A local court in the national capital has disposed of a petition filed by the HDFC Bank Limited seeking enforcement of an Ex-parte Arbitral Award passed by a sole arbitrator, who was unilaterally appointed by the DH Finance Company on August 27, 2021, in its favour
Allahabad High Court while hearing a petition filed by Smt Tulsarani and Another held that commercial courts cannot entertain applications filed under Section-34 of the Arbitration and Conciliation Act-2013 challenging the quantum of compensation awarded under the National Highways Act (NHI)-1956.
The Supreme Court on Thursday, while expressing concern over a large number of execution applications pending before the Allahabad High Court under Section 34 of the Arbitration and Conciliation Act, the pendency of such execution applications and commercial disputes affects the ease of doing business.
The Bina Modi-Lalit Modi case has shown the importance of Indian courts adhering to UNCITRAL’s model rules and principles while deciding arbitration disputes and not obstructing the ADR process.