tag:blogger.com,1999:blog-3202774368551476669.post2736128632653586447..comments2023-09-15T16:21:31.980+05:30Comments on INDIAN CORPORATE LAW: Bombay High Court on post-award applications u/s 9 of the Arbitration and Conciliation Act, 1996Umakanth Varottilhttp://www.blogger.com/profile/12438677982004444359noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3202774368551476669.post-49264117392392912052013-04-02T15:20:02.741+05:302013-04-02T15:20:02.741+05:30Hi Mihir, it's an interesting case-law.
In m...Hi Mihir, it's an interesting case-law. <br /><br />In my view that the emphasis of this case-law lies in the words in paragraph 13 “Once a challenge to the arbitral award has either failed under Section 34 having been made within the stipulated period or when no application for setting aside the arbitral award has been made within time, the arbitral award becomes enforceable at the behest of the party for whose benefit the award enures.” These words are likely to cover an instance when an arbitrator rejects a valid claim of a claimant and there is a likely hood that the subject matter of the dispute in the arbitral proceedings will be alienated.<br /><br />However, the emphasis on the above words is diluted by the following words in paragraph 13 “The object and purpose of an interim measure after the passing of the arbitral award but before it is enforced is to secure the property, goods or amount for the benefit of the party which seeks enforcement.” <br /><br />I would be keen to read the discussions on this case-law in this blog.shyamnoreply@blogger.comtag:blogger.com,1999:blog-3202774368551476669.post-33919798228627198252013-04-02T14:15:34.724+05:302013-04-02T14:15:34.724+05:30This is stange. Supposing I have a watertight s. 3...This is stange. Supposing I have a watertight s. 34 case, I have no protection pending the disposal of the 34? Effectively this means, if one were to assess on the usual grounds for interim relief, that once the arbitral award is against the claimant the law has an irrebutable presumption that there can be no prima facie case! While there are several loopholes in the AC Act, I believe that this is a case of a judicially-created loophole!Anonymousnoreply@blogger.com