This Article has been published in Arbitration Law Reporter Vol 145, 2020
cited as 2020 (3) Arb.LR JS11
(Scanned Copy is being uploaded with the permission of Publishers)
Recently a three-judge bench of the Supreme Court comprising of Justice R.F. Nariman, Justice S. Ravinder Bhat, Justice V. Ramasubramanian, has pronounced its judgment in Centrotrade Minerals and Metals Inc Vs. Hindustan Copper Ltd, 2020 (3) Arb LR 670(SC). This was a judgment rendered on the interpretation of S. 48 of the Arbitration and Conciliation Act 1996 vis-à-vis enforcing court’s power in interfering with a foreign arbitral award. The Supreme Court in the earlier round of litigation between the same parties had upheld the 2-tier arbitration clause in their contract i.e., wherein an appellate procedure is prescribed within the arbitration clause. The present article analyses the position of law as developed by the Supreme Court during the course of three judgments, on the validity of two-tier arbitration clauses and enforceability of foreign arbitral award rendered in such arbitrations.
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