In the recent view dated 14th June 2016 the particular High Court docket of Bombay in the well-reasoned thinking held the amended Arbitration & Conciliation Work, 1996 which came into effect about 23rd March 2015 is relevant in the particular enforcement process of arbitral prizes even for your arbitrations started ahead of the above mentioned cutoff time. As every the un-amended Arbitration & Conciliation Work, 1996, if virtually any party difficulties an arbitration award beneath Section 34 with the act, there is certainly an automatic stick to the enforcement process initiated from the successful get together, till the particular disposal with the challenge from the appropriate court docket. The previously mentioned said judgement has brought away the particular automatic keep procedure, by holding the amended Part 36 with the Act is at curative nature depending on the observations created by the Substantial Court regarding India inside NALCO case thus applicable to all or any pending situations.
FACTS WITH THE CASE: The particular Board regarding Control regarding Cricket inside India (BCCI) misplaced two arbitration proceedings registered by M/S Rendezvous Sporting activities World (RSW) and also Kochi Cricket Pvt. Ltd (KCPL) and also awards old 22. 06. 2015 have been pronounced. About 16th September 2015, BCCI challenged the above mentioned arbitration prizes by processing applications beneath Section 34 with the act. For the time being, i. elizabeth., on 23rd March 2015, the Ordinance 2015 has been promulgated from the President regarding India. Later the houses regarding Parliament regarding India approved the mentioned amendment act as well as the amended provisions came into effect coming from 23rd March 2015. The productive parties for the arbitration process filed performance applications wanting to enforce the aforementioned said a couple of awards. BCCI registered chamber summonses inside the High Court docket of Bombay searching for dismissal with the above mentioned applications regarding execution regarding arbitral award as the same are usually misconceived rather than maintainable.
CONTENTIONS WITH THE PARTIES: The key contention regarding BCCI was the above mentioned amending work of 2015 will be prospective inside nature and will be placed on the arbitration proceedings or perhaps related situations, only in the event the arbitration was initiated about or just before 23rd March 2015. But the particular parties which usually filed the particular enforcement program contented the amendment will be retrospective inside nature and also since this is a curative provision, it has force for your post arbitration proceedings together with immediate result. The Large Court although held the amending Act and its particular provisions are usually prospective inside nature nevertheless the amended Part 36 getting curative inside nature, is relevant to almost all pending process.