Section
53-
Interpretation
In this chapter "foreign award" means an arbitral award on differences relating to matters considered as commercial under the law in force in India made after the 28th day of July 1924 -
(a) in pursuance of an agreement for arbitration to which the Protocol set forth in the Second Schedule applies and
(b) between persons of whom one is subject to the jurisdiction of some one of such Powers as the Central Government being satisfied that reciprocal provisions have been made may by notification in the Official Gazette declare to be parties to the Convention set forth in the Third Schedule and of whom the other is subject to the jurisdiction of some other of the powers aforesaid and
(c) in one of such territories as the Central Government being satisfied that reciprocal provisions have been made may by like notification declare to be territories to which the said Convention applies and for the purposes of this chapter an award shall not be deemed to be final if any proceedings for the purpose of contesting the validity of the award are pending in the country in which it was made.
The Arbitration and Conciliation Act, 1996
Judgement(s) Found in :
The Arbitration and Conciliation Act, 1996
Section 53