Indian Arbitration Quarterly Roundup - April To June 2022

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:

1. M/s Tirupati Steels v. M/s Shubh Industrial Component & Anr.

Citation: Civil Appeal No. 2941 of 2022

Decision Date: 19 April 2022

Pre-Deposit As Per The MSMED Act Is Mandatory To Challenge An Arbitral Award

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 2,72,33,153.