Lawstreet Journal

“Very Sorry State Of Affairs That Even The Execution Proceedings To Execute The Award Passed Under Arbitration Act, Are Pending For More Than 20 Years”: Supreme Court

Lawstreet Journal 3 Apr 2022 5:47am

Image courtesy: Lawstreet Journal Judiciary “Very Sorry State Of Affairs That Even The Execution Proceedings To Execute The Award Passed Under Arbitration Act, Are Pending For More Than 20 Years”: Supreme Court

The Supreme Court on April 1 , 2022 expressed concerns at the pendency of execution proceedings for executing the award in Arbitration Matters before subordinate courts/executing courts in the State of Uttar Pradesh. 

The Court observed that if the Award, under the Arbitration and  Conciliation Act , 1996, is not executed at the earliest, it will frustrate  the main  aim  and object of the Arbitration Act as well as the Commercial Courts Act, 2015 . 

The Hon’ble Court stated that

If the Award, under the Arbitration Act, is not executed at the earliest, it will frustrate the purpose and object of the Arbitration Act as well as the Commercial Courts Act” .

Referring to the limitation period  within which a commercial dispute was required to be decided and disposed off under the Commercial Court's Act, 2015  the bench said :

“Even as per the new Commercial Courts Act, 2015 the commercial dispute is required to be decided and disposed of at the earliest and within the stipulated time provided under the Act, namely, one year. There must be number of such proceedings pending in the courts under the jurisdiction of the High Court of Judicature at Allahabad”.

The Hon’ble Court also directed the Registrar General of the High Court of Judicature at Allahabad and the Lucknow Bench to place on record ;-

  1. How many execution petitions to execute the Award both under the Arbitration Act, 1940 and under the Arbitration and Conciliation Act, 1996 are pending in the subordinate… Continue Reading...

    Tagged: Law of Arbitration   International Council for Commercial Arbitration  
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