Bare Act Search Results

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 Part 1

Title: Arbitration

State: Central

Year: 1996

.....and as if that other enactment were an arbitration agreement, except in so far as the provision of this Part are inconsistent with that other enactment or with any rules made thereunder; (5) Subject to the provisions of sub-section (4), and save in so far as is otherwise provided by any law for the time being in force or in any agreement in force between India and any other country or countries, this Part shall apply to all arbitrations and to all proceedings relating thereto. (6) Where this Part, except section 28, leaves the parties free to determine a certain issue, that freedom shall include the right of the parties to authorise any person including an institution, to determine that issue. (7) An arbitral award made under this Part shall be considered domestic award. (8) Where this Part. (a) refers to the fact that the parties have agreed or that they may agree, or (b) in any other way refers to an agreement of the parties, that agreement shall include any arbitration rules referred to in that agreement. (9) Where this Part, other than clause (a) of section 25 or clause (a) of sub-section (2) of section 32, refers to a claim, it shall also apply to a.....

Arbitration and Conciliation Act, 1996 Complete Act

State: Central

Year: 1996

ARBITRATION AND CONCILIATION ACT, 1996 ARBITRATION AND CONCILIATION ACT, 1996 [Act No. 26 of Year 1996, dated 16th. August, 1996] An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral award as also to define the law relating to conciliation and for matters connected therewith or incidental thereto. PREAMBLE WHEREAS the United Nations Commission on International Trade law (UNCITRAL) has adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985; AND WHEREAS the General Assembly of the United Nations has recommended that all countries give due consideration to the said Model Law, in view of the desirability of uniformity of the law of arbitral procedures and the specific needs of international commercial arbitration practice; AND WHEREAS the UNCITRAL has adopted the UNCITRAL Conciliation Rules in 1980; AND WHEREAS the General Assembly of the United Nations has recommended the use of the said Rules in cases where a dispute arises in the context of international commercial relations and the parties seek on amicable settlement of that dispute by recourse to.....

Arbitration and Conciliation Act, 1996 Chapter 10

Title: Miscellaneous

State: Central

Year: 1996

..... (1) The Limitation Act, 1963 (36 of 1963), shall, apply to arbitrations as it applies to proceedings in court. (2) For the purposes of this section and the Limitation Act, 1963 (36 of 1963), an arbitration shall be deemed to have commenced on the date referred in section 21. (3) Where an arbitration agreement to submit further disputes to arbitration provides that any claim to which the agreement applies shall be barred unless some step to commence arbitral proceedings is taken within a time fixed by the agreement, and a dispute arises to which the agreement applies the Court, if it is of opinion that in the circumstances of the case undue hardship would otherwise be caused, and notwithstanding that the time so fixed has expired, may on such terms, if any, as the justice of the case may require, extend the time for such period as it thinks proper. (4) Where the Court orders that an arbitral award be set aside, the period between the commencement of the arbitration and the date of the order of the Court shall be excluded in computing the time prescribed by the Limitation Act, 1963 (36 of 1963), for the commencement of the proceedings (including arbitration) with.....

Arbitration and Conciliation Act, 1996 Complete Act

Title: Arbitration and Conciliation Act, 1996

State: Central

Year: 1996

..... Section11 - Appointment of arbitrators Section12 - Grounds for challenge Section13 - Challenge procedure Section14 - Failure or impossibility to act Section15 - Termination of mandate and substitution of arbitrator Chapter 4 Section16 - Competence of arbitral tribunal to rule on its jurisdiction Section17 - Interim measures ordered by arbitral tribunal Chapter 5 Section18 - Equal treatment of parties Section19 - Determination of rules of procedure Section20 - Place of arbitration Section21 - Commencement of arbitral proceedings Section22 - Language Section23 - Statements of claim and defence Section24 - Hearings and written proceedings Section25 - Default of a party Section26 - Expert appointed by arbitral tribunal Section27 - Court assistance in taking evidence Chapter 6 Section28 - Rules applicable to substance of dispute Section29 - Decision making by panel of arbitrators Section30 - Settlement Section31 - Form and contents of arbitral award Section32 - Termination of proceedings Section33 - Correction and interpretation of award; additional award Chapter 7 Section34 - Application for setting aside arbitral award Chapter 8 Section35 - Finality of.....

