Validity of S.K. Jain Ruling Questioned as Arbitration Pre-Deposit Clause Issue Referred to Larger Bench: Supreme Court
The Supreme Court has raised an important legal question concerning contractual conditions that require a contractor to deposit a percentage of its claim amount before being allowed to invoke arbitration. In M/s Santosh Associate Private Limited v. Haryana State Industrial and Infrastructure Development Corporation Ltd., a Bench comprising Justice Manoj Misra and Justice Manmohan considered whether such a condition can lawfully restrict a contractor's access to arbitration. The Court did…
