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left arrow Apr 28, 2026

Delhi High Court Holds That Damages Awarded By Foreign Courts Not Subject To FEMA / RBI Directions

Delhi High Court (‘HC’) in Peter Beck und Partner Vermögensverwaltung GmbH v. Prakash Industries Limited[1] held that amounts awarded by a competent court, whether Indian or foreign, towards damages for breach of contract, cannot be subject to ceilings prescribed under FEMA and/or circulars/directions issued by the RBI. The Delhi HC observed that a decree passed by a foreign court of competent jurisdiction does not become unenforceable merely because the amounts have been awarded under ‘certain heads’ which are not permissible in Indian law, particularly where the contract between the parties is governed by foreign law, and the foreign court has adjudicated the case on that basis.

An appeal against this judgment is pending before the Division Bench of the Delhi HC.[2]

[1] [1]Peter Beck und Partner Vermögensverwaltung GmbH v. Prakash Industries Limited, 2026 SCC OnLine Del 689.

[2] Prakash Industries Ltd. v. Peter Beck und Partner Vermögensverwaltung GmbH, EFA (OS) 1/2026.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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