Arbitration Law – Termination of Proceedings – Arbitration and Conciliation Act, 1996, Sections 25, 30, 32, 38 – Interpretation of Tribunal's Power – The Supreme Court held that Section 32 of the Act is exhaustive and covers all cases of termination of arbitral proceedings. The power of the arbitral tribunal to terminate proceedings under the scheme of the Act lies only...
Arbitration Law – Contract Interpretation – Rebate for Damaged Buses – Petitioner claimed rebate for 966 damaged buses – Held: The contract was for the "fleet" of buses available, not necessarily buses actually plying. Clause 1.1.1 of Schedule-VI specifically stated that 100% of buses may not be on road due to maintenance and no claims could be raised. The Arbitra...
Arbitration Law – Section 31(7)(a) of the Arbitration and Conciliation Act, 1996 – Power to Award Interest – Party Autonomy – Held: The phrase "Unless otherwise agreed by the parties" at the beginning of Section 31(7)(a) qualifies the entire provision. Where the parties have agreed to a specific rate of interest in the contract, the Arbitral Tribunal ceases to hav...
Arbitration – Scope of Judicial Interference – Award upholding investor’s claim for indemnity from CDSL under Section 16 of Depositories Act – Tribunal held DP (BRH) acted negligently and fraudulently while transferring and pledging investor’s shares – Court held findings plausible, reasoned, and not perverse – Petition under Section 34 dismissed [Paras 1,...
Arbitration – Prohibitory/Excepted Clauses – Contractual bar on idle labour, machinery, overheads, business loss – Arbitral Tribunal allowed claims 3, 4 and 6 despite explicit contractual prohibition – Civil Court set aside award under Section 34 – High Court restored award solely relying on Bharat Drilling – Held: High Court erred in not examining contractual c...
Arbitration – Substitution of Parties – Order XXII Rule 10 CPC – Assignment and Settlement Agreements – NHAI sought substitution by IL&FS Transportation Networks Ltd. (concessionaire) in ongoing arbitration with CFM Asset Reconstruction Pvt. Ltd. (assignee of senior lenders) – Arbitral tribunal rejected application noting claimant was not a party to Settlement Agr...
Arbitration – Section 8 Referral – Prima Facie Standard – Alleged Forgery of Arbitration Agreement – Commercial Court exceeded jurisdiction by undertaking detailed evidence review – Allegations of fraud/forgery in contracts between parties do not bar arbitration – Formal validity under Section 7 satisfied – Substantive validity to be examined by Arbitral T...
Arbitration Law - Foreign Award – GAFTA Appeal Award 4618A (London) – Enforcement in India under Part II – Public Policy Objection – Enforcement Allowed – The petitioner, an Austrian company, sought enforcement of a GAFTA Appeal Award dated 28.09.2021 directing payment by the respondent, an Indian importer – The respondent resisted on grounds that the award viol...
Arbitration – Maintainability of Section 34 Petition – MSME Award – Pre-deposit Mandatory – Petition filed to challenge MSME award without deposit of 75% of award amount at time of filing – Deposit made only on 18.06.2025, beyond 120-day limitation under Section 34(3) – Held: Petition not maintainable due to failure to comply with statutory precondition under Se...
Arbitration – Interim protection – Retention of Title Deeds – Arbitral proceedings had already concluded – No subsisting dispute – Commercial Court justified in rejecting interim relief – Petition dismissed [Paras 14–21].
Arbitration – Pendency of Proceedings – No Existing Dispute – Petitioner argued that arbitral proceedings...