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Arbitration: 2019 Amendment To Section 29A Timeline Has Retrospective Effect From 23 October 2015, Holds Delhi HC

Infusing clarity on the applicability of the amended Section 29A of the Arbitration and Conciliation Act, 1996, (“the Act”), the Single Judge of the Delhi High Court (“Court”) in the case of ONGC PETRO ADDITIONS LIMITED vs. FERNS CONSTRUCTION CO. INC, pronounced on 21 July 2020, has found that the amendments to Section 29A (1) in 2019, fixing the 12 month time frame from the completion of pleadings and excluding international commercial arbitrations in India (“ICA”) from its scope are “retrospectively applicable to arbitration proceedings commenced after 23 October 2015.”

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.