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Arbitration award can be filed and executed in the Court where the assets are located

In SUNDARAM FINANCE LIMITED vs ABDUL SAMAD & ANR., the issue was divergence of legal opinion of different High Courts on the question as to whether an award under the Arbitration Act, 1996 is required to be first filed in the court having jurisdiction over the arbitration proceedings for execution and then to obtain transfer of the decree or whether the award can be straightway filed and executed in the Court where the assets are located is required to be settled in the present appeal.

Putting at rest a difference of legal opinion between several High Courts throughout the country, the Supreme Court ruled that an arbitral award can straightaway be filed and executed in the Court where the assets are located, without first obtaining a transfer of decree from the Court which would have jurisdiction over the arbitral proceedings.

Article referred: http://www.livelaw.in/arbitral-award-can-straightaway-executed-court-assets-located-without-obtaining-transfer-decree-sc-read-judgment/

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