Challenges In Enforcing Foreign Arbitration Award In India

Nagaraj K Hegde, Alliance School of Law, Alliance University, Anekal, Bengaluru.

INTRODUCTION:

Effective enforcement of foreign arbitration award in India is a prime difficulty that have been found in recent days. The developments in the transforming the arbitration method to deal with the domestic problems to adopt the procedures in the foreign arbitration in India is taking a significant importance these days. The pronouncements of the courts in India in situations where, the result was very effective in the establishment of institutional arbitration in India. The development of institutional arbitration led to rise in approaches to solve the problem in the international commercial transactions. There are many factors which are affecting the global transaction and that are looked from the lens of arbitration as the main tool to solve the problems. One of the main reasons is that evolution in international investments, trades and transactions. The approach towards looking into a transaction by different countries are different. Through, there is rise of bilateral agreements for conducting the business as well as in solving the conflict arises out of business. It has not resulted to that extent because conflicts got high dimensional in numbers and increase in the depth of the problem, and the effect of the problem. The problem used to remain even after the arbitration award has been delivered. This is solved through arbitration based on agreement between the parties.