In this post, SUMIT RAI updates us on the constitutional bench decision of the Supreme Court of India which held that Indian courts would have no jurisdiction over arbitration held outside India.
The good news is that the Supreme Court of India has overruled the severely criticized decisions in Bhatia International vs. Bulk Trading and Venture Global vs. Satyam Computers. In short, the Supreme Court held that the intention of legislature was clear that the territoriality principle was adopted in India as recommended under the UNCITRAL Model Law. Indian courts would, therefore, have no juisdiction over international commercial arbitration held outside India. Read the rest of this entry