MSME Award Appeal here we mean and discuss Appeal against the order, decree or Award arising out of the statutory arbitration proceeding under MSME Act. There have been challenges to this provision in courts, where the contentions were raised that this provision is not mandatory and there can be deviation by the Appellate court. Thus, the Supreme Court has made it clear that the provision of section 19 of the MSME Act is mandatory in nature..             
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How does arbitration proceeds?

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 proceeds as per the followings :

1. Invocation of arbitration agreement & arbitrator appointment: section 21, 11

2. Filing of statement of claim

3. Filing of statement of defence or counterclaim

4. Evidence

5. Payment of stamp duty & Passing of an award

6. Execution of award

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