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Arbitration and Conciliation Act

Emergency Arbitration Orders in India: The Long-Awaited Relief

Company Law - Arbitration as a mechanism of resolving disputes is now widespread in contracts all across the world. It is owing to the courts being infamous for taking too much time to resolve a dispute due to their overworked systems....

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Development of International Commercial Arbitration: Strategizing the Roadmap Ahead

Company Law - Increasing international trade and global business venture growth around the globe have been rapidly increasing over the years, this also has a major drawback of growing conflicts between the nations thereby in order to overcome such conflicts and amicably settle dispute the law of international commercial arbitration has a very important...

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Jurisprudence of arbitrability of Fraud/Corruption

Company Law - Arbitration and Conciliation (Amendment) Act, 2021 and the Jurisprudence of arbitrability of Fraud/Corruption: Hurdle or Help to the Existing Arbitration and Conciliation Act 1996?...

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Alternative Dispute Resolution with special reference to “Arbitration”

Company Law - As the supreme law of the country that is the Constitution based on the welfare state concept, it becomes its prime duty to secure access to justice to its citizens that can be ensured by timely and speedy justice through both judicial as well as non-judicial forums of dispute resolution. In recent years the Alternative […]...

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Commercial Arbitration in India compared to Singapore

Company Law - This study is focused on the effectiveness and practical implication of the arbitration between the two and also get better knowledge about the arbitration in Singapore and what are the things which India is lacking. This comparative study will give help to understand more clearly the difference....

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Arbitration under MSME Act

Company Law - Sub-section 3 of Section 18 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 provides that where the conciliation fails under the provisions of the Act, the Micro & Small Enterprises Facilitation Council (MSEFC) shall either itself take up the dispute for arbitration or refer it to any institution or centre providi...

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HLC to review Institutionalisation of Arbitration Mechanism in India

Company Law - Comments invited on working paper of high level committee (HLC) to review Institutionalisation of Arbitration Mechanism in India by 7 April 2017...

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Constitution of HLC to review Institutionalization of Arbitration Mechanism

Company Law - In order to ensure speedy resolution of commercial disputes and to facilitate effective conduct of international and domestic arbitrations raised under various agreements Government has decided to constitute a High Level Committee (HLC) in the Ministry of Law and Justice...

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Foreign arbitration award enforceable in India according to the Arbitration and Conciliation Act

Company Law - The Delhi high court has held that the foreign arbitration award in the dispute between US firm Penn Racquet Sports and Indian company Mayor International Ltd was enforceable in this country according to the Arbitration and Conciliation Act. The awar...

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Guarantor-director cannot be dragged into arbitration

Company Law - The Supreme Court (SC) ruled last week that a guarantor outside an arbitration agreement cannot be made a party to the arbitration proceedings. It reversed the judgment of the Delhi high court which had asked the guarantor to comply with the award of...

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HC refuses to interfere in arbitral process- Dismisses writ challenging appointment of arbitrator

Subramaniyan N.N Vs Anwar. C.K (Kerala High Court) - Subramaniyan N.N Vs. Anwar. C.K (Kerala High Court) Sub-section (2) of Section 13 of the Arbitration and Conciliation Act, 1996 lays down the procedure to challenge the appointment of an arbitrator. True, sub-section (4) of Section 13 provides that if such a challenge is not successful, the arbitral...

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Section 48 of Arbitration Act not permits review on merits of dispute

EIG (Mauritius) Limited Vs McNally Bharat Engineering Company Limited (Calcutta High Court) - EIG (Mauritius) Limited Vs McNally Bharat Engineering Company Limited (Calcutta High Court) Facts- An application for enforcement of a foreign arbitral award dated 19th June 2020 and an addendum dated 26th October 2020 moved by the petitioner (i.e., EIG Mauritius) against the respondent (i.e., McNal...

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HC explains on what grounds invocation of a bank guarantee can be restrained

KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court) - KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court) In contemporary business, trade and commercial transactions, both domestic and international, significant complexities are involved; for instance spatial distance between counterpartie...

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Arbitrator has Substantial Discretion in Awarding Interest U/s. 31(7)(a) of Arbitration Act: SC

Punjab State Civil Supplies Corporation Limited (Punsup) & Anr. Vs Ganpati Rice Mills & Anr. (Supreme Court) - Punjab State Civil Supplies Corporation Limited (Punsup) & Anr. Vs Ganpati Rice Mills & Anr. (Supreme Court of India) The issue in the present appeal is limited to rate of interest. The Arbitrator had granted interest at the rate of 18% per annum from 01.01.2003 till the date of realization....

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Tax on arbitration award for relinquishment of rights in partnership firm

ACIT Vs Ramona Pinto (ITAT Mumbai) - ACIT Vs Ramona Pinto (ITAT Mumbai) As regards the merits of the case, we find that the assessee has received an arbitration award for Rs.28 crores, upon relinquishment of her rights in the partnership of M/s. P. N. Writer & Co. Here it may be gainful to recount the brief history of the case whic...

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Arbitration and Conciliation (Amendment) Act, 2021

Notification No. 03 of 2021 - (11/03/2021) - (1) This Act may be called the Arbitration and Conciliation (Amendment) Act, 2021. (2) Save as otherwise provided in this Act, it shall be deemed to have come into force on the 4th day of November, 2020....

