Unilateral Appointment of Arbitrators - An issue which has significantly impacted resolution through Arbitration Mechanism
Introduction Alternate Dispute Resolution Mechanisms (herein referred to as "ADR mechanisms") have significantly impacted and improved the Indian dispute resolution system in last few decades. One of the key successful ADR mechanisms evolved over a period of time is the Arbitration mechanism. Presently this law is governed in India by means of ARBITRATION AND CONCILIATION ACT, 1996(herein referred to as "A&C Act, 1996". Evolvement of Arbitration Law in India Before the enactment of A&C Act 1996, the law of arbitration in India was substantially governed by three enactments i.e., the Arbitration Act, 1940, the Arbitration (Protocol and Convention) Act, 1937 and the Foreign Awards (Recognition and Enforcement) Act, 1961. In order to sustain the economic reforms and other policy changes, the need for a consolidated and amended law relating to domestic arbitration, international commercial arbitration, enforcement of foreign arbitral awards was felt wh...