Arbitration

1361 Words Jun 6th, 2015 6 Pages
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| |Introduction |
| |A path breaking judgment regarding the future implications of foreign award and foreign arbitration vis a vis jurisdiction of Indian Courts |
| |was passed on 6 September 2012 by the Constitutional Bench of the Hon'ble Supreme Court comprising Hon'ble Chief Justice J.N. Patel, Justice |
| |Surinder Singh Nijjar, Justice D.K. Jain, Justice Mrs. Ranjana Desai, Justice Jagdish Singh Khehar. This landmark judgment passed in Civil |
| |Appeal No. 7019 of 2005 (Bharat Aluminium Co. vs. Kaiser Aluminium Technical Service, Inc.) along with 7 other Appeals lays down a new |
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| |Article 17.2 - The arbitration proceedings shall be carried out by two Arbitrators one appointed by BALCO and one KATSI chosen freely and |
| |without any bias. The court of Arbitration shall be held wholly in London, England and shall use English language in the proceeding. The |
| |findings and award of the Court of arbitration shall be final and binding upon the parties. |
| |Article 22 - Governing Law - This agreement will be governed by the prevailing law of India and in case of Arbitration, the English law shall |
| |apply." |
| |Disputes arose between BALCO and KATSI with regard to the performance of the said Agreement. The disputes were referred to arbitration held in|
| |England. The Arbitral Tribunal passed two Awards dated 10 November 2002 and 12 November 2002 in England. BALCO challenged the above mentioned |
| |Awards under Section 34 (Part I) of the said Act in the Court of Learned District Judge, Bilaspur,
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