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Supreme Court allows enforcement of a Foreign Arbitral Award against Hindustan Copper in Favour of Centrotrade Minerals

Recently the Supreme Court has given its judgement on the enforcement of a Foreign Arbitral Award passed in the year 2001 against Hindustan Copper. 

Finally the third and its final judgement was pronounced in the favour of the foreign investor, CentroTrade Minerals and Metals Inc. 

In that matter the Supreme Court has finally held that an Award dated September 29, 2001 that was passed in London is enforceable in India also against Hindustan Copper.

There have been three rounds of litigation that were going in the Centrotrade line of cases, which leads to three significant judgments by the Supreme Court Of India.

 The First round was decided on May 9, 2006 in the culminating case of Centrotrade. This judgement was delivered by Justices S.B. Sinha and Tarun Chatterjee as regards the permissibility of a multi-tier arbitration procedure.

The second round was decided on December 15, 2016 in the culminating case of CentroTrade. The judgement by Delivered by three bench of Justice Madan Lokur, Justice DY Chandrachud and Justice Agarwal and upheld the legality of the two tier arbitration mechanism.

Third round was decided on March 5, 2020 by a three judge bench of Justices Rohinton Nariman, S Ravindra Bhat and V Ramasubramanian. And finally the last round was decided on June 2 in the Central Trade Saga. 

Now the issue which arose in the third round was whether Hindustan Copper was unable to present its cases in Article V (1)(b) of the New York Convention and consequently whether the ex-parte order can be enforced in India.

Later it was found based on the facts that Hindustan Copper was given ample opportunity to present its case by its counsel Fox and Mandal. Thereafter the Court has considered authorities from all over the world and held that the Foreign award would be enforceable in India.

CentroTrade in this case was represented by Senior Advocate Gaurab Banerji, and Overseas associate at Essex Court Chambers, as well as senior advocate Sidharth Bhatnagae and were instructed by M/s Karanjawala & Co. team including Ruby Singh Ahuja, Vishal Gehrana, Shravan Sahny and Ashutosh P. Shukla. 

Whereas Hindustan Copper was represented by a Senior Advocate Harin Raval who was instructed by Advocate Nadini Sen Mukherjee.