In recent times, several noteworthy judgments have been rendered
by the Indian courts in matters relating to the law of arbitration
in India. Some decisions rendered in the second quarter of 2022
that discuss the legal position concerning the interpretation and
applicability of provisions of the Arbitration and Conciliation
Act, 1996 have been summarised below:
- Pre-Deposit As Per The MSMED Act Is Mandatory To
Challenge An Arbitral Award
M/s Tirupati Steels v. M/s Shubh Industrial
Component & Anr.
Citation: Civil Appeal No. 2941 of 2022
Decision Date: 19 April 2022
Brief Facts
The parties are governed by the provisions of the Micro, Small
and Medium Enterprises Development Act, 2006 (MSMED
Act). The appellant, M/s Tirupati Steels, preferred a
claim petition before the Micro and Small Enterprises Facilitation
Council (Council) for the recovery of INR
1,40,13,053 and interest amounting to INR 1,32,20,100 which
comes to a total amounting to INR
