SC Overrules Bhatia International
Published on Thu, Sep 06,2012 | 19:17, Updated at Thu, Sep 06 at 20:29Source : Moneycontrol.com
The Supreme Court has today laid down that the ratio in Bhatia International v Bulk Trading SA and Satyam v Venture Global does not flow from the provisions of the Arbitration and Conciliation Act, 1996 (Act) and accordingly, the same has been overruled.
It is now stated that Part I of the Act would apply to arbitrations held outside India unless application of Part I of the Act is expressly or impliedly excluded. This Newsflash by Khaitan & Co. provides a snapshot of this judgment of the Supreme Court.
Click on the attachment to read further.