https://www.taxtmi.com/caselaws?id=414768 Section 48(2)(b) of the Arbitration and Conciliation Act, 1996 permits only a narrow public policy inquiry when resisting enforcement of a foreign award, and it does not allow a merits review of the arbitral tribunal's reasoning. The article notes that the fundamental policy exception is confined to a clear breach of basic Indian legal principles. It also explains that the award was viewed as commercially coherent and not shown to violate the Securities Contracts (Regulation) Act or FEMA in a manner attracting the public policy bar. On that basis, the foreign award was treated as enforceable and executable as a decree. en-us Wed, 10 Nov 2021 00:00:00 +0530 Tue, 16 Nov 2021 11:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414768 Section 48(2)(b) of the Arbitration and Conciliation Act, 1996 permits only a narrow public policy inquiry when resisting enforcement of a foreign award, and it does not allow a merits review of the arbitral tribunal's reasoning. The article notes that the fundamental policy exception is confined to a clear breach of basic Indian legal principles. It also explains that the award was viewed as commercially coherent and not shown to violate the Securities Contracts (Regulation) Act or FEMA in a manner attracting the public policy bar. On that basis, the foreign award was treated as enforceable and executable as a decree. Case-Laws Indian Laws Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414768