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SURESHWAR THAKUR, SUDEEPTI SHARMA
ICICI Bank Ltd. – Appellant
Versus
Orient Clothing Co. Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. constitution of larger bench for jurisdiction issue. (Para 1 , 2) |
| 2. whether the agreement implies an exclusive jurisdiction. (Para 3) |
| 3. parties waived objections regarding jurisdiction venue. (Para 4 , 5 , 6) |
| 4. validity of consensual jurisdiction established by higher courts. (Para 7 , 8 , 9) |
| 5. conferment of jurisdiction not void as per the contract act. (Para 10 , 11) |
| 6. effects of valid contractual jurisdiction on the parties. (Para 12 , 13 , 14 , 15) |
| 7. conclusion and order regarding the civil revision petition. (Para 16) |
JUDGMENT :
SURESHWAR THAKUR , J.
1. The present reference becomes generated from the order pronounced by the learned Single Bench of this Court, on 04.10.2010 upon CR-5492-2010, whereins, the learned Single Bench of this Court has passed the following order:-
2. Consequently, under the orders of the Hon’ble Chief Justice, the instant Larger Bench has been constituted.
3. The counsels appearing today before this Court have been heard at length.
4. A specific clause 13(b), is borne in the ISDA Agreement, as became executed between th
An agreement can confer exclusive jurisdiction to a specific court, waiving objections to jurisdiction in other courts, provided that the clause is valid under Section 23 of the Contract Act.
Designation of the seat of arbitration must be clearly expressed; conflicting jurisdiction clauses require a harmonious construction favoring the overarching agreement.
The choice of seat of arbitration has the legal effect of conferring exclusive jurisdiction on the Courts of that seat and no other Court would have jurisdiction under the arbitration agreement.
Once seat of arbitration is replaced by mutual agreement, parties have to be referred to Courts at that place for resolution of Section 34 petition.
The jurisdiction for appointing an arbitrator lies with the court where the principal agreement was executed, as per Section 11(6), despite a venue specified in an ancillary agreement.
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