Search Results for: Arbitration and Conciliation Act

ARBITRATION AGREEMENTS IN UNSTAMPED CONTRACTS

Section 7 of the Arbitration and Conciliation Act, 1996 defines an arbitration agreement as “an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.

Arbitrator- appointment and their multiple aspects

As per the black law dictionary, the arbitrator is a “private, disinterested person, chosen by the parties to a disputed question, for the purpose of hearing their contention, and giving judgment between them; to whose decision(award) the litigants submit themselves either voluntarily, or, in some cases, compulsorily, by order of a court”.

STAGES OF ARBITRATION IN INDIA

Arbitration is a dispute resolution process outside the traditional court system, gaining prominence in India due to its efficiency and flexibility. The Act governing the arbitration proceedings in India namely “The Arbitration and Conciliation Act, 1996”.

Pending suit referred to arbitration

A pending suit can be sent for arbitration under Section 8 of the Arbitration and Conciliation Act, 1996. This section states that a party to a case may, at any time after the commencement of the suit, apply to the court for an order referring the dispute to arbitration.

Understanding the interpretation of the Insolvency and Bankruptcy Code, 2016

Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.

Mechanism to protect Micro and Small Enterprises from delayed payment

Recover the money against the supply made along with interest notified by the Reserve Bank of India (RBI) if any company make the payment after 45 day of acceptance of goods and service from any MSME’s vendor.

‘Arbitration Clause’ – Its invocation and process

The process is not too tedious and is generally accepted by the court, thus, helping the parties to resolve disputes in a time bound manner.

Arbitration Award- Its Validity and Enforceability 

Individuals and corporates have begun to opt for ‘Arbitration’ as the chosen mode for resolution of their disputes to avoid court delays and other legal hassles of court.

Arbitration over Litigation an advantage

The choice between ‘arbitration’ and ‘litigation’ is not one that can be made in a vacuum. Arbitration can and should be a flexible and efficient procedure for adjudicating disputes.

Enforcement of Arbitration Award via Insolvency Proceedings: A Contrary Perspective

The enforcement proceedings for the foreign award (under S. 47-48) are the last and final stage where the debtor can resist the award from becoming binding/ enforceable for grounds listed under Section 48 of the Arbitration Act.

Is judicial intervention in arbitration justified?

The court’s intervention can be justified by saying that it protects the rights of the parties or it puts eyes on the arbitration proceedings to prevent any injustice.

ARBITRATION: AN OVERVIEW

In arbitration, whenever a civil dispute arises between two or more parties it is referred to the sole arbitrator or tribunal or three or more arbitrators, which always will be in odd numbers.

The Credit Information Companies and ‘Credit Score’

A credit history is considered as a record of a borrower’s repayment of debts. Being a record of the borrower’s credit history from numerous sources, including banks, credit card companies, collection agencies, and governments.