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Powers under Section 17, Arbitration Act have come at par with those under Section 9 after an amendment. However, Section 17 powers of arbitral tribunals do not carry the same impact as those of courts under Section 9.
The language used in Section 9 cannot be given a restrictive meaning that it would apply to a foreign award only before or during the arbitral proceeding, the Court said.
Parties seeking attachment before judgment in arbitration proceedings is a recurring phenomenon and it is hoped that the Supreme Court will resolve this important issue concerning arbitration law in the near future.
A lack of judicial synchronization may lead to indecision before various courts while exercising their discretion in awarding interim relief under Section 9 of the Act.
In a recent judgment, the Supreme Court has finally settled the ambiguous position of law with respect to the applicability of CPC provisions to Section 9 of the Arbitration Act.