Who are the persons and who can act as Arbitrators?

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The Exchange provides a list of eligible persons. Persons who form part of the list of Arbitrators are the ones who possess an expertise in their respective fields including banking, finance, legal (judges) and capital market areas (brokers). Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or… Read more »

Who can apply for arbitration?

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One of the parties to the dispute who wants legal remedy for remedy for resolving dispute could apply for arbitration. On other words clients, trading member can apply for arbitration. 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… Read more »

What is arbitration proceedings?

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The arbitrators are masters of their own procedure and subject to parties agreement, may conduct the proceedings “in the manner they consider appropriate.” This power includes- “the power to determine the admissibility, relevance, materiality and weight of any evidence”. The only restrain on them is that they shall treat the parties with equality and each… Read more »

What is Arbitration ?

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People have various conceptions about Arbitration. The very old concept about Arbitration was Panchaiti. It was a sort of undefined conception of people to settle their disputes, by referring to a person of their choice who would contact the parties and try to settle their disputes. This was an attempt to settle civil disputes by… Read more »

What is the modern concept of Arbitration ?

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The modern concept about Arbitration has greatly changed. On the one hand the parties are given the liberty to enter into an Arbitration agreement of their choice, they also have the liberty to agree to an arbitrator or arbitrators of their choice mutually acceptable to them and also have the liberty to agree to the… Read more »

How to enter into an Arbitration agreement ?

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An Arbitration agreement may be in the form of Arbitration clause in a contract or in the form of a separate agreement. An Arbitration agreement has to be in writing.   The requirement as to Arbitration agreement being in writing is fulfilled ;-   a) If the document is signed by the parties   b)… Read more »

How to get Interim Reliefs in a case where there is an Arbitration agreement ?

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Under the 1940 Act an interim relief could be sought for after commencement of the Arbitration reference. This situation has been basically altered and now as provided in section 9 of The Arbitration and Conciliation Act, 1996. Interim relief may be sought by a party before or during arbitral proceeding or anytime after the making… Read more »

What can a party to an Arbitration agreement do if the other party to the Arbitration agreement institutes a suit in a Court of Law praying for decision on matters, which are covered by the Arbitration agreement ?

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This situation very often used to arise and the other party had no option but to make an application for the stay of the suit under Section 34 of the old Act. If a party commenced a suit and gave notice there of to the other side all further proceedings in Arbitration would become void… Read more »

How and what number of Arbitrators are to be appointed ?

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The parties are free to determine the number of arbitrators, provided that such numbers shall not be an even number. Feeling the determination referred to by the parties, the Arbitral Tribunal shall consist of a sole Arbitrator. If the procedure for appointment of Arbitrator or Arbitrators is not agreed, in an Arbitration with three arbitrators… Read more »