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  INTRODUCTION Last month, on December 10th 2019, a three judge bench of the Hon’ble Supreme Court comprising of Justice R. F. Nariman, Justice Aniruddha Bose and Justice V. Ramasubranium passed a significant judgement in the case of BGS SGS SOMA JV v. NHPC Ltd.[1] establishing interpretation on certain crucial aspects of the arbitral agreement with respect to whether a venue agreed upon for arbitral proceedings would constitute as the seat of arbitration in absence
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ARBITRATION v. LITIGATION
India is one of the fastest-growing economies in the world and it is more than often true that in places where there is a high rate of economic growth, there is also an increase in income, and increased purchasing power, thereby leading to the growth of effective demand and supply, ultimately resulting into the improvement in standard of living, life expectancy, quality of human life and others. The opening up of Indian markets to foreign
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A summary procedure. In a recent judgment, the Supreme Court has held that the proceeding under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘Act’) are summary proceedings and the parties can only exceptionally be allowed to adduce additional evidence to prove their grounds of challenge. Facts of the case:  The appellant, a financial institution, advanced a loan of Rs. 50,00,000/- to respondent no.1 and respondent nos. 2, 4 and
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Arbitration is a form of alternative dispute resolution (ADR) which allows disagreements between two parties to be resolved outside the traditional court system (avoid resolving their dispute in the public litigation). Arbitration is only an alternative to litigation and it does not replace the judicial machinery in all aspects, rather it co-exists with it. It is used mainly in solving disputes arising out of commercial matters. Arbitral tribunals usually consist of either one or three
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Posted on 04th September 2019 2:01PM by PIB Delhi 1. The Arbitration and Conciliation (Amendment) Act, 2019 was notified on 9th August, 2019. Sub-Section 2 of Section 1 of the Arbitration and Conciliation (Amendment) Act, 2019 provides as under:- “(2) Save as otherwise provided in this Act, it shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different
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