2016 (1) TMI 1383

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....Chatterjee for the respondent The Court: The Arbitration and Conciliation (Amendment) Ordinance 2015 was promulgated on 23rd October, 2015. This Ordinance was repealed by the Arbitration and Conciliation (Amendment) Act 2015, which received the assent of the President on 31st December, 2015 and was published in the Gazette of India on 1st January, 2016. Under Section 36 of the Arbitration....

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.... Order 41(1)(3) and 41(5)(3)(c) of the Code of Civil Procedure. In other words, stay could be obtained on securing the awarded amount. It was not automatic on 'making' of a setting aside application. The subject award was made and published on 30th July, 2015. This application to set aside the award was filed on 26th November, 2015. Mr. A.Ghosh, learned Advocate for the respondent, t....

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....h submitted that admittedly the arbitral proceedings in the instant case commenced before it coming into force of the Amendment Act. The Act before amendment applied. Section 36 of the 1996 Act did not contain any provision for furnishing of security by an applicant in an application to set aside the award. On the contrary once an application was filed within time, the execution proceedings cou....

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.... to execution in the Civil Procedure Code which provides for taking security from a judgement debtor. In my opinion the repeal and savings clause of the Amendment Act of 2015 did not make applicable the amendment Act in case of arbitration which commenced before its enactment. Since the subject arbitration commenced much prior to coming into force of the Amendment Act, nothing in it applies to ....