About arbitaration
Venkat D
(Querist) 08 November 2012
This query is : Resolved
Sir , Can I know the validity of arbitrate rights as per Indian Law.
R.K Nanda
(Expert) 08 November 2012
academic query. study law books.
V R SHROFF
(Expert) 08 November 2012
academic query.
Sailesh Kumar Shah
(Expert) 08 November 2012
Read The Arbitration and Conciliation act 1996.
Guest
(Expert) 08 November 2012
Please state the real problem for which you desire solution, rather than putting academic query.
Ms.Nirmala P.Rao
(Expert) 08 November 2012
Dear Client,
Most of the powers of the Arbitrator or his rights flow from the Arbitration Agreement itself. An Arbitrator has the following power
she arbitrators or umpire shall, unless a different intention is expressed in the agreement, have power to-
(a) administer oath to the parties and witnesses appearing;
(b) state a special case for the opinion of the Court on any question of law involved, or state the award, wholly or in part, in the form of a special case of such question for the opinion of the Court;
(c) make the award conditional or in the alternative;
(d) correct in an award any clerical mistake or error arising from any accidental slip or omission ;
(e) administer to any party to the arbitration such interrogatories as may, in the opinion of the arbitrators or umpire, be necessary.
According to th Supreme Court an arbitrator has right to award interest along with the principal amount.
If the parties decide by their arbitration Agreement that arbitration award is binding then it is binding on the parties. If they decide that Ir is not impartial they can further challenger an arbitration award on the ground of being partial,, biased etc in higher courts.
Ms.Nirmala P.Rao
Legal Expert
