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The Impact Arbitration & Conciliation (Amendment) Act,2015 in Energy DisputesInfraline Energy-Law Assemle India Summit 27-28th July 2016 Hotel Shangri-La New Delhi
Presented by S. Ravi Shankar, Arbitration lawyer & Senior Partner
Law Senate Law Firm – New Delhi, [email protected]
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International Energy Disputes in Asia Disputes often Occur from Long Term Energy Contracts Energy Disputes are expensive and Disrupt operations Common Energy Disputes include Very High unexpected fluctuation in Price Unexpectedly increased Costs Delays State intervention Environmental matters
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Arbitration seated in India Procedural law – Arbitration & Conciliation Act,1996 Similar to UNCITRAL Model law on arbitration India is a signatory to New York Convention on
recognition & Enforcement of International Arbitral awards 1948
India has made big changes in the its arbitration Act by Arbitration & Conciliation (Amendment) Act,2015
For the First time, natural India seated International Arbitrations have become a possibility
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India Seated International Arbitrations - Attractions to Foreign Parties Power to Chief Justice to designate an Institution to appoint
arbitrators Arbitrator from a Neutral Country mandatory Fees fixed for the ad-hoc arbitrators on the basis of the
value of the dispute (4th Schedule) (No sitting, reading & writing fee)
Arbitral Institutions are allowed to have a higher Fee scale An arbitration has to be completed within 12 months S.29A Both parties can jointly extend the completion period by 6
months While extending the time for completion court can fix terms
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India Seated International Arbitrations - Attractions to Foreign Parties
Fast Track Arbitration S.29B to be completed with in 6 months
If Arbitrator can not complete the arbitration within the time limit he looses the mandate to continue the arbitration
Interim orders can be granted by Indian Courts in support of Foreign seated International Arbitrations
Costs follow the event S.31.A Costs including counsel fees, expenses, arbitrator
fees can be claimed
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India Seated International Arbitrations - Attractions to Foreign Parties No automatic stay on filing of an appeal challenging an
Arbitral award S.36, while granting stay courts can impose terms
Disclosure to be made by Arbitrators about their relationship with parties & counsels (Fifth Schedule) to ensure impartiality in the lines of “ IBA Guidelines on Conflict of interest in International Arbitrations.
Narrow scope for the Term Public Policy S.34 to avoid courts interference into the arbitral awards
Designated Court For International Arbitration is High Court
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THANKS
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