Heralding a New Dawn for Arbitration in India: Is There Reason to Be Circumspect Any More?

Abstract

In a recent case of Bharat Aluminium Co. v. Kaiser Aluminium, the Indian Supreme Court has held that Part I of the Arbitration Act is not applicable to foreign seated arbitrations. Although, it is a welcome change to arbitration jurisprudence of India, however the judgment poses many concerns like the question of prospective overruling and possibility of challenging foreign awards on ground of patent illegality. This article critically examines the ruling, identifies the law laid down and explains the limits of its application.

Keywords: Arbitral proceedings, Enforcement, Foreign awards, India, International commercial arbitration, Seat of arbitration