Depositories Act, 1996 (22 of 1996) Section 23A

Title: Appeal to Securities Appellate Tribunal

State: Central

Year: 1996

.....in sub-section (2), any person aggrieved by an order of the Board made, on and after the commencement of the Securities Laws (Second Amendment) Act, 1999, under this Act, or the regulations made thereunder2[or by an order made by an adjudicating officer under this Act], may prefer an appeal to a Securities Appellate Tribunal having jurisdiction in the matter. (2) No appeal shall lie to the Securities Appellate Tribunal from an order made by the Board with the consent of the parties. (3) Every appeal under sub-section (1) shall be filed within a period of forty-five days from the date on which a copy of the order made by the Board is received by the person referred to in sub-section (1) and it shall be in such form and he accompanied by such fee as may be prescribed: Provided that the Securities Appellate Tribunal may entertain an appeal after the expiry of the said period of forty-five days if it is satisfied that there was sufficient cause for not filing it within that period. (4) On receipt of an appeal under sub-section (1), the Securities Appellate Tribunal may, after giving the parties to the appeal an opportunity of being heard, pass such orders thereon as it.....

Depositories Act, 1996 (22 of 1996) Section 8

Title: Options to Receive Security Certificate or Hold Securities with Depository

State: Central

Year: 1996

(1) Every person subscribing to securities offered by an issuer shall have the option either to receive the security certificates or hold securities with a depository. (2) Where a person opts to hold a security with a depository, the issuer shall intimate such depository the details of allotment of the security, and on receipt of such information the depository shall enter in its records the name of the allottee as the beneficial owner of that security.

Depositories Act, 1996 (22 of 1996) Section 19D

Title: Penalty for Delay in Dematerialisation or Issue of Certificate of Securities

State: Central

Year: 1996

1 [Section 19D - Penalty for delay in dematerialisation or issue of certificate of Securities If any issuer or its agent or any person, who is registered as an intermediary under the provisions of Section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), fails to dematerialise or issue the certificate of securities on opting out of a depository by the investors, within the time specified under this Act or regulations or bye-laws made thereunder or abets in delaying the process of dematerialisation or issue the certificate of securities on opting out of a depository of securities, such issuer or its agent or intermediary shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less. _____________________________ 1. Inserted vide The Securities Laws (Amendment) Act, 2004

Depositories Act, 1996 (22 of 1996) Section 23B

Title: Procedure and Powers of Securities Appellatetribunal

State: Central

Year: 1996

.....the Code of Civil Procedure, 1908 (5 of 1908) but shall be guided by the principles of natural justice and, subject to the other provisions of this Act and of any rules, the Securities Appellate Tribunal shall have powers to regulate their own procedure including the places at which they have their sittings. (2) The Securities Appellate Tribunal shall have, for the purpose of discharging their functions under this Act, the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 (5 of 1908), while trying a suit, in respect of the following matters, namely:-- (a) summoning and enforcing the attendance of any person and examining him on oath; (b) requiring the discovery and production of documents; (c) receiving evidence on affidavits; (d) issuing commissions for the examination of witnesses or documents; (e) reviewing its decisions; (f) dismissing an application for default or deciding it ex parte; (g) setting aside any order of dismissal of any application for default or any order passed by it ex parte; and (h) any other matter which may be prescribed. (3) Every proceeding before the Securities Appellate Tribunal shall be deemed to.....

Depositories Act, 1996 (22 of 1996) Section 6

Title: Surrender of Certificate of Security

State: Central

Year: 1996

(1) Any person who has entered into an agreement under section 5 shall surrender the certificate of security, for which he seeks to avail the services of a depository, to the issuer in such manner as may be specified by the regulations. (2) The issuer, on receipt of certificate of security under sub-section (1), shall cancel the certificate of security and substitute in its records the name of the depository as a registered owner in respect of that security and inform the depository accordingly. (3) A depository shall, on receipt of information under sub-section (2), enter the name of the person referred to in sub-section (1) in its records, as the beneficial owner.