Amendment in Section 29A of Arbitration Act vide Amendment  Act of 2019 being a procedural in nature shall be applicable to all pending arbitrations as on the date of amendment is correct – ONGC Petro Additions Limited Vs. Ferns Construction Co. INC – Delhi High Court

Hon’ble High Court held that by the Amendment of 2019 to Section 29A (1), the time period for making an Arbitral Award in international commercial arbitration been made inapplicable. The prescription of time limit by Amendment Act of 2015 had not conferred any rights or liabilities on a party rather it was a procedural law establishing a mechanism for the Arbitral Tribunal to render the award, which determine the rights and liabilities of parties in twelve months and surely the removal thereof also does not confer/affect rights of any party to be given effect prospectively.

Amendment in Section 29A of Arbitration Act vide Amendment  Act of 2019 being a procedural in nature shall be applicable to all pending arbitrations as on the date of amendment is correct – ONGC Petro Additions Limited Vs. Ferns Construction Co. INC – Delhi High Court Read Post »