Efficacy of Arbitration under the Arbitration Act 1996 (As Amended 2015): An Overview of the Arbitration Process

Abstract

Arbitration is alternative method for solving disputes outside the ambit of courts but within the purview of the Act. This process was necessitated due to huge burden on courts in respect of civil matters. It provides for cost effective and expeditious method of solving commercial disputes in a time bound manner. The process of arbitration has been simplified and expedited by the Arbitration Act 1996 (As Amended 2015). The holding of arbitration proceedings, process of appeals, challenge to arbitral awards and other aspect of arbitration has been amended to make to more effective. The efficacy of this Act shall be tested in the years to come but surely will pave the way for faster adjudication of commercial disputes.