By Piyush Prasad, LL.M. Candidate, The University of Chicago Law School (Class of 2017)
A. The Problems in Cross-Border Arbitration Involving Indian Companies
Any cross-border investment involves financial and enforcement risks. Because of its speed, efficiency, and flexibility, arbitration is usually chosen as the dispute resolution method for cross-border transactions. However, the choice of arbitration does not eliminate reliance on courts. For example, a foreign company may require interim relief from local courts in an exigency. Moreover, for enforcement of awards or decisions, reliance on courts is necessary. These inequalities sometimes nullify the advantages of arbitration, especially in cross-border disputes when timely relief is critical.
This post briefly discusses the solutions to practical problems of cross-border arbitrations in the Indian context.
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