Alerts & Updates 31st May 2019
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.
As per the rules of the Bar Council of India, lawyers and law firms are not permitted to solicit work or advertise. By clicking on the "I Agree" button, you acknowledge and confirm that you are seeking information relating to Economic Laws Practice (ELP) of your own accord and there has been no advertisement, personal communication, solicitation, invitation or any other inducement of any sort whatsoever by or on behalf of ELP or any of its members to solicit any work through this website.