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ARTICLE · 01 JUNE 2017

Arbitral Awards: It Would Be Advisable For Foreign Investors To Tread Cautiously

Luthra and Luthra Law Offices India
Luthra and Luthra Law Offices India
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In the space of a month, the Delhi High Court has delivered two judgements that significantly impact the interplay between enforcement of foreign arbitral awards in India and the foreign exchange regime

IndiaLitigation, Mediation & Arbitration
Vaibhav Kakkar
Vaibhav Kakkar
Sahil Arora
Sahil Arora
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In the space of a month, the Delhi High Court has delivered two judgements that significantly impact the interplay between enforcement of foreign arbitral awards in India and the foreign exchange regime

Additionally, they have an important signalling effect for the Indian economy by emphasising the sanctity of contract.

In the space of a month, the Delhi High Court has delivered two judgements that significantly impact the interplay between enforcement of foreign arbitral awards in India and the foreign exchange regime. Additionally, they have an important signalling effect for the Indian economy by emphasising the sanctity of contract. These rulings, which allowed for certain foreign arbitral awards to be enforced in India, negate the contentious argument that enforcement of these awards would be contrary to the Foreign Exchange Management Act, 1999, and therefore opposed to the 'public policy of India'. This is likely to have a significant impact not just on

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