Arbitration has emerged as a preferred method for resolving disputes in India, offering parties a flexible and efficient alternative to traditional court litigation. The Arbitration and Conciliation Act 1996 serves as the cornerstone of India's arbitration regime, providing the legal framework for conducting arbitration proceedings.
In the realm of conflict resolution, two methods often stand out: Mediation and Arbitration. While both aim to settle disputes efficiently, they differ significantly in their processes, outcomes, and level of control parties retain.
In a recent Judgment dated 1st of March 2024, in the matter of Arif Azim Co, the Supreme Court of India while dealing with an Application under S.11(6) of the Act, seeking to appoint an arbitrator in a matter of International Adhoc arbitration held that the appointing Court has to consider two limitation periods one starting from the date of cause of action till the date of commencement of the arbitration and the 2nd is to be calculated from the date of commencement of Arbitration till the filing of the Section.11 application.
Most of the construction and infrastructure arbitrations in which termination happens due to the lapses attributable to the employer, the major claim of the contractor shall be “Loss of Profit”.
The Legal framework governing the Permanent Court of Arbistration (PCA) is baded on the Hague Convention of 1899 and it's subsquent revisions. The PCA operates as an intergovernmental organization and its statutes and rules are agreed upon by the states that choose to submit their disputes to its jurisdiction.
The Arbitration and Conciliation Act and 1996 and is a pivotal legislation in India that governs the process of arbitration and providing a robust framework for the resolution of disputes outside the traditional court system.
Arbitration and as a method of alternative dispute resolution and operates on several guiding principles that help ensure a fair and efficient and effective resolution of conflicts. These principles are designed to maintain the integrity of the process and provide a framework for arbitrators and parties involved in dispute resolution.
Becoming a corporate lawyer in India is a challenging yet rewarding journey that requires a combination of education, practical experience, and a commitment to continuous learning. Corporate law, often seen as a dynamic and fast-paced field, offers individuals the opportunity to work with businesses on a variety of legal matters, including mergers and acquisitions, contract negotiations, and compliance issues.
Arbitration, as a method of alternative dispute resolution, has gained significant traction in the legal landscape. As businesses and individuals seek more efficient and confidential means of resolving disputes, arbitration has emerged as a preferred avenue.
In the dynamic landscape of commerce, disputes are an inevitable aspect of business transaction. When conflicts arise, finding a swift and effective resolution becomes paramount to maintaining the equilibrium of the commercial ecosystem. One powerful mechanism that has emerged as a cornerstone in dispute resolution is arbitration.
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