On 10 January, 2008, the highest court in India decided the case of Venture Global Engineering v Satyam Computer Services. The Supreme Court’s decision casts grave doubt on India’s commitment to international arbitration and poses a new challenge to foreign investors in India.
India has long been a difficult jurisdiction for international arbitration. The enactment of the Indian Arbitration and Conciliation Act 1996 was thought to be a milestone, bringing Indian law into line with international practice on arbitration and reassuring the commercial world of India’s commitment to investor protection.
