Tag: Section 34 of the Arbitration Act

On November 04, 2020, the President of India promulgated the Arbitration and Conciliation (Amendment) Ordinance, 2020 (“Ordinance”). The Ordinance was promulgated to ensure that all parties get an opportunity to seek unconditional stay of enforcement of arbitral awards where the underlying arbitration agreement or contract or making of the arbitral award are induced by fraud or corruption. ......

Arbitration that was once supposed to be the panacea for the woes of litigation, has now become complex and expensive due to several factors, such as ‘multiplicity’ of tribunals, awards, references and challenges arising among the same parties, contracts or series of contracts. Multiple arbitrations before different tribunals has led to the increase in “multiplicity of arbitral tribunals”. ......

The United Nations Commission on International Trade Law - Model Law on International Commercial Arbitration, 1985 (“Model Law”) was drafted for the individual States to adopt “in their statutory arbitration laws either in its entirety, or a substantial part of its provisions, or at least its general shape and philosophy, so as to bring about a certain amount of uniformity amongst national laws…”....