01 November 2004
In India prior to 1996 Arbitrations were governed by Arbitration and Conciliation Act of 1940. New Act was passed in 1996 which brought changes in the said law in India. Changes under the new Act called Arbitration and Conciliation Act of 1996 are summarized as under:
One of the important changes brought in by the Arbitration and Conciliation Act, 1996, (hereinafter referred to as the 1996 Act or Act of 1996) in the field of law concerning arbitration, compared to the analogous provisions in the earlier enactment, Arbitration Act of 1940 (herein after referred to as the 1940 Act or Act of 1940) is relating to `enforcement of awards’.
