THE QUAGMIRE OF ENFORCING FOREIGN ARBITRAL AWARDS IN INDIA: HAVE THE CHALLENGES EASED OR DEEPENED IN THE NEW LEGAL REGIME ESTABLISHED BY THE INDIAN ARBITRATION & CONCILIATION (AMENDMENT) ACT, 2015?
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https://doi.org/10.55662/Abstract
The arbitration law in India has undergone a sea change with the coming into force of the Arbitration and Conciliation (Amendment) Act, 2015 (“2015 Act”), which has brought about an overhaul of the existing Arbitration and Conciliation Act, 1996 (“1996 Act”)2. The amendments contained in the 2015 Act are in line with the Indian Government’s aim to project India as arbitration-friendly with the ultimate goal of making India an arbitration hub like its neighbour, Singapore. This paper examines the amendments made by the 2015 Act in relation to international commercial arbitrations, in particular those relating to the recognition and enforcement of foreign arbitral awards. An analysis of the legal provisions and a perusal of recent judgments of Indian Courts3 indicates a pro-arbitration approach, where international best-practices in considering challenges to enforcement of foreign arbitral awards have been given due consideration.
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