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The Tax Publishers Resort Next To Arbitral Award Prayag Narain In order to assure proper conduct of arbitral proceeding, the law allows certain remedies against an award. Section 34 of the Arbitration and Conciliation Act, 1996 lays down the procedure for taking recourse to court against an arbitral award. This section also specifies in express terms the grounds on which a party can apply for setting aside an arbitral award to the court. The present write-up elaborates the provisions and relevant judgments of the Courts in this regard. 1. Introduction Settlement of disputes by arbitration is very ancient and well known. Arbitration is a method of alternate dispute resolution where parties to a dispute settle the dispute outside of the Court through an Arbitral Tribunal. The Arbitration and Conciliation Act, 1996, further amended vide the Arbitration and Conciliation (Amendment) Act, 2015, facilitates arbitration proceedings. An arbitral award is final and binding between the parties. In order to ensure proper conduct of proceedings and also to make sure that arbitrator does not act in an arbitrary manner, the law itself allows that arbitral award can be challenged. If any of the parties to dispute is not satisfied with the decision of an Arbitral Tribunal, they can file an application to the Court of Law. An aggrieved party may get recourse against arbitral award to Court for setting aside the arbitration award on certain prescribed grounds. Section 34 deals with the provisions regarding setting aside arbitral award. 2. Extent of judicial intervention Section 5 of the Arbitration and Conciliation Act, 1996 states that notwithstanding anything contained in any other law for the time being in force, in matters governed by Part I 'Arbitration' of the Arbitration and Conciliation Act, 1996, no judicial authority would intervene except where so provided in Part I 'Arbitration'. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Resort Next To Arbitral Award

Prayag Narain

In order to assure proper conduct of arbitral proceeding, the law allows certain remedies against an award. Section 34 of the Arbitration and Conciliation Act, 1996 lays down the procedure for taking recourse to court against an arbitral award. This section also specifies in express terms the grounds on which a party can apply for setting aside an arbitral award to the court. The present write-up elaborates the provisions and relevant judgments of the Courts in this regard.

1. Introduction

Settlement of disputes by arbitration is very ancient and well known. Arbitration is a method of alternate dispute resolution where parties to a dispute settle the dispute outside of the Court through an Arbitral Tribunal. The Arbitration and Conciliation Act, 1996, further amended vide the Arbitration and Conciliation (Amendment) Act, 2015, facilitates arbitration proceedings. An arbitral award is final and binding between the parties. In order to ensure proper conduct of proceedings and also to make sure that arbitrator does not act in an arbitrary manner, the law itself allows that arbitral award can be challenged. If any of the parties to dispute is not satisfied with the decision of an Arbitral Tribunal, they can file an application to the Court of Law. An aggrieved party may get recourse against arbitral award to Court for setting aside the arbitration award on certain prescribed grounds. Section 34 deals with the provisions regarding setting aside arbitral award.

2. Extent of judicial intervention

Section 5 of the Arbitration and Conciliation Act, 1996 states that notwithstanding anything contained in any other law for the time being in force, in matters governed by Part I 'Arbitration' of the Arbitration and Conciliation Act, 1996, no judicial authority would intervene except where so provided in Part I 'Arbitration'.