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Assignment 4,5 LCA
Assignment 4,5 LCA
Assignment 4,5 LCA
By: Yash Rajbhoj, Atish Jadhav, Yash Nimbalkar, Tejas Bhosale, Atharva
Starkar
The legal framework for conducting arbitration proceedings in India is established by the
Arbitration and Conciliation Act of 1996. The Act is structured into various parts, with Part I
specifically addressing arbitration. Here are key provisions from the Act detailing the roles of
arbitrators and the prescribed methodology for resolving disputes:
● Arbitrator Appointment (Section 10): This section delineates the process for appointing
arbitrators. Parties can mutually agree on a procedure for this appointment, and in the absence of
such agreement, the Act provides a mechanism for court-appointed arbitrators.
● Challenge Grounds (Section 12): Section 12 outlines the grounds on which challenges to an
arbitrator may be based. These include considerations such as impartiality, independence, or a
lack of agreed-upon qualifications.
● Arbitrators' General Duty (Section 18): Arbitrators are obligated under Section 18 to treat
parties equitably, afford each party an opportunity to present its case, and ensure a just and
unbiased resolution of the dispute.
● Award Making and Proceedings Termination (Section 29): This section outlines the process
for creating an arbitral award. The award, required to be in writing and signed by the arbitrators,
must state the reasons on which it is based. Subsequent to the award, the arbitral proceedings
come to a close.
● Correction, Interpretation, and Additional Awards (Sections 33 and 34): These sections
confer authority upon the arbitral tribunal to rectify errors, offer interpretations, or issue
additional awards.
● Form and Contents of Award (Section 31): Section 31 establishes the prerequisites for the
form and content of an arbitral award, including specifying the date and place of arbitration.