No Distinction Between Decree Or Awards Where Amounts Are In Foreign Currencies For Purposes Of Enforcement Of Arbitral Award: Delhi High Court

The Delhi High Court has observed that for the purposes of enforcement of arbitral award, no distinction can be made between decree or awards where amounts are decreed or awarded in foreign currencies on the basis of the nationality of the disputing parties.Justice Vibhu Bakhru was dealing with a plea filed by a Decree Holder under sec. 36 of the Arbitration and Conciliation Act, 1996 seeking to enforce an Arbitral Award dated 07.01.2017. The issue before the Court was regarding the rate of...

Execution Of Foreign Arbitral Award, Singapore Being Reciprocating Country , Enforceable: Karnataka High Court

The Karnataka High Court has ruled that an international commercial arbitral award rendered between parties that have no connection with India can be enforced by a Court in India if the property against which the award is sought to be enforced lies within the territorial jurisdiction of the Court. The Bench, consisting of Chief Justice Ritu Raj Awasthi and Justice Suraj Govindaraj, held that India being a signatory to the New York Convention was required to enable execution of a...