India has made many strides in the field of arbitration since the advent of the Arbitration and conciliation Act, 1996.
Without having system to ensure impartiality and independence of Arbitrators, arbitration cannot gain confidence in the minds of the parties to the dispute. It is not sufficient that many arbitrators by nature are independent and impartial.
On 4th November 2020, Government of India Ministry of Law and Justice promulgated an ordinance in the name of Arbitration and Conciliation Amendment Ordinance 2020.
In a recent Judgment of Supreme Court of India in the matter of SOUTH EAST ASIA MARINE
By way of a recent Judgment dated 16th September 2020 in the matter of Vedanta Supreme Court of India settled the law relating to limitation to enforce foreign commercial arbitration awards in India.
The law requires arbitration agreement to be in writing to be enforceable and valid. Section 7 of the Act specifies that the Arbitration Agreement shall be in writing, it can be part of a document signed by the parties or it can be by way of exchange of letters
Normally two types of Loss of profit claims are made in the arbitration/ litigation matters arising out of breach of contract, namely, Loss of profits arising out of delays in the execution and loss of profits arising out of the illegal termination of contract.
By a recent Judgement dated 14.07.2020, the Supreme Court of India while deciding Arjun PanditRao Khotkar settled the law relating to admissibility of evidence of electronic records in legal proceedings.
There is a common belief that the arbitration law and competition law regimes stand diametrically opposite to each other with no point of intersection.
The Arbitration & Conciliation Act, 1996 (herein after ‘The Act’) with its advent has paved way for an effective alternate dispute resolution mechanism but reduces importance of certain the procedural and other substantive laws that forms the basis of settling disputes before the courts.
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