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Essay / International Arbitration and its Interim Measures in India
International Arbitration and its Interim Measures in India - Iti SinghIntroductionIn this research paper, after dividing it into two, I have briefly discussed the emergence of international arbitration in India and then divided into interim measures. the remedies granted by the courts to ensure natural justice, the internal admonitions encountered as well as those created – either by judicial intervention in granting interim measures or by the limited powers given to arbitral tribunals to grant them. I have further explained my views on the stumbling blocks and obstacles that have prevented India from becoming a destination for international arbitration in part one. In the second part, I finally proceeded to confabulate the landmark judgment of the Supreme Court in the BALCO case, overturning the Bhatia International v. Bulk Trading, which poses a brick wall prior to legal intervention in India. This part of my research paper will examine the benefits of now organizing arbitration in India, largely benefiting foreign investors. In Part III, I concluded my research paper by succinctly discussing the future of arbitration in India after the BALCO case which changed the face of arbitration in India. India.Part I: International Arbitration and Interim Measures Provided in India: Arbitration, as defined by McIlwraith, is a process by which parties agree to the binding resolution of their disputes by arbitrators, called arbitrators, who are selected by the parties, ei ...... middle of paper ...... courts must seek interim measures and arbitrate outside India but having no such access. This gradual upgradation after 2012 is likely to spark business opportunities in India and alliances with Indian parties. to opt for international commercial arbitration with a seat outside India, or even to choose India as the seat of arbitration, if they wish to benefit from the protection of interim measures against parties whose assets are located in India. The judgment is an important step towards establishing India as an arbitration-friendly jurisdiction only if India could address the shortcomings in provisional measures, cost-effectiveness grievances and timely resolutions. timely in the arbitration proceedings, then it would do so in the not too distant future. , be able to insist that the arbitration proceeding must take place in its country of origin.