Arbitration in Contractual laws
CIA 3 - Contracts- II
Role of Arbitration in Contractual Laws
Submitted By- Ronit Lal Sarangi 1216439
Role of Arbitration in Contractual laws
Abstract
The enactment of Arbitration and Conciliation Act of 1996 the scope of the decisions delivered by the Indian Judiciary have changed their scope of dispute resolution. The introduction of Arbitration clause is the outcome of two important aspects: Indian Judiciary’s incompetency to dispose cases in stipulated amount of time and the introduction of this mechanism in the globalized world. With a booming economy and a corresponding increase in the size and number of disputes likely, it is more important than ever for foreign investors in India to understand the nuances of drafting an arbitration clause. 1 The ambit and scope lay down by Arbitration proceedings have long been considered as a crusading factor considering the mechanism with Indian parties. The paper lays down a purposive and effective platform for the meaning, need and laws relating to Arbitration in Indian legal framework. The Author seeks to establish a segmentation of ideas in respect with the relevance of Contracts Act with Arbitration laws prevailing in our legal system. The paper aims at a critical analysis prerogative to the extent to which Indian courts can intervene in the arbitral process. Subsequently the paper reveals a pavement of prospects of Dispute Resolution justified with relevant case laws.
Introduction
Arbitration has given the economy a large number of choices, while resolving complicated disputes. Choices such as the appointment of an arbitrator, location of proceedings, selecting
Role of Arbitration in Contractual Laws
Submitted By- Ronit Lal Sarangi 1216439
Role of Arbitration in Contractual laws
Abstract
The enactment of Arbitration and Conciliation Act of 1996 the scope of the decisions delivered by the Indian Judiciary have changed their scope of dispute resolution. The introduction of Arbitration clause is the outcome of two important aspects: Indian Judiciary’s incompetency to dispose cases in stipulated amount of time and the introduction of this mechanism in the globalized world. With a booming economy and a corresponding increase in the size and number of disputes likely, it is more important than ever for foreign investors in India to understand the nuances of drafting an arbitration clause. 1 The ambit and scope lay down by Arbitration proceedings have long been considered as a crusading factor considering the mechanism with Indian parties. The paper lays down a purposive and effective platform for the meaning, need and laws relating to Arbitration in Indian legal framework. The Author seeks to establish a segmentation of ideas in respect with the relevance of Contracts Act with Arbitration laws prevailing in our legal system. The paper aims at a critical analysis prerogative to the extent to which Indian courts can intervene in the arbitral process. Subsequently the paper reveals a pavement of prospects of Dispute Resolution justified with relevant case laws.
Introduction
Arbitration has given the economy a large number of choices, while resolving complicated disputes. Choices such as the appointment of an arbitrator, location of proceedings, selecting
Bibliography: 3. Dozco india (P) Ltd .v. Doosan Infracore Co. Ltd (2011)6 SCC 179 4 12. Bharat Aluminum & Co. v. Kaiser Aluminum Technical Services Inc, SC Civil Appeal No. 7019 of 2005.