Delhi High Court has held that a challenge to the enforcement of an arbitral award in a case where arbitration proceedings commenced prior to 23 October 2015 would be governed by the unamended Arbitration and Conciliation Act, 1996.
In Ardee Infrastructure Private Limited v Ms Anuradha Bhatia/Yashpal & Sons, the arbitral tribunal delivered an arbitral award in favour of Bhatia 13 October 2015. Petitions under section 34 objecting to the award were filed by Ardee on 4 January 2016. Meanwhile, amendments to sections 34 and 36 of the 1996 act were made with retrospective effect from 23 October 2015. In accordance with amended act, a single judge of Delhi High Court directed Ardee to deposit ₹27 million (US$397,000) or else the challenge against the arbitral award would stand dismissed. Ardee appealed before a division bench of Delhi High Court.
You must be a
to read this content, please
The dispute digest is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi.
The authors can be contacted at firstname.lastname@example.org or email@example.com. Readers should not act on the basis of this information without seeking professional legal advice.