2 Arbitration and Conciliation Act

Arbitration and Conciliation Act news

Arbitration under MSME Act

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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Posted Under: Corporate Law |

HLC to review Institutionalisation of Arbitration Mechanism in India

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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Posted Under: Corporate Law |

Constitution of HLC to review Institutionalization of Arbitration Mechanism

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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Posted Under: Corporate Law |

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

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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Posted Under: Corporate Law |

Guarantor-director cannot be dragged into arbitration

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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Posted Under: Corporate Law |

Award of the sole arbitrator enforceable in India: Delhi HC

The Delhi high court last week declared that the award of the sole arbitrator appointed by the International Court of Arbitration in the dispute between Fittydent International GmBH and Brawn Laboratories was enforceable in India. The award was in favour of the foreign firm, which had a licence agreement with the Indian firm for manufactu...

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Posted Under: Corporate Law |

Amendments in Arbitration and Conciliation Act 1996

Dr.M.Veerappa Moily, Minister of Law and Justice will release a paper on Proposed Amendments in Arbitration and Conciliation Act, 1996 here tomorrow. The Arbitration and Conciliation Act, 1996 deals with law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards. The objects and ...

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Posted Under: Corporate Law |

Arbitration tribunal cannot award interest on interest

The Supreme Court has ruled that an arbitral tribunal has no power to direct payment of compound interest or interest on interest on the award amount from the date of the award to the date of payment. It declared in the appeal case, State of Haryana vs SL Arora & Co, that the Punjab Haryana high court was wrong in taking a contrary view. ...

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Posted Under: Corporate Law |

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