In this week’s alert we update our readers on what has been a significant fortnight for the law of arbitration in India.
We first examine the decision of the Bombay High Court, in Board of Trustees of the Jawaharlal Nehru Port Trust v. PSA Mumbai Investments Pte. Limited and Ors. Through the judgment, the HC held that the signing of a concession agreement after issuance of LoA was one of the requirements to be complied with and not a condition precedent for formation of the contract as sought to be canvassed by the Respondent. The court held that the contract was already concluded between the parties prior to the date of signing the concession agreement.
The Union Cabinet on 7 March 2018 introduced the Arbitration and Conciliation (Amendment) Bill, 2018 in furtherance of the Government’s efforts to encourage institutional arbitration and make India a centre of Alternative Dispute Resolution (ADR). Attached to this email is a short write up on the salient features of the bill.
On Thursday, 15 March 2018, the Hon’ble Supreme Court of India delivered the much awaited judgment in the case of Board of Control for Cricket in India v.
Kochi Cricket Pvt.Ltd. and Ors. Through this judgment the apex court has ruled on the applicability of the Amendment Act of 2015. An update on this majorly significant precedent had also been attached. Interestingly, the judgment also makes a passing reference to Amendment Bill of 2018.
We trust you will find this an interesting read. For any queries or comments on this update, please feel free to contact us at firstname.lastname@example.org.