In a major legal development, by an order dated 24 October 2024, the Bombay High Court dismissed a Petition filed under Sections 47, 48 and 49 of the Arbitration and Conciliation Act, 1996 (“Act”) by one Imax Corporation (“IMAX”) seeking recognition and enforcement of a foreign award, being violative of public policy of India in Commercial Arbitration Petition No. 414 of 2018 – Imax Corporation v E-City Entertainment (I) Pvt Ltd & Ors. A reading of the order makes it evident that whilst the Hon’ble Bombay High Court has rejected the enforcement of the Awards, the said decision has been passed keeping in mind the limited scope of the enforcement court and the pro enforcement bias contemParinamted under Section 48, Part II of the Act.
