A local court in the national capital has disposed of a petition filed by the HDFC Bank Limited seeking enforcement of an Ex-parte Arbitral Award passed by a sole arbitrator, who was unilaterally appointed by the DH Finance Company on August 27, 2021, in its favour
Allahabad High Court while hearing a petition filed by Smt Tulsarani and Another held that commercial courts cannot entertain applications filed under Section-34 of the Arbitration and Conciliation Act-2013 challenging the quantum of compensation awarded under the National Highways Act (NHI)-1956.
The Supreme Court on Thursday, while expressing concern over a large number of execution applications pending before the Allahabad High Court under Section 34 of the Arbitration and Conciliation Act, the pendency of such execution applications and commercial disputes affects the ease of doing business.
Another question raised in the petition was that if both parties agree to decide the claims afresh by such an independent arbitrator appointed by the court, whether the court can remand back the matter to the same arbitrator who delivered the award.
In a landmark order, the Court set aside a Gujarat High Court order under Articles 226 and 227 and said that its power to interfere with the arbitration process needs to be exercised in exceptional rarity.