On the night of February 21, 2024, the Union Cabinet, in a historic move, announced its decision to amend the Foreign Direct Investment (FDI) policy in the space sector, by creating new sub-sectors wi...
Recently, the Supreme Court of India has, in the case of Vijay Karia and Ors. v. Prysmain Cavi E Sistemi SRL & Ors., set the law in motion by narrowing the judicial interference in enforcement of foreign awards under Section 48 of Arbitration and Conciliation Act, 1996. The jurisdiction of the Supreme Court was invoked under Article 136 of the Constitution of India, by filing a Special Leave Petition against the decision of the Bombay High Court, which held the award passed by the Arbitral Tribunal to be enforceable, as the objections did not fall within any of the 'legal pigeonholes' contained in Section 48 of the Act. In light of this, INDUSLAW's Sushmita Gandhi, Anamika and Bhargav Kosuru examine the law on this aspect.
