NB Associates – Advocates & Legal Consultants
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Date:June 1, 2022
How does MSME Facilitation Council work As per Section 21(2) the procedure to be followed in the discharge of their functions by the members (of the Facilitation council) shall be such as may be prescribed by the State Government. Thus, State Government can prescribe the procedure. However, the followings are normally followed procedure : -> […]
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What is the MSME Facilitation council Section 20 of the Micro, Small and Medium Enterprises Development Act, 2006 (the ‘Act’) for the establishment of Micro and Small Enterprise Facilitation Councils (MSEFC) by the State Government. Each Facilitation council consists of 3 – 5 members. The composition, and procedure to be followed in the discharge of […]
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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 […]
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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 […]
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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 […]
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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 […]
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Arbitration is a preferred method for resolving disputes outside the court system. Therefore, its binding nature is a common query. What is an Arbitrator’s Award? An arbitrator issues an award as the final decision in arbitration. This decision resolves the conflict between the parties. The award may include monetary compensation or specific obligations. Consequently, it […]
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This article delves into the question, “Who is an arbitrator?” and explores their role, responsibilities, and importance in the arbitration process. Arbitration has become a preferred method for resolving disputes in business and legal settings due to its efficiency and flexibility. Central to the arbitration process is the arbitrator, a neutral party responsible for delivering […]