Court Enforces Foreign Arbitral Award; Respondents Fail to Provide Valid Grounds for Refusal. RBI Approval Required.

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....Enforcement of final foreign arbitral award - The respondents failed to establish any ground on which the recognition of the Foreign Award should be refused. Consequently, subject to the requirement of obtaining RBI approval before initiating further proceedings for enforcement, the Foreign Award is recognized and held to be enforceable as a decree of this Court. - HC....