Nature and scope of arbitration and conciliation act 1996
- All about Arbitration and Conciliation Act, 1996 By: Abhipsha Mohanty
- Definition of arbitration under the Arbitration and Conciliation Act, 1996
- NATURE AND SCOPE OF ARBITRATION IN INDIA
All about Arbitration and Conciliation Act, 1996 By: Abhipsha Mohanty
DIFFERENCE BETWEEN ARBITRATION AND CONCILIATION ACT, 1996 Part 2 Full Lectures in HINDIand
In arbitration the disputing parties to settle their dispute through the process of court by the third person who is a person chosen by concerning parties. General perception is that litigation is costly, time consuming and full of complication. Thus the arbitration is a term of Alternate Dispute Resolution where by two litigating Parties desire their dispute to be settled outside the court. It hardly need to be emphasized that arbitration is an alternate to regular courts, is known to the world in general in India in particular form ancient period the ADR system is now accepted by the society and the state. An arbitrator mat not be an independent at all as he may be related to either or both disputing parties; he may have no training or experience of Judge and may not have decided any dispute earlier. In certain categories of disputes specially family disputes party may not like to litigate in court of law and would feel at ease before a person who is known to them and in whom they have faith and legalistic approach is not required. The right litigant coming to the court of law is describe in a century old Baconian example of a sheep which ran for shelter to a bush to save itself from rain and hail, and has found itself deprived of its fleece when as a litigant dread law suit beyond almost anything else; short of sickness and death.
Legal Blog on the Social Networks Sunday, February 20, Scope and Nature of S. Bangkok versus Gabriel India Limited has examined the nature and scope of enquiry under S. While referring to a large number of judgments on the aspect, the Supreme Court held as under;. There is a long line of decisions of this Court in which this Court has examined the nature and the scope of the enquiry and the jurisdiction of the Chief Justice or his designate while dealing with petitions under Section 11 of the Arbitration and Conciliation Act,
Once human beings started to live and trade together as a community, various forms of adjudications begin to emerge. Why the concept of Arbitration emerged as an alternative dispute resolution? For answering this question one has to look back at the history of arbitration. An arbitration award is an award granted by the arbitrator in the proceeding before it. This award can be a money award and it can also be a non-financial award.
She is currently interning with LatestLaws. The concept of ADR lies in resolving the disputes outside the standard court procedures and encourages the communicative capacity of the disputants. The Arbitration and Conciliation Act, is an act regulating the domestic arbitration in India. To make Arbitration more effective and a preferred mode for settlement of commercial disputes and making India a centre for International Commercial Arbitration. Ans: The act is of consolidating and amending in nature and not exhaustive.
Definition of arbitration under the Arbitration and Conciliation Act, 1996
In ancient India, Hindus recognized decisions of the Panchayats and entrusted them with power of management of their religion and social functions. However, when power came to be vested in the East India Company, regulations touching arbitration were framed by the Company. It is a reference to the decision of one or more persons in respect of a particular matter.
NATURE AND SCOPE OF ARBITRATION IN INDIA
In an attempt to make arbitration a preferred mode of settlement of commercial disputes and making India a hub of international commercial arbitration, the President of India on 23 October promulgated an Ordinance Arbitration and Conciliation Amendment Ordinance, amending the Arbitration and Conciliation Act, From Wikipedia, the free encyclopedia. The Union Cabinet chaired by the Prime Minister, had given its approval for amendments to the Arbitration and Conciliation Bill, Amendment [ edit ] The following are the salient features of the new ordinance, introduced in The first and foremost amendment introduced by the ordinance, is with respect to definition of expression ' Court '. The amended law makes a clear distinction between an international commercial arbitration and domestic arbitration with regard to the definition of 'Court'. In so far as domestic arbitration is concerned, the definition of "Court" is the same as was in the Act, however, for the purpose of international commercial arbitration, 'Court' has been defined to mean only High Court of competent jurisdiction. Accordingly, in an international commercial arbitration, as per the new law, district court will have no jurisdiction and the parties can expect speedier and efficacious determination of any issue directly by the High court which is better equipped in terms of handling commercial disputes. Through the amendment, a proviso to Section 2 2 has been added which envisages that subject to the agreement to the contrary, Section 9 interim measures , Section 27 taking of evidence , and Section 37 1 a , 37 3 shall also apply to international commercial arbitration, even if the seat of arbitration is outside India, meaning thereby that the new law has tried to strike a kind of balance between the situations created by the judgments of Bhatia International and Balco v.