Origin of Arbitration

Resolution of disputes through arbitration is an accepted method from time immemorial. China, India and Italy are the first few countries that used this method. British India, from the 18 th century, had regulations on arbitration in Bengal, Bombay, Madras, etc. The first Indian Act of Arbitration was enacted in 1899; The next was the Arbitration Act 1940; The recent one is Arbitration and Conciliation Act of 1996.

Arbitration Acts

The arbitration Act, 1940 has been repealed under Section 85 of Arbitration and Conciliation Act 1996. Not withstanding such repeal, the provisions of the Arbitration Act 1940 still apply to arbitral proceedings which commenced before this Act came into force unless otherwise agreed by the parties, but the Arbitration Act 1996 applies to arbitral proceedings which commenced on or after the Act came into force.

Principal Differences In Implementation Of Award

The principal differences between the Indian Arbitration Act 1940 on the one hand and the 1996 Act on the other regarding the courts powers regarding an award are as shown in Table-1.