Bare Act Search Results

Arbitration and Conciliation Act, 1996 Chapter 6

Title: Making of Arbitral Award and Termination of Proceedings

State: Central

Year: 1996

.....tribunal shall decide in accordance with the terms of the contract and shall take into account the usages of the trade applicable to the transaction. Section 29 - Decision making by panel of arbitrators (1) Unless otherwise agreed by the parties, in arbitral proceedings with more than one arbitrator, any decision of the arbitral tribunal shall be made by a majority of all its members. (2) Notwithstanding sub -section (1), if authorised by the parties or all the members of the arbitral tribunal, questions of procedure may be decided by the presiding arbitrator. Section 30 - Settlement (1) It is not incompatible with an arbitration agreement for an arbitral tribunal to encourage settlement of the dispute and, with the agreement of the parties, the arbitral tribunal may use mediation, conciliation or other procedures at any time during the arbitral proceedings to encourage settlement. (2) If, during arbitral proceedings, the parties settle the dispute, the arbitral tribunal shall terminate the proceedings and, if requested by the parties and not objected to by the arbitral tribunal, record the settlement in the form of an arbitral award on agreed terms. (3).....

Arbitration and Conciliation Act, 1996 Section 31

Title: Form and Contents of Arbitral Award

State: Central

Year: 1996

.....it is based, unless------ (a) the parties have agreed that no reasons are to be given,or (b) the award is an arbitral award on agreed terms undersection 30. (4) The arbitral award shall state its date and the placeof arbitration as determined in accordance with section 20 and the award shallbe deemed to have been made at that place. (5) After the arbitral award is made, a signed copy shallbe delivered to each party. (6) The arbitral tribunal may, at any time during thearbitral proceedings, make an interim arbitral award on any matter with respectto which it may make a final arbitral award. (7) (a) Unless otherwise agreed by the parties, where andin so far as an arbitral award is for the payment of money, the arbitraltribunal may include in the sum for which the award is made interest, at suchrate as it deems reasonable, on the whole or any part of the money, for thewhole or any part of the period between the date on which the cause of actionarose and the date on which the award is made. (b) A sum directed to be paid by an arbitral award shall,unless the award otherwise directs, carry interest at the rate of eighteen percentum per annum from the date of the award to.....

Arbitration and Conciliation Act, 1996 Chapter 7

Title: Recourse Against Arbitral Award

State: Central

Year: 1996

.....that an award is in conflict with the public policy of India if the making of the award was induced of affected by fraud or corruption or was in violation of section 75 or section 81. (3) An application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the arbitral award, or, if a request had been made under section 33, from the date on which that request had been disposed of by the arbitral tribunal: Provided that if the Court is satisfied that the applicant was prevented by sufficient cause from making the application within the said period of three months if may entertain the application within a further period of thirty days, but not thereafter. (4) On receipt of an application under sub-section (1), the Court may, where it is appropriate and it is so requested by a party, adjourn the proceedings for a period of time determined by it in order to give the arbitral tribunal an opportunity to resume the arbitral proceedings or to take such other action as in the opinion of arbitral tribunal will eliminate the grounds for setting aside the arbitral award.

Arbitration and Conciliation Act, 1996 Section 34

Title: Application for Setting Aside Arbitral Award

State: Central

Year: 1996

.....that an award is in conflict with the public policy of India if the making of the award was induced of affected by fraud or corruption or was in violation of section 75 or section 81. (3) An application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the arbitral award, or, if a request had been made under section 33, from the date on which that request had been disposed of by the arbitral tribunal: Provided that if the Court is satisfied that the applicant was prevented by sufficient cause from making the application within the said period of three months if may entertain the application within a further period of thirty days, but not thereafter. (4) On receipt of an application under sub-section (1), the Court may, where it is appropriate and it is so requested by a party, adjourn the proceedings for a period of time determined by it in order to give the arbitral tribunal an opportunity to resume the arbitral proceedings or to take such other action as in the opinion of arbitral tribunal will eliminate the grounds for setting aside the arbitral award.

