Arbitration In India: An Introduction

Mondaq Business BriefingIndia Law Articles in EnglishLitigation and Arbitration (2009)

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Arbitration In India: An Introduction

Background to arbitration

legislation:

The Indian law of arbitration is contained in the

Arbitration and Conciliation Act 1996 (Act).1

The Act is based on the 1985 UNICITRAL Model Law on International

Commercial Arbitration and the UNCITRAL Arbitration Rules 1976. The

Statement of Objects and Reasons of the Act recognises that

India's economic reforms will become effective only if the

nation's dispute resolution provisions are in tune with

international regime. The Statement of Objects and Reasons set

forth the main objectives of the Act as follows:

"

to comprehensively cover international and commercial

arbitration and conciliation as also domestic arbitration and

conciliation;

to make provision for an arbitral procedure which is fair,

efficient and capable of meeting the needs of the specific

arbitration;

to provide that the arbitral tribunal gives reasons for its

arbitral award;

to ensure that the arbitral tribunal remains within the limits

of its jurisdiction;

to minimise the supervisory role of courts in the arbitral

process;

to permit an arbitral tribunal to use mediation, conciliation

or other procedures during the arbitral proceedings to encourage

settlement of disputes;

to provide that every final arbitral award is enforced in the

same manner as if it were a decree of the court;

to provide that a settlement agreement reached by the parties

as a result of conciliation proceedings will have the same status

and effect as an arbitral award on agreed terms on the substan...

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