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On the night of February 21, 2024, the Union Cabinet, in a historic move, announced its decision to amend the Foreign Direct Investment (FDI) policy in the space sector, by creating new sub-sectors wi...
The Arbitration and Conciliation Act, 1996 (“Actâ€) initially caused some concern for Indian parties entering into commercial contracts with foreign collaborators. The primary reason of concern was that in cases where the Indian party has been bulldozed into agreeing to expensive arbitration proceedings abroad, it appeared as if they would also have to approach a foreign court of law to obtain any interim relief, pending the commencement of such arbitration or to challenge the award even though the subject-matter of such contracts would fall within the jurisdiction of Indian courts.
