9911796707
|
Home
Issues:
Enforcement of a New York Convention award under the Arbitration and Conciliation Act, 1996. Analysis: The petitioner sought enforcement of a New York Convention award dated 16-12-2001 by the sole Arbitrator at Singapore, Nicholas S. Swales. The enforcement falls under part II of the Arbitration and Conciliation Act, 1996. Section 47 of the Act outlines the requirements for enforcing a foreign award, including producing the original award or a duly authenticated copy, the original arbitration agreement or a certified copy, and necessary evidence proving the award as a foreign award. In this case, the petitioner complied with these requirements by submitting the original award, a certified copy of the arbitration agreement, and a certified true copy attested by a Notary Public from Singapore, establishing the award as a foreign award. The Court found that the award in question met the criteria for enforcement under the Act, treating it as a decree of the Court. Referring to the Supreme Court case of Fuerst Day Lawson Ltd. v. Jindal Exports Ltd., it was noted that under the new Act, a foreign award is already stamped as a decree, streamlining the enforcement process. The Court emphasized that there is no need for separate proceedings to determine enforceability and execute the award, as the holder of a foreign award can directly put it in execution. The executing Court is tasked with ensuring compliance with the Act's provisions regarding New York Convention Awards, avoiding the need for multiple proceedings and reducing litigation. Based on the Supreme Court's guidance, the petitioner was directed to proceed with putting the award in execution following the Court's rules. The judgment clarified that the intention behind the Act is to enable the direct execution of foreign awards without the requirement of separate proceedings for enforceability determination and execution, aligning with the efficient enforcement of international arbitration awards. The Court's decision highlighted the importance of adhering to the Act's provisions and streamlining the enforcement process for foreign awards, emphasizing the efficiency and effectiveness of the legal framework in handling international arbitration matters.
|
