Bombay HC rules in favour of IMAX, clears way to enforce arbitral awards against E-City

Core Viewpoint - The Bombay High Court has ruled in favor of IMAX Corporation, allowing the enforcement of foreign arbitral awards against E-City Entertainment, which had previously delayed enforcement for nearly two decades [1][8]. Group 1: Court Ruling and Awards - A division bench of justices Advait M Sethna and M S Sonak set aside a previous order that refused to recognize three foreign arbitral awards from 2006 to 2008, declaring them enforceable in India [1][8]. - The ICC tribunal ordered E-City Entertainment to pay $11.3 million plus interest, which had accumulated to $20.86 million by March 31, 2018 [2][8]. Group 2: Enforcement and Restrictions - The court clarified that no independent execution can be levied against E-City Entertainment (India) Pvt Ltd or its associated companies, which are not personally liable for the awards [5][8]. - E-City Entertainment has been restrained from dealing with its properties and assets, including bank accounts, until further orders [6][8]. Group 3: Delays and Costs - The court noted E-City Entertainment's delay in enforcing the awards and the diversion of assets worth ₹210 crore during arbitration proceedings [7][8]. - A cost of ₹5 lakh has been imposed on E-City Entertainment, payable to IMAX within four weeks [9].