Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 30 Arbitration and Conciliation Act, 1996

Arbitration and Conciliation Act, 1996

 

 

30. Settlement.—

 

 

(1) It is not incompatible with an arbitration agreement for an arbitral tribunal to encourage settlement of the dispute and, with the agreement of the parties, the arbitral tribunal may use mediation, conciliation or other procedures at any time during the arbitral proceedings to encourage settlement.

 

(2) If, during arbitral proceedings, the parties settle the dispute, the arbitral tribunal shall terminate the proceedings and, if requested by the parties and not objected to by the arbitral tribunal, record the settlement in the form of an arbitral award on agreed terms.

 

(3) An arbitral award on agreed terms shall be made in accordance with section 31 and shall state that it is an arbitral award.

 

(4) An arbitral award on agreed terms shall have the same status and effect as any other arbitral award on the substance of the dispute.

 

Comments

 

Settlement

 

When the arbitrator, having been invested with the jurisdiction to decide the arbitrability of certain claims has committed error of jurisdiction in not considering the arbitrability of the claims and passed a non-speaking award granting certain lump sum amount, it is difficult to give acceptance to the award made by the umpire; Tamil Nadu Electricity Board v. Bridg

 

 

Previous | Next

 

Arbitration and Conciliation Act, 1996

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation