Arbitration act
Rajesh Kumar
(Querist) 13 June 2012
This query is : Resolved
The Arbitration was appointed in the year 1991 and the Arbital award was announced in the year 1998. Is the award referred to the Court for rule of court was necessary of not? Is the award final and binding on the parties?
Guest
(Expert) 14 June 2012
Since the arbitration proceedings in the instant case commenced prior to the effective date of the Arbitration & Conciliation Act,1996, it would be governed by the provisions of the old Act,under which it was necessary to file the award before the court to make it a rule of the court.
The provisions of Arbitration and Conciliation Act, 1996, nowhere provides or mandates that the re-enacted Act or law would automatically apply to pending arbitration proceedings or that the old Act would automatically be not applicable and the rights, if any, accrued to the parties would also be negated. M/s Minny Enterprises V. General Manager, I.T.D.C, (FAO(OS) No. 348/2003) decided on July 28th, 2004.
Accordingly, in the instant case ,you shall have to file the award before the court to make it a rule of the court.
Shonee Kapoor
(Expert) 14 June 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
