Lawstreet Journal

Limitation Period for Filing Petition for Enforcement of Foreign Award Would be Governed by Article 137 of Limitation Act: SC [READ JUDGMENT]

Lawstreet Journal 19 Sep 2020 12:09am

Image courtesy: Lawstreet Journal Judiciary Limitation Period for Filing Petition for Enforcement of Foreign Award Would be Governed by Article 137 of Limitation Act: SC [READ JUDGMENT]

The Bombay High Court while deciding a preliminary objection to an application filed for enforcement of a foreign award under Section 47, 48, and 49 of the Arbitration and Conciliation Act, 1996 (Act), held that an application for enforcement of a foreign award can be filed within a period of 12 years from the date when such an award becomes enforceable.

Imax Corporation, the award holder, filed an application before the Court seeking enforcement of three foreign awards issued by the International Chamber of Commerce. The application, in addition to the enforcement, also asked for the simultaneous execution of the awards. The award debtors raised a preliminary objection to the maintainability of this petition on the ground that the petition is time-barred considering the provisions of Article 137 under the Schedule to the Limitation Act, 1963 (Limitation Act). It was argued that given the scheme of Sections 46, 47, 48, and 49 of the Act, unless a foreign award is held to be enforceable by a Court, such an award would not be a decree available for execution and accordingly the application for enforcement should be governed by Article 137 of the Limitation Act which stipulates a 3 year limit for filing, from the date of the award.

The Court, while referring to various Supreme Court judgments, held that enforcement and execution of a foreign award form part of the same proceedings under Sections 47, 48, and 49 of the Act. The Court further held that in case the argument of inapplicability… Continue Reading...


Tagged: Supreme Court of India  
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