Articles and Updates

• Vasanth Rajasekaran , Saurabh Babulkar and Shweta Vashist - 26-05-2020

It is settled law that courts should not interfere with awards merely because an alternative view on the facts or interpretation of the contracts exists. The Supreme Court of India (Supreme Court) has consistently held that courts should not interfere with the view taken by an arbitral tribunal, unless an award portrays perversity unpardonable under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act).

• Vasanth Rajasekaran , Saurabh Babulkar and Shweta Vashist - 23-05-2020

The approach of the Indian judiciary has consistently been pro-enforcement, particularly in respect of foreign arbitral awards. Indian courts have, time and again, construed the parameters for resisting enforcement of foreign awards narrowly, as a reflection of its pro-arbitration/enforcement approach. However, the recent decision of the Supreme Court of India (Supreme Court), in National Agriculture Cooperative Marketing Federation of India v. Alimenta S.A.1 , appears that the scope of judicial intervention is ever expanding.

• Vasanth Rajasekaran and Reshma Ravipati - 14-05-2020

The High Court of Delhi (Court) in Spentex Industries Ltd. v. Quinn Emanuel Urquhart & Sullivan LLP has ruled that the contractual relationship between a client and foreign law firm is a commercial relationship for the purpose of Section 44 of the Arbitration and Conciliation Act, 1996 (Arbitration Act). The Court has also recorded its observations on the scope of interference that may be exercised by a court when it is presented with an application for reference to arbitration under Section 45 of the Arbitration Act.

• Sawant Singh and Aditya Bhargava - 13-05-2020

A "black swan event" such as the current COVID-19 crisis is beyond the risk management capabilities of financial institutions as well as regulators such as central banks that oversee them. In such situations, it is sensible for regulators to provide a certain degree of flexibility to allow financial institutions to continue to function so that they do not seize up. Such moves also provide confidence to the financial sector and curtail bear market tendencies.

• Saket Sukla and MAryam Naaz Quadri - 13-05-2020

The coal mining sector in India seems to have finally taken the last step towards its de-nationalisation after more than 40 years. The Mineral Laws (Amendment) Act, 2020 (Amendment) promulgated as an ordinance in January 2020 has recently been passed by the Parliament. The Amendment seeks to allow greater private participation in the coal mining sector.