Supreme Court clarifies whether two Indian entities can opt for foreign-seated arbitration
In a win for party autonomy, a three-judge bench of the Supreme Court, comprising Mr Justice RF Nariman, Mr Justice BR Gavai and Mr Justice Hrishikesh Roy, has settled a longstanding and controversial question of law by holding that two entities or companies incorporated in India can opt for foreign-seated arbitration and that an award passed in such arbitration would be enforceable in India ( PASL Wind Solutions Private Limited v GE Power Conversion India Private Limited, 20 April 2021). Facts The parties were companies incorporated in India. In 2010 the appellant issued three purchase orde...
Source: internationallawoffice.com