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India is not perceived as an arbitration friendly jurisdiction. The main reason for this perception is the interventionist approach of the Indian courts. However, in recent years, the Indian Supreme Court has attempted to check this interventionism by delivering several pro-arbitration decisions. The Indian Parliament, perhaps taking a cue from the efforts of the Indian Supreme Court, has attempted to advance this agenda through the Arbitration and Conciliation (Amendment) Act, 2015. The amendments made by this legislation are largely applicable to domestic arbitrations, but there are certain amendments that are relevant to foreign arbitrations and the recognition and enforcement of foreign arbitral awards.
This report reviews the changes brought about by recent decisions of the Indian Supreme Court and the Arbitration and Conciliation (Amendment) Act, 2015 in the context of the New York Convention. It was initially researched and drafted in February 2015. However, because there was a substantial time gap between the drafting of this report and its publication, certain revisions became necessary, particularly after the promulgation of the Arbitration and Conciliation (Amendment) Ordinance, 2015 which was eventually replaced by the Arbitration and Conciliation (Amendment) Act, 2015. While efforts have been made to incorporate relevant legal developments since February 2015 through these revisions, it is possible that certain legal developments have not been considered in this report.
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P C Markanda, N Markanda and R Markanda, Law Relating to Arbitration and Conciliation, 9th edn (India, LexisNexis India, 2016).
A Wadhwa and A Krishnan (eds), Justice R S Bachawat’s Law of Arbitration & Conciliation, 5th edn (India, LexisNexis India, 2010).
Law Commission of India, Report No. 246 on Amendments to the Arbitration and Conciliation Act, 1996 (along with Supplementary Report) (India, Ministry of Law and Justice, 2014 & 2015).
- Interpretation and Application of the New York Convention in India
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