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Sudhir Sachdeva Law Classes 9999997086

Arbitration
and
Conciliation Act
1996

CS Executive- Jurisprudence Interpretation and General Laws Page 1


Sudhir Sachdeva Law Classes 9999997086

Sudhir Sachdeva
Classes
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Sudhir Sachdeva Law Classes 9999997086

QUESTION-1 WHAT ARE THE AIMS OF ARBITRATION AND CONCILIATION ACT 1996.
ANSWER:
AIMS OF • The Arbitration and Conciliation Act, 1996 aims at
ARBITRATION • streamlining the process of arbitration
AND • and facilitating conciliation in business matters.
CONCILIATION
ACT 1996 • The Act recognizes the autonomy of parties
• in the conduct of arbitral proceedings by the arbitral tribunal
• and abolishes the scope of judicial review of the award
• and minimizes the supervisory role of Courts.

• The autonomy of the arbitral tribunal has further been


strengthened
• by empowering them to decide on jurisdiction
• and to consider objections regarding the existence
• or validity of the arbitration agreement.

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QUESTION-2 THE LAW OF ARBITRATION AND CONCILIATION ACT IS BASED ON


WHICH INTERNATIONAL LAW?
ANSWER
• The new Law is based on United Nations Commission on
International Trade Law (UNCITRAL), model law on
International Commercial Arbitration.

QUESTION-3 WHY THE ARBITRATION AND CONCILIATION ACT WAS PASSED?


ANSWER:
• With a view to consolidate and amend the law relating to
• domestic arbitration,
• international commercial arbitration,
• enforcement of foreign arbitral awards and
• also to provide for a law relating to conciliation and related
matters,
• a new law called Arbitration and Conciliation Act, 1996 has been
passed.

CS Executive- Jurisprudence Interpretation and General Laws Page 3


Sudhir Sachdeva Law Classes 9999997086

Sudhir Sachdeva Classes


Call 9999997086 to buy CA CS CMA Video Lectures
Click for FREE Videos Lectures
www.youtube.com/c/sudhirsachdeva
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CS Executive- Jurisprudence Interpretation and General Laws Page 4