Arbitration and conciliation amendment bill 2015 (amendment) was introduced in house of people/ legislative assembly/ lok Sabha on December 3, 2015. This Bill amends the Arbitration and conciliation Act, 1996.
The Act specifies for the relevant court or all arbitration matters would be a principal limit court or high court with original jurisdiction.
In case of international arbitration, the relevant court would be only relevant light court.
The interim orders by a court, order of arbitral tribunal, appealable orders etc. only applied to the matters where the place of arbitration was India. Under this bill these provision would apply to international commercial arbitration is outside India. These would apply unless the parties agreed otherwise.
If any matter that is brought before a court is the subject of an arbitration agreement, parties will refer to arbitration.
Power of referral to be exercised by a court even if there is a previous court judgment to the contrary, the court must refer parties to arbitration unless it thinks that a valid arbitration agreement does not exist.
Court interim order: act states that a party to arbitration may apply to a court for interim relief before the arbitration is complete.
The bill amends this provision to specify that if the court passes such are interim order before the commencemerlt of arbitral proceedings, the proceedings must commence within 90 days from the making of the order, or within the time specified by the court. Further the court must not accept such application, unless it theirles that the arbitral tribunal will not be able to provide a similar remedy.
Act permit the court to act aside an arbitral award if it is in conflict with the public policy of India. Thus includes awards affect by (i) Fraud or corruption (ii) those in violations of morality of oo justice, in addition to the grounds already specified in the Act.
Act permit parties to apolit arbitrators. If they are unable to appoint arbitrator with 30days, the matter is referred to the loud to male such appointments.
Bill states that at this stage the court must confine itself to the examination of the existence of a valid arbitration agreement.
Bill introduces a provision that requires are arbitral tribunal to make the award in 12 months. This may be extended by six month period. If an award is made within six months, the arbitral tribunal will receive additional frees. If it is delayed beyond specified time because of the arbitral tribunal, the fee of the arbitrator will be reduced up to 5% for each month delay.
The bill states that any challenge to an arbitral award that is before court, must be disposed of within a period of one year.
Bill permits parties to choose to conduct arbitration proceedings in fast tract manner. The award will be granted with six months.
Recently 11 appointments made by the State Governor to the Tamil Nadu Public Service Commission were set aside by the Madras High Court and the Supreme Court (SC)....
Central Pollution Control Board (CPCB) has issued draft guidelines proposing to maintain buffer zones around landfills to minimize/prevent the impact of landfill waste disposal....
A new law proposing CBI independence in matter of selection of CBI cadre officials has been released by Supreme Court to emancipate CBI from reticulated government interventions....
Recently following Uttar Pradesh state election a newspaper and surveying agency had published the exit poll results which became hot debate as it is being criticized to have potential of being politically manipulated....
Having a good conclusion is important for any academic paper. However, when it comes to dissertation writing, the conclusion is of utmost significance for two simple reasons. First of all, it summarizes everything you have written in your dissertation and draws all your main points together. Second...
Our Vice President honorable Hamid Ansari paid official visit to Rwanda and Uganda, in an amicable gesture to strengthen ties with the East African countries and signed pacts concerning cooperation and all round development....
Let's be frank: there are not perfectly organized apartments able to always look as new, and most of us face daily problems with storing thins and a bad layout, for example, lost keys, tangled wires, or walls that need urgent repairs. We have put together a list of 16 life hacks, which will help...
First of its kind,Supreme Court has initiated contempt proceedings against Justice C S Karnan sitting judge of Calcutta High Court for disobedience....
Pradhan Mantri Awas Yojana is a scheme launched in 2015 with a target of building almost 2 crore houses and providing affordable housing to LIG and EWS population in urban area by 2022.It offers a lot of benefits and lower rates making it more lucrative....
Year 2015-2016 has recorded highest compliance rate of 94 percent by the public authorities, of providing all the details regarding the implementation of Right To Information....
Yes, Boys can also apply
Question bank required
This job will be great aportunity for graduate lable
No one will reply for new cutoff. All predictors are in dialema abt the decision of bpsc.
Sir boys cdpo apply kar sakta hai
I have seen your last bpsc pre prediction which was 100%accurate,so i want to know that what would be the cut off this time when bpsc is going to select only 6420 candidates for mains?
Plz tell me which book is good for preparation and date
Whdo Will I do my intermediate level exam bank chalan receipt will stolen. I am so confused after prelims examination what is the role of this chaln in mains exam
My son is -21/07/1987 my exam center is in ranchi.l had lost my admit card.can u please provide me my roll no.so that l can check the result.
I want to know that when the bpscexam will held likewise 60 62 exam