In a significant ruling, the Supreme Court of India, in Nagaraj V. Mylandla vs. PI Opportunities Fund-I and Ors. Etc.1, for the first time, has recognised the doctrine of ‘transnational issue estoppel’. It has clarified that findings of a foreign court at the seat of arbitration attain finality and operate as a bar to subsequent challenges in enforcement proceedings in India. The judgment further reiterates that the public policy exception must be construed narrowly and cannot be used as a vehicle to reopen merits of the dispute.
Please click here to read the co-authored chapter by Dheeraj Nair, Partner, Kumar Kislay, Partner, and published in Mondaq.
Dheeraj is a Partner with JSA since 2009. Dheeraj has over two decades of experience advising and representing clients on complex arbitrations, litigations and regulatory proceedings.