ENFORCING FOREIGN ARBITRAL AWARDS – AN ANALYSIS OF INDIAN LEGAL REGIME
Abstract
The distinction between the jurisdiction for enforceability of foreign awards and the jurisdiction in challenging it is a blurred line. This distinction assumes critical importance in the light of significant issues to be explored in this note, such as whether the current structure of the conventions allows for the Challenging Jurisdiction of convention awards to be considered concurrent between the “territory where the award is relied upon” & the “territory where the award is enforced”; what are the current Challenging Jurisdiction as per the Arbitration and Conciliation Act & its interpretation as per the Indian judiciary, also accepting the inherent conflict between the rules and methods that various territory use to reach the final award; what is the effectiveness of the Indian Judicial System in accepting the binding effects of foreign arbitral awards? Discussing these issues, this note is an attempt to delve into the factors that retard the successful conclusion of arbitral process and enforcement of awards in India and highlights the urgency to eliminate excessive court intervention in order that the objectives of arbitration as a mode of alternative dispute resolution stand achieved.
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