The Constitution Bench on 6.9.12 held:
" The judgment in Bhatia International (supra) was rendered by this
Court on 13th March, 2002. Since then, the aforesaid judgment has been
followed by all the High Courts as well as by this Court on numerous
occasions. In fact, the judgment in Venture Global Engineering (supra) has
been rendered on 10th January, 2008 in terms of the ratio of the decision
in Bhatia International (supra). Thus, in order to do complete justice, we
hereby order, that the law now declared by this Court shall apply
prospectively, to all the arbitration agreements executed hereafter."
