Snehal Bhatia, Symbiosis Law School, Noida
ABSTRACT
In today's world, business transactions are frequently complex, multi-layered, and require parties from multiple jurisdictions signing numerous agreements. As a result, the parties engaged confront a number of challenges in ensuring that the transaction's primary economic goal is met all the while preserving the interests of other parties involved. When these complex multi-layered transactions are brought before conflict resolution forums, it is difficult to balance the interests of all stakeholders, and often roadblocks occur. Arbitrators are typically tasked with protecting party autonomy but also bringing the complete matter under one umbrella in order to ensure uniformity. There are often instances wherein a dispute affects, not just two parties of the primary contract, but multiple parties which are connected to the dispute. There can be circumstances wherein several parties are bound in not just one but many contractual obligations (in case of international business ventures, joint ventures or mergers of companies, effect of contract of parent company on subsidiary companies etc). In such circumstances, resolving the issue through arbitral proceedings becomes a complicated process. This Research Paper examines how multiparty arbitration takes place and the author through this paper attempts to present comprehensive information relevant to multi-party arbitration as governed by International norms and in Indian jurisdiction.
