims to achieve efficiency and consistency in the judicial administration. This objective is achieved by the fact that res judicata buries disputes to rest by creating a preclusive effect of prior...

Identifying The Arbitral Seat From Ambiguous Dispute Settlement Clauses—Has Supreme Court Muddied The Waters?

[Anirudh Lekhi is an associate at a law firm in New Delhi, having graduated from National University of Juridical Sciences in 2017] The choice of the arbitral seat is fundamental to arbitration. The seat determines the lex arbitri as well as the courts that exercise supervisory jurisdiction over the arbitration. Although the distinction between the ‘venue’ and ‘seat’ of arbitration is well...

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