High Court of Bombay

Armada (Singapore) Pte. Ltd. v. Ashapura Minechem Ltd.

MANU/MH/2374/2015

08.09.2015

Arbitration

Execution of arbitration of arbitral award impermissible without permission of BIFR

Mere violation of Indian law is not sufficient to raise an objection for enforcement of the foreign award under Section 48 of the Arbitration Act, 1996. In a case where Petitioner sought execution of awards made by a foreign arbitrator, the Court held that though the awards were decreed, the Petitioner could not go ahead the same without permission from the Board for Industrial and Financial Reconstruction, in violation of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985.

Relevant

Section 22 Sick Industrial Companies (Special Provisions) Act, 1985 Act Tropic Shipping Company Limited vs. Kothari Global Limited MANU/MH/0790/2001
Penn Racquet Sports vs. Mayor International Ltd. MANU/DE/0147/2011

Tags : Arbitration sica foreign bifr

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