29052019 ELP Arbitration Weekly Update

For this week’s dose of arbitration law, we bring you a significant development from the Bombay High Court (Bombay HC). In its judgment in Global Asia Venture Company v. Arup Parimal Deb and Ors., COMEX No. 58 of 2017, the Bombay HC was, in fact, dealing with three separate cases at once. While adjudicating upon jurisdictional challenges in these cases, the Bombay HC has also clarified the Supreme Court’s verdict in Sundaram Finance Ltd. v. Abdul Samad and Anr., (2018) 3 SCC 622 (Sundaram Finance). It has stated that though an award-debtor’s assets may lie beyond the territorial jurisdiction of the court exercising supervisory jurisdiction over the arbitration proceedings, the execution application for such award may nevertheless be made to such supervisory court. This forum would be available in addition to the court in whose jurisdiction the assets are, in fact, located. It is pertinent to note that such choice of jurisdiction is not available to parties in regular civil proceedings. This additional liberty to parties to an arbitration has arisen out of continued judicial recognition that the Arbitration and Conciliation Act, 1996, is a standalone statute, which transcends territorial barriers. Please read the detailed update here.