A summary procedure. In a recent judgment, the Supreme Court has held that the proceeding under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘Act’) are summary proceedings and the parties can only exceptionally be allowed to adduce additional evidence to prove their grounds of challenge. Facts of the case:  The appellant, a financial institution, advanced a loan of Rs. 50,00,000/- to respondent no.1 and respondent nos. 2, 4 and
Arbitration is a form of alternative dispute resolution (ADR) which allows disagreements between two parties to be resolved outside the traditional court system (avoid resolving their dispute in the public litigation). Arbitration is only an alternative to litigation and it does not replace the judicial machinery in all aspects, rather it co-exists with it. It is used mainly in solving disputes arising out of commercial matters. Arbitral tribunals usually consist of either one or three
Posted on 04th September 2019 2:01PM by PIB Delhi 1. The Arbitration and Conciliation (Amendment) Act, 2019 was notified on 9th August, 2019. Sub-Section 2 of Section 1 of the Arbitration and Conciliation (Amendment) Act, 2019 provides as under:- “(2) Save as otherwise provided in this Act, it shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different
INTRODUCTION Arbitration as a dispute resolution mechanism has evolved through time ever since its inception in 1940. The current legislation, the Arbitration, and Conciliation Act, 1996, too purports to make arbitration an effective and meaningful dispute resolution mechanism. The nature of arbitration proceedings is such as to provide for alternative dispute redressal system wherein parties to the dispute consent to resolution through a tailored procedure that suits the parties. The ultimate fruit of the tree

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