Legal Framework Governing Arbitration in India | |
The primary law governing arbitration in India is the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Act"). This Act is modeled after the United Nations Commission on International Trade Law (UNCITRAL) Model Law and has undergone several amendments, the most recent being in 2021, to streamline the process and make it more efficient. The Act provides the foundation for the arbitration process in India, both domestic and international. It outlines the appointment of arbitrators, the powers and duties of arbitrators, the role of courts in arbitration proceedings, and the enforcement of arbitral awards. Importantly, the Act recognizes and enforces the autonomy of the parties involved, allowing them to decide the procedural rules, venue, and the law governing the dispute | |
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