https://www.taxtmi.com/caselaws?id=184746 A lender is not disentitled from seeking a stay under Section 3 of the Foreign Awards (Recognition and Enforcement) Act, 1961 unless it has validly appeared and taken a binding step in the suit; unauthorised filing of time applications contrary to limited instructions did not amount to such a step. The arbitration clause remained effective despite a separate contractual reservation of an additional right to sue in specified courts, because that reservation did not nullify or render the arbitration agreement inoperative. Separate contracts with different parties and the possibility of different arbitrators did not make performance impossible, so the suit was stayed in favour of foreign arbitration. en-us Mon, 24 Jan 1994 00:00:00 +0530 Tue, 19 Jul 2016 11:47:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184746 A lender is not disentitled from seeking a stay under Section 3 of the Foreign Awards (Recognition and Enforcement) Act, 1961 unless it has validly appeared and taken a binding step in the suit; unauthorised filing of time applications contrary to limited instructions did not amount to such a step. The arbitration clause remained effective despite a separate contractual reservation of an additional right to sue in specified courts, because that reservation did not nullify or render the arbitration agreement inoperative. Separate contracts with different parties and the possibility of different arbitrators did not make performance impossible, so the suit was stayed in favour of foreign arbitration. Case-Laws Indian Laws Mon, 24 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184746