REVISED APPELLATE ARBITRATION-1
Keywords:
ARBITRATION, REVISED APPELLATE ARBITRATIONAbstract
During the medieval time, people used to submit their dispute to the group of sagacious and prudent men of the community called ‘PANCHAYAT’—for a binding decision.1 Earlier there was no specific authority to governing laws. Laws were just being implemented because of fear of social sanctions. “Regulations” were adopted as laws for reference of the selected dispute to arbitration. Due to the change in economic policies and ever-increasing population of India created caseloads on Indian Judiciary. The average lifespan of the dispute in Indian Litigation has increased from 10 years to 15 years.2 With the coming up of Arbitration and Conciliation Act,1996 the old cultural Shibboleth about litigation was dispensed with. Now there were no delays in resolving the disputes. People no longer perceived Justice as a Jealous mistress that demands lifetime of preservance. The Award passed by the Arbitrators were binding between the parties and enforceable as the decree of the court. Up till now, no appeal was allowed in this regard, except the grounds set forth in Section 34 of Arbitration and Conciliation Act,19963 But with the decision of Supreme Court in the landmark judgment of “Centro trade Minerals and Metals Inc. Vs. Hindustan Copper Ltd”4 appellate arbitration in India was held valid.
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