Introduction The Arbitration and Conciliation Act, 1996 (“Act”), was enacted to minimize judicial interference in arbitral proceedings and reinforce the finality of arbitral awards. Section 34 of the Act provides a limited recourse to courts for setting aside an arbitral award, while Section 37 provides an option for appeals against [...]
Arbitration has emerged as a pivotal method for resolving intricate commercial disputes in India. Promising speed, cost-efficiency, and reduced procedural complexity compared to litigation in regular courts, arbitration has garnered significant attention from corporations, investors, and businesses. However, despite its benefits, arbitration in India faces substantial procedural hurdles, particularly in [...]
Third-party funding (TPF) refers to an arrangement between a litigant and independent third party for financing the dispute resolution process, wherein it is mutually agreed that in an event of success, the third-party would get a share of the monetary award or damages received by the litigant, out of the [...]
Independence and impartiality of arbitrators are the hallmarks of arbitration. The amendments to the Arbitration and Conciliation Act, 1996 in the year 2015, adopted the international best practices from the International Bar Association Guidelines on Conflict of Interest aimed to bolster not only the neutrality of arbitrators, but also the [...]
Every contract contains both parties’ rights and duties, the violation of which may result in legal action against the party at fault. In order to avoid future disputes, the rights and duties are generally expressly stated in the contract. However, the existence of some contract terms is so obvious that [...]