Back
SUSHRUT ARVIND DHARMADHIKARI, PRAKASH CHANDRA GUPTA
Kamal Cotspin Pvt. Limited – Appellant
Versus
Canara Bank (Syndicate Bank) – Respondent
JUDGMENT
Sushrut Arvind Dharmadhikari, J. - Heard on admission.
1. The present application under Section 15(5) of The Commercial Courts Act, 2015(hereinafter referred to as .....'the Act of 2015) has been filed by the petitioner seeking transfer of Arbitration Case pending under Section 36 of the Arbitration and Conciliation Act, 1996(MJC AV 08/2018) before the Court of IXth Additional District Judge, Indore to the Court of 'Commercial Court - VIIth Additional District Judge, Indore'.
2. Learned counsel for the petitioner contended that the aforesaid proceeding arises out of the Arbitration Award dated 19/08/2017 and the execution of the same is pending before the IXtth Additional District Judge, Indore. He further submitted that by virtue of Section 15(2) of the the Act of 2015, all the proceedings of suits, applications and arbitration cases are liable to be transferred to the Commercial Courts, therefore, the execution proceedings, initiated based on the award passed under the Arbitration and Conciliation Act 1996, ('hereinafter to be referred to as 'the Act of 1996') are also liable to be transferred to the Commercial Courts.
3. On the other hand, learned counsel for the respondent
The main legal point established is that execution proceedings based on an arbitration award are liable to be transferred to the Commercial Court as per Section 15 of the Act of 2015.
The main legal point established in the judgment is the appealability of orders under Section 13 and Section 15 of the Commercial Courts Act, 2015, and the interpretation of the relevant provisions o....
The judgment emphasizes the importance of exhausting the statutory remedy provided under the Commercial Courts Act, 2015 before approaching the High Court under Article 227 of the Constitution of Ind....
Commercial Courts are empowered to execute arbitral awards under the Arbitration and Conciliation Act, reaffirming the intent of the Commercial Courts Act for speedy resolution of commercial disputes....
The main legal principle established in the judgment is that the Commercial Court has the jurisdiction to execute its own decree or a decree transferred to it, where the value is above the specified ....
The Commercial Courts Act, 2015 grants jurisdiction to Commercial Courts for executing arbitral awards related to commercial disputes, emphasizing expedited resolution.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
