Working of Arbitration in India
How does arbitration work in India? What are the laws in India which governs the arbitration proceedings?
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In India, Arbitration is governed by the Arbitration and Conciliation Act, 1996. Prior to this, there were other separate acts (Arbitration Act, 1940 for Arbitration) which governed the subject matter of Arbitration and Conciliation separately. Recently, the parliament has passed the Arbitration and Conciliation (Amendment) Ordinance, 2015 amending various provisions of the 1996 Act. The procedure followed in an Arbitration proceeding is similar to that of the Court and it (procedure) is governed as per the 1996 Act.
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