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 ??
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."