Unless the parties otherwise agree, the amendments made to this Act by the Arbitration and Conciliation (Amendment) Act, 2015 shall—
(a) not apply to—
(i) arbitral proceedings commenced, in accordance with the provisions of section 21 of the principal Act, before the commencement of the Arbitration and Conciliation (Amendment) Act, 2015;
(ii) court proceedings arising out of or in relation to such arbitral proceedings irrespective of whether such court proceedings are commenced prior to or after the commencement of the Arbitration and Conciliation (Amendment) Act, 2015;
(b) apply only to Arbitral proceedings commenced on or after the commencement of the Arbitration and Conciliation (Amendment) Act, 2015 and to court proceedings arising out of or in relation to such arbitral proceedings.
Legal Commentary & Landmark Judgments: Section 87
Section 87 of the Arbitration and Conciliation Act, 1996 was inserted by the 2019 Amendment Act to govern the applicability of the 2015 Amendments, but was struck down as unconstitutional and manifestly arbitrary by the Supreme Court in Hindustan Construction Company (2020), restoring the prospective applicability rule laid down in BCCI v. Kochi Cricket.
Never accept an argument that an arbitral award is automatically stayed under Section 36 because the arbitration commenced before 2015; cite HCC v. UOI to demonstrate that Section 87 was struck down, and move for immediate execution under amended Section 36 unless the court grants a specific reasoned stay.