Arbitration

Sruthi Aravind (Querist) 28 February 2013 This query is : Resolved
Can anyone waive a statutory right? can any parties through an agreement waive the right provided under section 9 of Arbitration and conciliation Act?

fact is this.
an Indian entity purchased the entire shareholding of an Indian, in another Indian Company.In this regard, two Agreements were entered into- the first on 10.08.2011 (the “first agreement”) and the second on 10.10.2012 (the “second agreement”). The first agreement was a share purchase agreement which also provided for the consideration payable and for certain condition precedents to be complied with by the Seller.
Following the first agreement, the parties, by way of an exchange of emails agreed on the mechanics for execution of the payment obligations under the first agreement. In particular, they agreed to a staggered payment of the consideration in three stages, each payment being due after the completion of a condition precedent
The first agreement contained an arbitration clause providing for arbitration in Singapore. The law governing the underlying contracts and the law governing the arbitration agreement was not set out in the two agreements.
The agreement also contained a provision which provided that the parties waived their right to approach a Court for seeking any interim relief.

1.can such a provision be added?
2.can the place of arbitration be at a foreign country in this circumstance?
3.does the seat at singapore makes the first part of the Arbitration Act not applicable to this case?

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ajay sethi (Expert) 28 February 2013
academic query . state facts of your case

Guest (Expert) 28 February 2013
What right do you consider as statutory right and how that is concerned with the Interim measures by Court in connection with the arbitral proceedings?

prabhakar singh (Expert) 28 February 2013
If non jurisdiction of court was pleaded after filing of written statement then it would amount to waiver says statute it self.

R.K Nanda (Expert) 01 March 2013
state real facts.

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