Author- admin
Date:June 1, 2022
What is MSME MSME is an abbreviation of Micro, Small and Medium Enterprises. In other words, these are the enterprises which are Micro, Small and Medium in nature. The enterprises which are Micro, Small and Medium are presently determined by the amount of investment in plant, machinery or equipment and the annual turnover, as per […]
Author- admin
Date:May 27, 2022
How does arbitration proceeds? Arbitration is an agreement based dispute resolution mechanism. So proceeds for arbitration followings are the pre-requisites: 1. Existence of an arbitration agreement within the scheme of section 7 of Arbitration and Conciliation Act, 1996; and 2. Existence of a dispute. As per the provisions Arbitration and Conciliation Act, 1996, normally arbitration […]
Author- admin
Date:
What power an arbitrator has in an arbitration proceeding ? Arbitration & Conciliation Act, 1996 is an special Act. Arbitrator derives its power from the same. The Act has envisaged almost all the situation, and provided provisions where Arbitrator enjoys the same power like a normal court. Arbitrator’s power includes the followings : To rule […]
Author- admin
Date:
How can parties go to arbitration ? For adjudication of dispute through arbitration, as per section 7 of the Arbitration & Conciliation Act, 1996 an arbitration agreement must exists between the parties. As per section 7 of the Arbitration & Conciliation Act, 1996 1. An arbitration agreement may be in the form of an arbitration […]
Author- admin
Date:
How arbitration is beneficial? We take example of filing a suit and will see how arbitration is beneficial Suit in District Court / High court Arbitration Court fee is payable for filing suit (Ranging from 1 % to 7 % of valuation) Initially, no fee is payable. On Award Rs. 100 per Rs. 1 Lac […]
Author- admin
Date:
Is Arbitrator’s decision or award binding on parties Any decision made or final award passed by the arbitration is legally binding upon the parties, in the same manner, a judgement or decree is binding. Furthermore, as per the international conventions, any arbitration awards or judgement in foreign countries are enforceable or executable in India and […]
Author- admin
Date:
Who is an arbitrator? Arbitrator meaning The arbitrator is an individual appointed with the consent of the parties or as per the provisions of the Arbitration & Conciliation Act, 1996 to adjudicate the dispute between the parties. Penal of the arbitrator(s) may be more than one, depending upon the agreement between the parties, however, as […]
Author- admin
Date:
What is arbitration? Arbitration meaning Arbitration is a procedure under which : => Dispute is referred to an arbitrator or more than a single arbitrator (the number of arbitrators has to be odd in number). => Arbitrator conducts the proceeding of adjudication of the dispute between the parties. => Arbitrator passes an award. An agreement […]
Author- admin
Date:April 12, 2022
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