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Arbitration & Conciliation (Amendment) Bill, 2021 introduced in Lok Sabha

Bill No. 16 of 2021 - (04/02/2021) - THE ARBITRATION AND CONCILIATION (AMENDMENT) BILL, 2021 A BILL further to amend the Arbitration and Conciliation Act, 1996. ...

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Arbitration and Conciliation (Amendment) Ordinance, 2020

No. 14 of 2020 - (04/11/2020) - (1) This Ordinance may be called the Arbitration and Conciliation (Amendment) Ordinance, 2020. (2) Save as otherwise provided in this Ordinance, it shall come into force at once....

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Govt notifies few sections of Arbitration and Conciliation (Amendment) Act, 2019 wef 30.08.2019

Notification No. S.O. 3154(E) - (30/08/2019) - Central Government hereby appoints the 30th August, 2019 as the date on which the provisions of the  section 1, section 4 to section 9 [both inclusive], section 11 to section 13 [both inclusive] and section 15 of Arbitration and Conciliation (Amendment) Act, 2019. MINISTRY OF LAW AND JUSTICE (Depar...

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Arbitration and Conciliation (Amendment) Act, 2019

Notification No. 33 of 2019 - (09/08/2019) - (1) This Act may be called the Arbitration and Conciliation (Amendment) Act, 2019. (2) Save as otherwise provided in this Act, it shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different p...

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Arbitration and Conciliation Act’s Popular Posts

Recent Posts in "Arbitration and Conciliation Act"

Emergency Arbitration Orders in India: The Long-Awaited Relief

Arbitration as a mechanism of resolving disputes is now widespread in contracts all across the world. It is owing to the courts being infamous for taking too much time to resolve a dispute due to their overworked systems....

Read More
Posted Under: Income Tax |

HC refuses to interfere in arbitral process- Dismisses writ challenging appointment of arbitrator

Subramaniyan N.N Vs Anwar. C.K (Kerala High Court)

Subramaniyan N.N Vs. Anwar. C.K (Kerala High Court) Sub-section (2) of Section 13 of the Arbitration and Conciliation Act, 1996 lays down the procedure to challenge the appointment of an arbitrator. True, sub-section (4) of Section 13 provides that if such a challenge is not successful, the arbitral tribunal shall continue the arbitral pr...

Read More

Development of International Commercial Arbitration: Strategizing the Roadmap Ahead

Increasing international trade and global business venture growth around the globe have been rapidly increasing over the years, this also has a major drawback of growing conflicts between the nations thereby in order to overcome such conflicts and amicably settle dispute the law of international commercial arbitration has a very important...

Read More
Posted Under: Income Tax |

Section 48 of Arbitration Act not permits review on merits of dispute

EIG (Mauritius) Limited Vs McNally Bharat Engineering Company Limited (Calcutta High Court)

EIG (Mauritius) Limited Vs McNally Bharat Engineering Company Limited (Calcutta High Court) Facts- An application for enforcement of a foreign arbitral award dated 19th June 2020 and an addendum dated 26th October 2020 moved by the petitioner (i.e., EIG Mauritius) against the respondent (i.e., McNally Bharat Engineering Company Limited). ...

Read More

HC explains on what grounds invocation of a bank guarantee can be restrained

KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court)

KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court) In contemporary business, trade and commercial transactions, both domestic and international, significant complexities are involved; for instance spatial distance between counterparties who engage in such commercial transact...

Read More

Arbitrator has Substantial Discretion in Awarding Interest U/s. 31(7)(a) of Arbitration Act: SC

Punjab State Civil Supplies Corporation Limited (Punsup) & Anr. Vs Ganpati Rice Mills & Anr. (Supreme Court)

Punjab State Civil Supplies Corporation Limited (Punsup) & Anr. Vs Ganpati Rice Mills & Anr. (Supreme Court of India) The issue in the present appeal is limited to rate of interest. The Arbitrator had granted interest at the rate of 18% per annum from 01.01.2003 till the date of realization. On consideration of the objections [&he...

Read More

Jurisprudence of arbitrability of Fraud/Corruption

Arbitration and Conciliation (Amendment) Act, 2021 and the Jurisprudence of arbitrability of Fraud/Corruption: Hurdle or Help to the Existing Arbitration and Conciliation Act 1996?...

Read More
Posted Under: Income Tax |

Tax on arbitration award for relinquishment of rights in partnership firm

ACIT Vs Ramona Pinto (ITAT Mumbai)

ACIT Vs Ramona Pinto (ITAT Mumbai) As regards the merits of the case, we find that the assessee has received an arbitration award for Rs.28 crores, upon relinquishment of her rights in the partnership of M/s. P. N. Writer & Co. Here it may be gainful to recount the brief history of the case which […]...

Read More

Alternative Dispute Resolution with special reference to “Arbitration”

As the supreme law of the country that is the Constitution based on the welfare state concept, it becomes its prime duty to secure access to justice to its citizens that can be ensured by timely and speedy justice through both judicial as well as non-judicial forums of dispute resolution. In recent years the Alternative […]...

Read More
Posted Under: Income Tax |

Foreign award can be binding on non-signatories : SC

Gemini Bay Transcription Pvt. Ltd. Vs Integrated Sales Service Ltd. and Anr. (Supreme Court of India)

Gemini Bay Transcription Pvt. Ltd. Vs Integrated Sales Service Ltd. and Anr. (Supreme Court) Reading of Section 44 of the Arbitration and Conciliation Act, 1996 would show that there are six ingredients to an award being a foreign award under the said Section. First, it must be an arbitral award on differences between persons arising [&he...

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