Enforcement of Foreign Arbitral Awards in India – Current Issues and Challenges

This research paper is concerned with the enforcement of Foreign Arbitral Awards under the relevant regimes in India, both local and International. The easy enforceability of arbitration awards is considered one of the main factors in the success of International Commercial Arbitration. This paper not only attempts a comprehensive analysis of requirement and procedures for recognition and enforcement of foreign awards in India but also evaluate whether Indian laws and practice comply with best International practice standards especially embodied in the New York Convention 1958 on enforcement of foreign arbitral awards. This research work comprises five Parts. The first part examines the legal framework and provides a brief history of rules governing arbitration and enforcement of foreign arbitral awards. Chapter two looks at general principles governing the enforcement of foreign arbitral awards. Part three covers jurisdiction in the enforcement of arbitration awards in India. Part four examines procedural steps required by each state for enforcement of an award, looking particularly at the import of relevant international conventions on other issues. Part five deals with the limitations in the enforcement of foreign arbitral awards. The concluding chapter deals with a summary of all the problems and suggests a common way forward for the legal system of the state in dealing with these issues. There needs to be a lot to be done in the area of arbitration concerning foreign awards. The Act itself needs a review and the precedent set up by the courts are somewhat perplexing. The enforcement of foreign awards requires cooperation at both national and international levels. There needs to strike a balance between the New York Convention and the Arbitration & Conciliation Act of 1996.