11/May/2021, 3:57 PM, Authored by Hiroo Advani & Manav Nagpal
The decision of the 3-Judge Bench of the Supreme Court of India in N.N. Global Mercantile (P) Ltd. v. Indo Unique Flame Ltd. (Global Mercantile) has undoubtedly marked the inception of a new era of pro-arbitration jurisprudence in India. The seminal judgment of the Supreme Court delivered on 11-1-2021 has brought India more in consonance with the opinions of the courts in the western world that have pioneered International arbitration jurisprudence for decades. The present article will study the far-reaching effect of the judgment and will highlight the manner in which the Supreme Court through its cogent and contemporary reasoning has discarded the fetters that recalcitrant parties would weaponise to circumvent their obligations in honouring valid arbitration agreements.