NEW DELHI: The Supreme Court on Thursday said an arbitration award arrived at in a foreign country can be challenged in India if it was being enforced here.
The apex court's landmark judgment in the arbitration sector settles a lingering question whether Indian courts had the jurisdiction to entertain challenge to foreign arbitration awards.
Source: Times of India
Dear Sir,
Could you kindly explian something to me. Will this judgement be applicable to only those Arbitration contracts which are entered now or will its applicability too be on arbitration contracts executed earlier i.e. to say if an Arbitration Agreement of similar nature was executed in the year 2005 but not yet executed, then shall this jugdgement have a bearing on such Arbitration Agreements too ??
Regards,
Sagnik Sanyal
Dear Sagnik,
This judgement was delivered by the Supreme Court of India on 6th September, 2012. In the end of this judgement, it is clearly mentioned by Hon. Judges that, "the law now declared by this Court shall apply prospectively, to all the arbitration agreements executed hereafter."
Warm Regards,
Veeral Gandhi
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