File Name: indian arbitration and conciliation act 1996 .zip
- India: Additional Pre-Requisites for Interim Relief Under Section 9 of the A&C Act
- The 1996 Arbitration and Conciliation Act with Amendments of 2015
- THE ARBITRATION AND CONCILIATION (AMENDMENT) ACT, 2015 – A MAGIC WAND FOR ARBITRATION IN INDIA?
Chapter 2: Domestic Arbitration Preliminary Section 1. Short title, extent andcommencement Part- II Section 2. Definitions Section 3. Receipt of written communications Section 4. Waiver of right to object.
India: Additional Pre-Requisites for Interim Relief Under Section 9 of the A&C Act
In a recent ruling in Avantha Holdings Limited v. The judgment sets out the additional criteria to be satisfied in addition to the general principles for interim injunctions in its bid to distinguish, and defer to, the jurisdiction of arbitral tribunals in appropriate cases seeking interim reliefs. The debentures were redeemable on July 6, To secure the debenture, the Petitioner pledged i 13,53,92, equity shares held by it in Crompton Greaves Power and Industrial Solutions Ltd. A Memoranda of Pledge was executed on January 5, and June Of i , KKR purchased 6,71,87, shares between July and September sold in the open market. Under the Debenture Trust Deed, the Petitioner was required to maintain a security cover.
The 1996 Arbitration and Conciliation Act with Amendments of 2015
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India is often seen as the black sheep of international arbitration. Prior to , Indian courts were severely criticized for their unwelcome intervention in foreign-seated arbitrations and lengthy, expensive ad hoc arbitration proceedings were seen as stumbling blocks to a pro-arbitration environment. Moreover, the Arbitration and Conciliation Act, did little to address these issues. In an attempt to make India an arbitration friendly jurisdiction, India brought in the New Year with a new arbitration law- the Arbitration and Conciliation Amendment Act, , which took effect on 1 January However, whether the new law will give arbitration in India the facelift it needs remains to be seen. Download the PDF. The following are the main reforms introduced by the New Act, in a nutshell:.
THE ARBITRATION AND CONCILIATION (AMENDMENT) ACT, 2015 – A MAGIC WAND FOR ARBITRATION IN INDIA?
In an attempt to make arbitration a preferred mode of settlement of commercial disputes and making India a hub of international commercial arbitration, the President of India on 23 October promulgated an Ordinance Arbitration and Conciliation Amendment Ordinance, amending the Arbitration and Conciliation Act, From Wikipedia, the free encyclopedia. This article needs additional citations for verification.
Gopal Subramanium 3 Verulam Buildings, London gs 3vb. Confidentiality has often been highlighted as one of the key advantages of alternate dispute resolution mechanisms over adjudication by courts. The amendments, effective from 9 August Amendment , introduce an express provision extending the concept of confidentiality to arbitration proceedings, This was hitherto applicable only to conciliation proceedings under section 75 of the ACA.
Arbitration and Conciliation is a mode of alternative dispute resolution method. It is very effective and popular method that helps in easy delivery of justice. The person who resolves the dispute between the parties is known as an arbitrator or conciliator whatever the case may be. This article is an analysis of all the amendments made by the Government of India in the Arbitration and Conciliation Act, till now, and how the Arbitration and Conciliation Act, have evolved since the British era.
Interim measures of protection from a court that was sought to be made available under the Model Arbitration Law, 1 which India has adopted, may not be available for an arbitration that has its seat outside India. The Indian Act is divided into four parts. Section 9 of the Act, 4 which is in Part I, provides for interim measures by the court.