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SC Determines the Conversion Rate of Foreign Award Expressed in Foreign Currency to Indian Rupees - (12 Aug 2024)

ARBITRATION

SC has held that statutory scheme makes a foreign arbitral award enforceable when objections against it are finally decided. Therefore, as per A&C Act, 1996, relevant date for determining conversion rate of foreign award expressed in foreign currency is the date when the award becomes enforceable.

Tags : SUPREME COURT   FOREIGN ARBITRAL AWARD   CONVERSION RATE  

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