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2015 (9) TMI 1629 - SC - Indian LawsMaintainability of petition - Section 14 of the Arbitration and Conciliation Act, 1996 - Foreign Awards - venue of conciliation or arbitration proceedings pursuant to this Article chosen is London, England and shall be conducted in the English Language - arbitration agreement was governed by the law of India - applicability of Part-I of the Arbitration Act, 1996 - Held that:- This Court has held that since the substantive law of the contract was Indian law and since the arbitration clause was part of the contract, the arbitration clause would be governed by Indian law and not by the Rules of the International Chamber of Commerce. This being the case, it was held that the mere fact that the venue chosen by the ICC Court for the conduct of the arbitration proceeding was London does not exclude the operation of the Act which dealt with domestic awards i.e. the Act of 1940. The theory of concurrent jurisdiction was expressly given a go-by with the dropping of Section 9(b) of the Foreign Awards Act, while enacting Part-II of the Arbitration Act, 1996, which repealed all the three earlier laws and put the law of arbitration into one statute, albeit in four different parts. This Court has already determined both that the juridical seat of the arbitration is at London and that the arbitration agreement is governed by English law. This being the case, it is not open to the Union of India to argue that Part-I of the Arbitration Act, 1996 would be applicable. A Section 14 application made under Part-I would consequently not be maintainable - SLP dismissed.
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