Arbitration and Conciliation A Commentary

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Description
Alternative dispute resolution has gained immense importance in the recent past for resolution of disputes which otherwise would have followed the traditional course of court-based justice delivery system. For a country like India, the courts are already inundated with a rising number of pending cases. Such an overwhelming state of affairs has given credence to alternative modes of dispute resolution, which includes arbitration, mediation and conciliation. The major advantages of such a mechanism are that it is less time-consuming and is not dependent upon the functioning of the courts. That means that the process of alternative dispute resolution is informal which eventually leads to formal results. Majorly all commercial organisations have looked to introduce alternative dispute resolution as a part of their contractual negotiations. Arbitration has, in this sense, attained a seminal position of being the most sought after alternative dispute resolution mechanism. India in 1996 brought the Arbitration and Conciliation Act, 1996 which provided for law relating to conducting of arbitral proceedings and court proceedings arising therefrom in India. The 1996 Act repealed the earlier Arbitration Act, 1940, which was considered to be less adaptive. Subsequently, in order to make India more arbitration centric, the 1996 Act was amended in the year 2015. The 2015 Amendment Act inserted emphasis on the limited intervention of courts in the arbitral proceedings. In order to make arbitration more lucrative, the 2015 Amendment Act further brought a timeline so that the disputes can be resolved within time.
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Table of Contents
PART I : ARBITRATION
1. General Provisions
2. Arbitration Agreement
3. Composition of Arbitral Tribunal 
4. Jurisdiction of Arbitral Tribunals
5. Conduct of Arbitral Proceedings
6. Making of Arbitral Award and Termination of Proceedings
7. Recourse Against Arbitral Award
8. Finality and Enforcement of Arbitral Awards
9. Appeals
10. Miscellaneous
PART I-A
ARBITRATION COUNCIL OF INDIA
PART II
ENFORCEMENT OF CERTAIN FOREIGN AWARDS
1. New York Convention Awards
2. Geneva Convention Awards
PART III
CONCILIATION
PART IV
Schedules
Subject Index
SUPPLEMENTARY PROVISIONS
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Author Details
Saurabh Bindal, Advocate Supreme Court of India and Delhi High Court
R.V.Prabhat, Advocate Supreme Court of India and Delhi High Court