Legislative Framework Relating to Investment Arbitration

Abstract

 ‘Investment Arbitration’ is one of the most popular methods for ‘resolving the Investor-state disputes.’ ‘Investment arbitration’ is administered through rules which are either institutional or ad hoc. Based on these set of rules, the arbitral tribunal is constituted which takes into consideration any issue arising between the contesting parties. These issues are majorly based on the violation of treatment standards as ensured by the host states in their BIT’s. Apart from the BIT’s which are administered under rules of public international law, the domestic laws of host states also plays a very crucial role in enforcement of the awards rendered by the investment arbitral tribunals. In this paper, the author has tried to examine the Legislative Framework relating to Investment Arbitration in India. India being one of the most popular host states with the foreign investors, attracts foreign investments through its structured regulatory framework. India has developed its institutional setup for administering international commercial disputes. In this paper, the researcher has tried to analyze the legal framework based on UNCITRAL Model Law, specifically for the enforcement of investment arbitral awards. The researcher has also made a comparative analysis of legislative framework facilitating enforcement of investment arbitration awards with ICSID signatory states like USA, UK and Singapore. Lastly, the researcher has concluded with suggestions on improving the legislative framework in India.