Enforcement of foreign arbitration awards in India refers to the legal procedure through which a foreign arbitration award obtained outside India can be recognized and enforced within the Indian jurisdiction. India follows the provisions of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which provides a comprehensive framework for enforcing arbitration awards internationally. The enforcement process in India is governed by the Arbitration and Conciliation Act, 1996, which outlines the procedures and requirements for recognizing and enforcing foreign awards. The Act ensures that foreign arbitration awards are given the same credibility and enforceability as domestic awards. There are two primary types of enforcement mechanisms available under the Indian legal system: 1. Enforcement under Part II of the Arbitration and Conciliation Act, 1996: This part deals with the enforcement of foreign awards in India. To enforce a foreign award under Part II, the party seeking enforcement must file an application before the competent court in India, which is usually the high court having territorial jurisdiction over the matter. The court will examine the award's validity, ensure that it falls within the definition of a "foreign award," and consider any objections raised by the opposing party. Once satisfied, the court will declare the award as enforceable, and it will have the same force as a decree of the court. 2. Reciprocity-based enforcement: India has also signed bilateral investment treaties (BIT's) and international conventions, which provide for reciprocal enforcement of awards between India and certain countries. Under these treaties, India is obligated to recognize and enforce awards rendered in those countries, and vice versa. The enforcement mechanism under such treaties may involve submitting the award to the appropriate Indian court, which will evaluate its enforceability according to the provisions of the treaty. Keywords: — Enforcement of foreign arbitration awards in India — Arbitration and Conciliation Act, 1996 — New YorConventionio— - Recognition and enforcement of foreign arbitral awards — High Courjurisdictionio— - Enforcement under Part II — Reciprocity-baseenforcementen— - Bilateral investment treaties — International convention— - Arbitration enforceability in India
Enforcement Of Foreign Arbitration Award In India
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The enforcement of a foreign award in India is a two-stage process which is initiated by filing an execution petition. Initially, a court would determine whether the award adhered to the requirements of the Act. Once an award is found to be enforceable it may be enforced like a decree of that court.
In the said case the Supreme Court had held that enforcement of foreign award would be refused on the ground that it was contrary to public policy if such enforcement would be contrary to (i) fundamental policy of Indian Law, (ii) the interest of India, and (iii) justice or morality.
Numaligarh Refinery Ltd., an arbitral award can be executed with a judgment debtor or his property at any particular place in close nexus, and in order to transfer the award to the court where, among other things, the judgement debtor's assets or possessions are located, the person in whose respect the award is not ...
The sum falls within the scope of Article 21(2) of the tax treaty and will be taxable in India under Article 7 of the tax treaty. The AO shall compute the income ingly, as provided under Article 7 of the tax treaty.
As per the new Act, the application for enforcement of a foreign award will now only lie to High Court. Once an application for enforcement of a foreign award is made, the other party has the opportunity to file an objection against enforcement on the grounds recognized under Section 48 of the Act.