BORN IN INDIA I SERVED FROM INDIA I TO THE GLOBE
Dated: 09.03.23
ARBITRATION LAW- THE INDIAN CONTEXT
The United Nations Commission on International Trade Law (UNCITRAL) has adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985. The UNCITRAL had adopted the UNCITRAL Conciliation Rules in 1980.
Section 1 (1)- In India this Act may be called “The Arbitration and Conciliation Act, 1996”.
Section 1 (2)- It extends to the whole of India:
Provided that Parts I, III and IV shall extend to the State of Jammu and Kashmir only in so far as they relate to international commercial arbitration or, as the case may be, international commercial conciliation.
Explanation: In this sub-section, the expression “international commercial conciliation” shall have the same meaning as the expression “international commercial arbitration” in clause (f) of sub-section (1) of section 2, subject to the modification that for the word “arbitration” occurring therein, the word “conciliation” shall be substituted.
Arrangement of applicable important & relevant sections:
Section-2: Sub-sections (1) Definitions (2) Defines Place of Arbitration as India
Section-7: Arbitration agreement
Section-11: Appointment of arbitrators
Section-17: Interim measures ordered by arbitral tribunal
Section-20: Place of Arbitration
Section-29A: Time limit for arbitral award
Section-29B: Fast track procedure
Section-30: Settlement
Section-36: Enforcement
Section-37: Appealable orders
Section-41: Provisions in case of insolvency
Section-42: Jurisdiction
Section-43: Limitations
ENFORCEMENT OF CERTAIN FOREIGN AWARDS
New York Convention Awards
Section-44: Definition
Section-46: When foreign award binding
Section-47: Evidence
Section-48: Conditions for enforcement of foreign awards
Section-49: Enforcement of foreign awards
Section-50: Appealable orders
Geneva Convention Awards
Section-53: Interpretation
Section-55: Foreign awards when binding
Section-56: Evidence
Section-57: Conditions for enforcement of foreign awards
Section-58: Enforcement of foreign awards
Section-59: Appealable orders
SUPPLEMENTARY PROVISIONS
Section-82: Power of High Court to make rules
Section-83: Removal of difficulties
Source: Legislative Department, Govt of India
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Disclaimer:
The views expressed in the update are strictly personal, based on our understanding of the underlying law. We are not responsible for any injury, loss or cost arising to any person who refers this update and acts or refrains from any act accordingly. We would suggest that a detailed legal advice must be sought before relying on this update.
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