AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Report No. 176

33. Speeding up of all proceedings and time limit for passing awards

(1). All arbitral proceedings pending at the commencement of this Act, before an arbitral tribunal appointed under the principal Act, for more than three years from the date of commencement of such proceedings, shall be completed within a further period of one year from the date of commencement of this Act, or within such extended period as specified in sub sections (2) and (3):

Provided that where a period of three years has not elapsed from the date of commencement of such proceedings at the date of commencement of this Act, the proceedings shall be completed within a further period of six months reckoned from the date of expiry of three years of the commencement of the arbitral proceedings or within such extended period as specified in sub sections (2) and (3).

(2) If the award is not made within the further period of one year or six months as the case may be, specified in sub section (1), the arbitral proceedings shall, subject to the provisions of sub section (3), stand suspended until an application for extension is made to the Court by any party to the arbitration or where none of the parties has made an application as aforesaid, until such an application is made by the arbitral tribunal.

(3) The provisions of sub sections (4) to (8) of section 29A, as inserted in the principal Act, by section 21 of this Act shall, so far as may be, apply for the disposal of application referred to in sub section (2), with a view to speed up the arbitral proceedings, till the award is passed.

(4) Where applications under sub section (1) of section 34 of the principal Act as amended by section 23 of this Act and appeals under sub section (1) of section 37 of the principal Act, as the case may be, are pending before any of the Courts referred to in those sub-sections, on the date of commencement of this Act, they shall be disposed of within six months from the date of such commencement.

Provided that while dealing with an application under sub section (1) of section 34 of the principal Act, if the Court adjourns the proceedings under sub section (5) of that section, the period of six months shall be reckoned from the date of receipt of the order from the arbitral tribunal under that sub section.

(5) Where appeals under sub section (2) of section 37 of the principal Act are pending before any Court, on the date of commencement of this Act, they shall be disposed of within three months from the date of such commencement.



The Arbitration and Conciliation (Amendment) Bill, 2001 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys