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March 3, 2020UAE judgments find their way to execution in India
This article was originally published in the 27th February 2020 edition of
According to official records, the UAE has invested over US$ 5 billion in India through FDI (Foreign Direct Investment) and FII (Foreign Institutional Investors) routes which makes UAE one of the top investors in India; India is also a third largest investor in UAE. As per an estimate published by the Indian Embassy, there has been a growth of 20.09% in India-UAE trade in 2018-19.
Such steep rise in the number of cross-border transactions between India and UAE has also resulted in a proportionate rise in commercial disputes. This has further necessitated efficient methods of dispute resolution, and enforcement of consequent decrees in both the countries. Therefore, in the absence of an effective enforcement mechanism, securing a judgment from courts may only be a battle half won.
This article discusses the transition in the procedure applicable to execution of judgments from UAE courts in India pursuant to a recent notification issued by the Central Government of India, and the implications thereof.
For compete article, please click here.