Arbitration Act 1940
Section 46
When Foreign Award Binding
Any foreign award which would be enforceable
under this Chapter shall be treated as binding for all purposes on the persons
as between whom it was made, and may accordingly be relied on by any of those
persons by way of defense, set off or otherwise in any legal proceedings in
India and any references in this Chapter to enforcing a foreign award shall be
construed as including references to relying on an award.