Lawstreet Journal

Arbitration- Enforcement Court May Refuse Enforcement of Foreign Award, But Cannot Set Aside or Correct It: SC

Lawstreet Journal 20 Sep 2020 3:40am

Image courtesy: Lawstreet Journal Judiciary Arbitration- Enforcement Court May Refuse Enforcement of Foreign Award, But Cannot Set Aside or Correct It: SC

The Vedanta case is making headlines all over the country. Today, i.e. September 7th, 2020, the Apex Court of India ruled that Vedanta Ltd. was entitled to recover an arbitration award of USD 499 Million from the federal government. The arbitration award was for the development of oil and gas fields off the Indian coasts of Andhra Pradesh.  The Supreme Court also ruled that enforcement courts may be eligible to refuse the enforcement of a foreign award under Section 48 of the Arbitration and Conciliation act, 1996, but it does not have the authority to correct or set aside a foreign award under the same statute.

Section 48(1) (a) and (b) of the Arbitration and Conciliation Act, 1996 reads, “(1) Enforcement of a foreign award may be refused, at the request of the party against whom it is invoked, only if that party furnishes to the court proof that—

(a) the parties to the agreement referred to in section 44 were, under the law applicable to them, under some incapacity, or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of the country where the award was made; or

(b) the party against whom the award is invoked was not given proper notice of the appointment of the arbitrator or of the arbitral proceedings or was otherwise unable to present his case; ”[1]

The bench was headed by Justice S. Abdul Nazeer and comprised of other Hon’ble Justices Indu… Continue Reading...


Tagged: Law of Arbitration   International Council for Commercial Arbitration  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 0
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.