Mulla & Mulla & Craigie Blunt & Caroe | View firm profile
The Arbitration and Conciliation Act, 1996 (Act) provides the framework for arbitration and conciliation in India. Drafted on the basis of the UNCITRAL Model Law, it is divided into four parts. Each part governs a different aspect of the arbitration and conciliation process: a Part 1 governs commercial arbitration; b Part 2 governs the enforcement of certain foreign awards; c Part 3 governs conciliation; and d Part 4 contains supplementary provisions (regarding the power of the court to make rulings, etc.). The Act 2 was recently amended in 2016 with an aim to make it more robust by plugging the lacunae that existed in the original legislation.
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