[Oshin Malpani is a penultimate year B.A., LL.B. (Hons.) student at NALSAR University of Law, Hyderabad] Third-party arbitration funding (“TPAF”) simply stated, is the funding extended to a claimant to pursue arbitration proceedings in exchange for a portion of the award (if) granted to them. It is a subset of the general third-party funding (“TPF”) that similarly funds other litigatory and...
Restrictive Immunity in Enforcement of Arbitral Awards against Foreign States
[Sparsh Mallya is a 3rd Year BBA-LL. B (Hons.) Student at O.P Jindal Global University, Sonipat] On June 18, 2021, the Delhi High Court held in KLA Const. Technologies Pvt. Ltd. v. The Embassy of Islamic Republic of Afghanistan (“KLA Const”) that prior consent of the Central Government under section 86 of the Civil Procedure Code (“CPC”) is not an express requirement for...
Principles Governing ‘Anti-Enforcement Injunctions’ in India: Part 2
[Anujay Shrivastava is a law graduate (class of 2020) from Jindal Global Law School, O.P. Jindal Global University, Sonipat. The first part in the series is available here] High Court’s Analysis The High Court recorded that injunctions of legal proceedings in foreign claims may take one of three primary forms, i.e. ASIs, AASIs and AEIs. It distinguished AASIs and AEIs. According to the Court...
Principles Governing ‘Anti-Enforcement Injunctions’ in India: Part 1
[Anujay Shrivastava is a law graduate (class of 2020) from Jindal Global Law School, O.P. Jindal Global University, Sonipat] In a significant judgment in Interdigital Technology Corporation v. Xiaomi Corporation(3 May 2021) (“Xiaomi”), the Delhi High Court speaking through C. Hari Shankar, J. recently clarified the principles governing an anti-enforcement injunction (“AEI”) by an Indian judicial...
Section 36 of the Arbitration and Conciliation Act, 1996, as Recently Amended
[Raghav Kacker is an Advocate practicing before the High Court of Delhi and various Tribunals and Ruchi Chaudhury is a postgraduate in anthropology, and currently a 2nd year LLB candidate at Jindal Global Law School] The Central Government has notified the Arbitration and Conciliation (Amendment) Act, 2021 (the ‘Amendment’), which was already in force as law by way of an Ordinance issued by...
Foreign Jurisdiction Clauses in Commercial Contracts: An Indian Perspective
[Sneha Kalia is a 5th year B.B.A. L.L.B. (Hons.) student at Jindal Global Law School, Haryana] The advent of globalisation and burgeoning international business transactions essentially necessitate contracts with carefully carved-out dispute resolution provisions so as to mitigate the hassle of litigating in an inconvenient or time-consuming forum. To further that end, the incorporation of a...
Dave Committee on Strengthening SEBI’s Recovery Mechanism: Missed Opportunities
[Rohan Deshpande practices as a Counsel at the Bombay High Court] On December 14, 2017, the Securities and Exchange Board of India (SEBI) formed a High Level Committee chaired by Justice Anil R. Dave, a former judge of the Supreme Court. One of the terms of reference of the Committee was to review the enforcement mechanism of SEBI, particularly the recovery mechanism under securities laws. The...
Supreme Court Reopens the Limitation Period for Enforcement of Foreign Awards
[Smriti Shukla and Yash Raj are third year students of the National University of Study and Research in Law (NUSRL), Ranchi] In the recent judgment of the Supreme Court in Bank of Baroda v. Kotak Mahindra Bank Ltd. (17 March 2020), the question concerned the limitation period for the execution of the foreign decrees under section 44A of the Civil Procedure Code (CPC) in India. In an attempt to...
Supreme Court Rules on Limitation Period for Execution of Foreign Decrees in India
[Ankit Tripathi is a practicing advocate before the Supreme Court and Delhi High Court] In its judgement dated 17 March 2020, the Supreme Court in Bank of Baroda v. Kotak Mahindra Bank Ltd ruled on the limitation period applicable to the execution of foreign decrees in India, after it recorded contrasting views of the different state High Courts on the issue. It held that the limitation period...
The Limits of Comity: Refusal to Recognise Foreign Insolvency Proceedings
[Aditi Mozika is a IV year B.Sc. LL.B. (Hons.) student at Gujarat National Law University] The recent decision of the National Company Law Appellate Tribunal (NCLAT) in the Jet Airways case has ushered in the era of cross border insolvency in India.[1] Accordingly, the Resolution Professional and the Dutch Trustee – the administrator in bankruptcy of Jet Airways appointed by the Dutch...
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