In a landmark judgment (Centrotrade Minerals Vs Hindusthan Copper), accepting the concept of ‘two tier arbitration’ or ‘second instance arbitration’, a three judge bench of the Supreme Court comprising of Justices Madan B. Lokur, R.K Agrawal and D.Y Chandrachud answering a reference made in 2006 due to divergence of opinions between Justice S.B.Sinha and Tarun Chatterjee, held that arbitration clauses which provide for a two- step arbitration process are valid under Indian arbitral jurisprudence.
Article referred: http://www.livelaw.in/two-tier-arbitration-procedure-permissible-laws-india-sc/
Article referred: http://www.livelaw.in/two-tier-arbitration-procedure-permissible-laws-india-sc/
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