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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> High Court of Bombay <br /><br /> Execution of arbitration of arbitral award impermissible without permission of BIFR<br /><br /> MANU/MH/2374/2015 - (08 Sep 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">Armada (Singapore) Pte. Ltd. v. Ashapura Minechem Ltd.</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>Mere violation of Indian law is not sufficient to raise an objection for enforcement of the foreign award under Section 48 of the Arbitration Act, 1996. In a case where Petitioner sought execution of awards made by a foreign arbitrator, the Court held that though the awards were decreed, the Petitioner could not go ahead the same without permission from the Board for Industrial and Financial Reconstruction, in violation of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Section 22 Sick Industrial Companies (Special Provisions) Act, 1985 nActCompID=27209 Tropic Shipping Company Limited vs. Kothari Global Limited <manuid>MANU/MH/0790/2001</manuid> Penn Racquet Sports vs. Mayor International Ltd. <manuid>MANU/DE/0147/2011</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Arbitration, sica, foreign, bifr</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>