Arbitration and Conciliation Act, 1996 Section 39

Title: Lien on Arbitral Award and Deposits as to Costs

State: Central

Year: 1996

.....for any unpaid costs of the arbitration. (2) If in any case an arbitral tribunal refuses to deliver its award except on payment of the costs demanded by it, the Court may, on an application in this behalf, order that the arbitral tribunal shall deliver the arbitral award to the applicant on payment into Court by the applicant of the costs demanded, and shall, after such inquiry, in any, as it thinks, fit, further order that out of the money so paid into Court there shall be paid to the arbitral tribunal by way of costs such sum as the Court may consider reasonable and that the balance of the money, if any, shall be refunded to the applicant. (3) An application under sub-section (2) may be made by any party unless the fees demanded have been fixed by written agreement between him and the arbitral tribunal, and the arbitral tribunal shall be entitled to appear and be heard on any such application. (4) The Court may make such orders as it thinks fit respecting the costs of the arbitration where any question arises respecting such costs and the arbitral award contains no sufficient provision concerning them.

Arbitration and Conciliation Act, 1996 Chapter 8

Title: Finality and Enforcement of Arbitral Awards

State: Central

Year: 1996

Subject to this Part an arbitral award shall be final and binding on the parties and persons claiming under them respectively. Section 36 - Enforcement Where the time for making an application to set aside the arbitral award under award under section 34 has expired, or such application having been made, it has been refused, the award shall be enforced under the Code of Civil Procedure, 1908 (5 of 1908) in the same manner as if it were a decree of the Court.

Arbitration and Conciliation Act, 1996 Section 35

Title: Finality of Arbitral Awards

State: Central

Year: 1996

Subject to this Part an arbitral award shall be final and binding on the parties and persons claiming under them respectively.

Foreign Awards (Recognition and Enforcement) Act, 1961 Complete Act

State: Central

Year: 1961

.....and the Geneva Convention of 1927 to which India was a party and which were given effect to in India by the Arbitration (Protocol and Convention) Act, 1937. This Act was, therefore enacted to adopt the then prevailing practices of arbitration in India to the regulations of the Geneva Protocol on Arbitration Clauses of 1923 and Geneva Convention on the Execution of Foreign Arbitral Awards of 1927. 2. It was, however, felt that the Geneva Convention hampered the speedy settlement of disputes through arbitration and hence no longer met the requirements of the international trade due to the following principal defects :--- (a) it placed an undue emphasis on the law of the land, the selection of arbitrators, the procedure to be followed by these tribunals, etc., and (b) it laid too much emphasis on the remedies that were open to parties to invoke the law of the country for the purposes of setting aside the awards. Therefore, in order to remedy, inter alia, the above-mentioned defects, a draft Convention was prepared by the International Chambers of Commerce, which was considered by the United Nations Economic and Social Council in consultation with the Governments of various.....

Arbitration and Conciliation Act, 1996 Chapter

Title: Geneva Convention Awards

State: Central

Year: 1996

.....that the award has become final; and (c) such evidence as may be necessary to prove that the conditions mentioned in clauses (a) and (c) of sub-section (1) of section 57 are satisfied. (2) Where any document requiring to be produced under sub-section (1) is in a foreign language, the party seeking to enforce the award shall produce a translation into English certified as correct by a diplomatic or consular agent of the country to which that party belongs or certified as correct in such other manner as may be sufficient according to the law in force in India. Explanation.---In this section and all the following sections of this Chapter, "Court" means the principal Civil Court of original jurisdiction in a district, and includes the High Court in exercise of its ordinary original civil jurisdiction, having jurisdiction over the subject-matter of the award if the same had been the subject matter of a suit, but does not include any civil court of a grade inferior to such principal Civil Court, or any Court of Small Causes. Section 57 - Conditions for enforcement of foreign awards (1) In order that a foreign award may be enforceable under this Chapter, it shall be.....

Arbitration and Conciliation Act, 1996 Section 33

Title: Correction and Interpretation of Award; Additional Award

State: Central

Year: 1996

.....thirty days from the receipt of the arbitral award, the arbitral tribunal to make an additional arbitral award as so claims presented in the arbitral proceedings but omitted from the arbitral award. (5) If the arbitral tribunal considers the request made under sub-section (4) to be justified, it shall make the additional arbitral award within sixty days from the receipt of such request. (6) The arbitral tribunal may extend, if necessary, the period of time within which it shall make a correction, give an interpretation or make an additional arbitral award under sub-section (2) or sub-section (5). (7) Section 31 shall apply to a correction or interpretation of the arbitral award or to an additional arbitral award made under this section.