Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | New York Convention Arbitration |
Content Type | Text |
Resource Type | Law Order |
Jurisdiction | India |
Case(s) Referred | Referred Case 0 |
Case Type | Special Leave Petition |
Court | Supreme Court of India |
Disposal Nature | Petition Dismissed |
Headnote | Arbitration and Conciliation Act, 1996 - ss.48(1 )(e) and 202 - New York, as adopted under the Act - Respondent-company and Escorts AMI were respectively . holding 49% and 51% shares in another company, "BCH"- Agreement whereby respondent sold its shareholding in BCH to Escorts AMI for a price to be paid in installments - Escorts AMI defaulted in payment of installments - Suit filed by respondent against Escorts AMI in a North Carolina Court in the United States - Consent order passed therein wherein both the parties agreed to refer the matter to arbitration - Arbitration followed by award in favour of the respondent - Respondent sought execution of that award by filing execution petition in India, since the Escorts AMI subsequently merged with the petitioner - Execution objected to by the petitioner, and those objections rejected by the High Court - Whether under the terms of agreement, it was necessary for the respondent to go for confirmation of the award in the concerned Court in United States and unless a confirmation of the award by the foreign Court was obtained, the award could not be executed in India - Held: Even as per the requirement of the US Law, a notice of three months is required to be given in case a party does not want the award to be enforced - In the instant case, the consent order clearly recorded that the award given by the arbitrator shall be final and binding on the parties - If the petitioner wanted to dispute it, it was required of them to have issued necessary notice which it had not done - The submission that the respondent ought to proceed for confirmation of the award under the US Law and then come to India for execution is not tenable in view of the changed law and doing away of the rule of double excequatur - Federal Arbitration Act of U.S. - s. 9. |
Judge | N/A |
Neutral Citation | 2013 INSC 158 |
Petitioner | Escorts Ltd. |
Respondent | Universal Tractor Holding Llc |
SCR | [2013] 2 S.C.R. 389 |
Judgement Date | 2013-03-13 |
Case Number | 35092 |
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