India Is Moving In Right Direction On Int'l Arbitration
April 11, 2014
This article discuss the pro international arbitration trend of the Supreme Court in the wake of the BALCO judgment and as exemplified in its most recent judgments. The BALCO judgment effectively reversed the trend of Indian courts towards judicial intervention in international arbitrations. Although the crux of that judgment, that provisions Part 1 of the Indian Arbitration Act will not apply to foreign-seated arbitrations, is to be applied prospectively, the decision has already had a positive impact on judicial developments. A review of recent judgments makes it apparent that courts are now adopting a less interfering role in the international arbitration process and are anxious to enforce arbitration agreements between parties in accordance with the UNCITRAL Model law and the New York Convention.