Author Profile

Legal India News Admin

Posted On by &filed under .


Can the Sole Arbitrator or Panel of Arbitrators grant an adjournment of hearing?

Can the Sole Arbitrator or Panel of Arbitrators grant an adjournment of hearing?

Yes, if either of the parties want an adjournment of hearing, they should make an application in writing to the Exchange giving reasons for seeking adjournment to the Exchange in advance to enable the Exchange to forward such request to the arbitrator.

The arbitrator at his/her discretion may grant the adjournment subject to such conditions as deemed fit by him/her.

Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

Arbitration is a quasi judicial process of settlement of dispute between the trading members and clients, in respect of trades done on the Exchange. Arbitration aims at quicker legal resolution for the disputes.

When one of the parties feels that the complaint has not been resolved satisfactory either by the other party or through the complaint resolution process of the Exchange, the parties may choose the route of arbitration.


Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz