[Petition for Special Leave to Appeal (Civil) No.27404 of 2013]. After hearing the parties at length and upon going through the impugned judgment and order dated 6.8.2013 passed by Division Bench of High Court of Judicature at Bombay in Appeal No. 337 of 2013, filed under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act'), we are of the considered view that the impugned order is based upon proper appreciation of relevant facts and follows the law laid down by this Court correctly in arriving at the finding that in the facts of the case the courts in India have no jurisdiction to entertain the petition under Section 34 of the Act, challenging the international commercial award of an arbitral tribunal constituted by the Refined Sugar Association, London. S.L.P.(C)No.27404 of 2013 .... (contd.) There is no dispute between the parties that the Constitution Bench judgment of this Court in the case of Bharat Aluminium Company etc. vs. Kaiser Aluminium Technical Services Inc. etc. (BALCO)[1] overruled the earlier judgment in Bhatia International Vs. Bulk Trading S.A. and Anr.[2] in coming to the conclusion that Part I of the Act would have no application to international Commercial Arbitration held outside India, but on account of further direction that the law so declared shall apply only prospectively to all arbitration agreements executed thereafter, the arbitration agreement in the present case is to be governed by the law decided in the case of Bhatia International (supra).
↧