Rama Agro and Food Products and Ors. Vs. Debts Recovery Appellate Tribunal Allahabad and Ors. – Allahabad High Court
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Punjab National Bank Vs. Ikram Khan and 4 Ors. – Allahabad High Court Read Post »
Hon’ble High Court held that:
(i) An agreement can be made even before enactment of New Act, 1996 for its applicability and in arbitration clause there is such agreement already present, therefore, there is no need to have any new agreement for compliance of Section 85(2)(a) and proceedings can be continued in New Act, 1996.
(ii) It is apparently clear that Apex Court in Paramjeet Singh Patheja Vs. ICDS Ltd. has firmed view that though the arbitral award can be enforced under Section 36 of New Act alongwith the provisions of CPC, but arbitral award is not a decree under Section 2(2) of CPC.
(iii) Arbitral award is not a decree under Section 2(2) of CPC, therefore, objection filed under Section 47 of CPC is not maintainable.