India - Chapter 5 - International Commercial Arbitration in Asia - 3rd Edition

Page Count:

24 pages

Published:

February, 2013

Jurisdictions:

India

Practice Areas:

National Legislation,

Agreement to Arbitrate,

Arbitral Process,

Languages,

Procedure and Grounds for Setting Aside

Author Detail:

Ashwinie Kumar Bansal is an Advocate of the Supreme Court of India, New Delhi and also Punjab & Haryana High Court, Chandigarh. Abhishek Kumar Bansal is currently pursuing his B.A/L.L.B. from the Army Institute of Law, Mohali, and is registered for the Professional Course with Institute of Company Secretaries of India, New Delhi, India.

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Description:

Originally from: International Commercial Arbitration in Asia - 3rd Edition

“I realized that the true function of a lawyer was to unite parties. . . . A large part of my time during the 20 years of my practice as a lawyer was occupied in bringing about private compromises of hundreds of cases. I lost nothing thereby—not even money, certainly not my soul.”

Mahatma Gandhi

I. INTRODUCTION

Since ancient times, negotiation, mediation and arbitration are wellrecognized modes for the settlement of family as well as commercial disputes in India. The tradition of settlement of disputes through a neutral third party was popular in India even in ancient times and was mentioned in ancient legal texts and digests.1 Manu, also known as the lawmaker of ancient India, mentioned in his book Manusmriti that arbitration is a common method of resolving disputes regarding caste differences. Arbitration was used by the local adjudicatory bodies like panchayats to settle village disputes.2

Table of Contents:

Chapter 5

Arbitration in India
I. Introduction
II. Legal Framework, Courts and Laws in India
III. The Indian Arbitration and Conciliation Act of 1996
IV. The Applicability of the Indian Arbitration Act to International Arbitrations
V. The Arbitration Agreement
VI. Arbitration in Practice: Institutional Versus Ad Hoc Arbitration
VII. Composition of Arbitral Tribunal, Selection of Arbitrator and Challenges
VIII. Conduct of Proceeding: Arbitral Procedure, Language, Evidence and Hearings
IX. Rendering of Award—Costs, Deposits and Other Considerations
X. Recourse against Arbitral Awards—Enforcement and Setting Aside of Award
XI. Conciliation
XII. Conclusion