Mahima Rath, KIIT School Of Law
ABSTRACT
This research paper is particularly about the enforcement of Foreign Arbitral Awards under the necessary rules and regulations in India , considering both regional and International aspects. It states the necessity of recognitions and enforciability of International Arbitral Awards in India . This paper not only tries to put up an extensive analysis of the need and steps for recognition and enforcement of foreign arbitral awards in India but also ascertains whether Indian laws, rules and regulations agree with efficient International practice standards specifically mentioned in the New York Convention 1958 on promulgation of International Arbitral Awards . This paper consists of five chapters. The first chapter goes through the legal structure and mentions a brief history about rules accompanying arbitration and enactment of foreign arbitral awards. The second chapter mentions the general principles related to foreign arbitral awards. The third chapter caters to jurisdiction in establishment of foreign arbitral awards in India. Chapter four deals with the procedural steps asked by each state for upholding an award, focusing at import of necessary international conventions on other topics and issues. The last chapter, that is, chapter five talks about the limitations in the functionality of foreign arbitral awards in India. The paper suggests that we need to make certain and a lot of efforts in the field of arbitration in relation to International awards. This requires cooperation , both nationally and internationally and that, there needs to be a equillibrium maintained between the New York Convention and the Arbitration and Conciliation Act,1966.
Keywords:- Arbitration, Foreign , Awards, Recognition, Enforcement, India
