What is section 34 of Arbitration and Conciliation Act, 1996?

What is section 34 of Arbitration and Conciliation Act, 1996?

Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the “1996 Act”) stipulates grounds to challenge the arbitral award made under Section 31. However, the challenge to the award can only be made within limitation period of three months from the date of receipt of the award.

What is section 34 application?

Section 34. Application for setting aside arbitral awards. Previous Next. (1) Recourse to a Court against an arbitral award may be made only by an application for setting aside such award in accordance with sub-section (2) and sub-section (3). (2) An arbitral award may be set aside by the Court only if–

When can an award be set aside under the section 34 of the Arbitration and Conciliation Act, 1996?

(3) An application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the arbitral award or, if a request had been made under section 33, from the date on which that request had been disposed of by the arbitral tribunal: Provided that …

Where do I file an appeal against arbitration award?

No second appeal lies from an order passed under section 50 of the Act. However, parties can prefer a Special Leave Petition to the Supreme Court against the order passed under section 50 of the Act under article 136 of the Constitution of India.

Can arbitration award be challenged in India?

The Apex Court also held that it is settled law that when an arbitral award is challenged under Section 34 of the Arbitration Act, no challenge can be made on the merits of the arbitral award. The Supreme Court relied on the judgement in MMTC Ltd. v. Vedanta Ltd.

What is Indian Arbitration and Conciliation Act, 1996?

[16th August, 1996.] An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards as also to define the law relating to conciliation and for matters connected therewith or incidental thereto. 1.

What are the power of arbitrator?

An arbitral tribunal is a panel of one or more adjudicators whose function is to sit and resolve disputes by way of arbitration. The tribunal may consist of a sole arbitrator there may be two or more arbitrators, which includes a presiding arbitrator.

What are the salient features of Arbitration and Conciliation Act, 1996?

To ensure that the arbitral tribunal acts within its jurisdiction. To permit the arbitral tribunal to use methods such as mediation and conciliation during the procedure of arbitration. To minimise the supervisory role of courts. To ensure that an arbitral award is enforceable as a decree of the court.

What is section 34 of the International Commercial Arbitration Act?

Subsection (2A) of Section 34 empowers the courts to set aside any award other than the ones given in International Commercial Arbitration on the grounds of prima facie patent illegality. Subsection (3) of Section 34 provides for a limitation period for filing an application for setting aside of the arbitral award.

What are the provisions of Arbitration and Conciliation Act 1996?

It may be noticed that under the scheme underlying the various provisions of the Arbitration and Conciliation Act, 1996 in cases where the plea about the competence of Arbitral Tribunal on the ground that it had no jurisdiction to enter upon the arbitration, if raised, the Arbitral Tribunal has to decide such plea.

What is the bar of jurisdiction under the Arbitration Act?

The bar of jurisdiction under Section 42 of the Act is only intended to Judgments on Section 34 of Arbitration Act f Judgments on Section 34 of the Arbitration H S Mulia 13 apply to a ‘Court’ as defined in Section 2 (1) (e) of the Act.

When does the arbitration and Conciliation (Amendment) Act 2015 come into force?

Short title and commencement.—(1) This Act may be called the Arbitration and Conciliation (Amendment) Act, 2015. (2) It shall be deemed to have come into force on the 23rd October, 2015. 26. Act not to apply to pending arbitral proceedings.