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Tax4india ›› Indian Law ›› Corporate Law ›› Arbitration
Arbitration
Setting Aside An Award
An application for setting aside an arbitral award may be made before the court, by a party within three months of receipt of the award by him. The court may set aside an award on the following grounds:
- A party was under some incapacity;
- The arbitration agreement is not valid under the law;
- The party making the application was not given proper notice of the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case;
- The award deals with a dispute not contemplated by or beyond the scope of the submission to arbitration;
- The composition of the arbitral tribunal or the arbitral proceedings was not in accordance with the agreement or with the law;
- The subject-matter of the dispute is not capable of settlement by arbitration under the law; or
- The arbitral award is in conflict with the public policy of India.
Appeal
An appeal shall lie before the court, against the following orders-
- granting or refusing to grant any interim measure
- setting aside or refusing to set aside an arbitral award and
- granting or refusing to grant an interim measure of protection.
No second appeal shall lie against the appellate order of the court, except, however, that an appeal may be made to the Supreme Court.
Enforcement Of Foreign Awards
Foreign Award has been defined to mean an award on differences between persons arising out of legal relationships, whether contractual or not and considered as commercial under the law in force in India, and made in pursuance of an agreement in writing for arbitration to be governed either by the New York Convention or by the Geneva Convention, in the territory of a notified foreign state.
- Where a commercial dispute covered by an arbitration agreement to which either of the conventions applies, arises before a judicial authority in India, it shall at the request of a party be referred to arbitration.
- Any foreign award, which is enforceable under this part, shall be binding and may be relied upon by the parties by way of defence, set off or otherwise in any legal proceedings in India.
- The party applying for the enforcement of a foreign award shall, produce the original award or a duly authenticated copy thereof, the original arbitration agreement or a certified copy thereof, and evidence to prove that the award is a foreign award.
- An appeal shall lie against the order of court refusing to refer the parties to arbitration or refusing to enforce a foreign award.
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