Time is the most valuable asset

 you don't own

Time is finite and valuable and we all are facing scarcity of time.Now-a-days we don't have patience to wait for years to get our disputes resolved. With the motto to get a permanent solution for this problem we had taken initiative and started Permanent Arbitration Institute "NATIONAL ARBITRAL TRIBUNAL"in the year 2014. These two year we had struggled to make people understand what arbitration is. how cases are resolved here.The rate with which we are growing is not that expected but we are moving towards towards our motto really motivate us to work hard  Till date the average period of disposal of cases at National Arbitral Trbunal was four months . Amendments in Arbitration & Conciliation Act, 1996 have given us wings to achieve our goal "Hassle free access to justice by all". 

About NAT in Dainik Bhaskar Jodhpur Dated 10- April-2016

If you have any querry you can contact us 

mail- querry.nat@gmail.com

facebook page-https://www.facebook.com/privatecourt/

linkedin-https://www.linkedin.com/home?trk=nav_responsive_tab_home

With the motto to create a litigation free society National Arbitral Tribunal have started awareness program -

Kanooni Suchna Abhiyan 

 NAT - Panch Faisla

one law to solve all your civil legal disputes is being empowered by new amendments

Proposed amendments

Significant changes contained in the Ordinance are:

1. Amendment to § 2 (2) extending the applicability of § 9, § 27 and § (37) (1) (a) & (3) contained in Part 1 of the A&C Act to international commercial arbitrations. § 9 deals with interim relief granted by the courts and § 27 deals with court assistance to a tribunal for taking evidence. The Ordinance by clarifying what provisions in Part 1 of the A&C Act, apply to international commercial arbitrations, in effect makes it clear that other provisions of Part 1 of the A&C are not applicable to international commercial arbitration, thereby codifying the Supreme Court decision in Balco v Kaiser Aluminium (2012) 9 SCC 552.
2. Amendment to § 8 which allows even non-signatories to an arbitration agreement to be joined as parties in a domestic arbitration. The amendment effectively negates the decision of the Supreme Court inSukanya Holdings v Jayesh H Panda 2003 (5) SCC 531, where it had ruled that joinder of non-signatories to an arbitration agreement was not permissible.
3. Further amendment to § 8 requires that the judicial authority compulsorily refer parties to arbitration irrespective of any decision by the Supreme Court or any other court, if the judicial authority finds that a valid arbitration clause exists. The amendment essentially nullifies the judgment of the Supreme Court inN. Radhakrishnan v Maestro Engineers 2010 1 SCC 72, where it had ruled that serious allegations of fraud are not arbitrable. The amendment will also have implications for the Supreme Court's decision inBooz Allen Hamilton v SBI Home finance (2011) 5 SCC 53 wherein it had listed disputes that were not arbitrable.
4. § 9 of the Act is amended to restrain the courts from entertaining an Application for interim relief once arbitration has commenced. The Court is empowered to entertain such an application only if it is convinced that the arbitration tribunal will be unable to provide effective relief.  
5. The Ordinance requires the appointment of an arbitrator by the courts to be completed expeditiously, preferably within a period of sixty (60) days. Further the scope of the Courts power under § 11 has been restricted to examining the validity of the arbitration clause alone and no further. This is irrespective of any decision of the Supreme Court or any other court.
6. The Ordinance amends § 12 to include an obligation requiring a potential arbitrator to make an express disclosure on conflicts. The courts at the time of appointing an arbitrator are also empowered to demand a full disclosure on conflicts.  Schedule 5 & 7 to the Ordinance contains an exhaustive list of grounds which will assist in determining all issues of conflict. Parties however are empowered to waive any objections of conflict by consent.
7. The Ordinance introduces a comprehensive fee structure for arbitrators. The High Courts are empowered to frame necessary rules in this regard keeping in mind Schedule 4 to the Ordinance, which contains a model fee structure. Fees range from Rs 45,000 to Rs 19,87,500 depending upon the quantum of the dispute. This does not apply to international commercial arbitrations and institutional arbitrations.
8. § 17 of the A&C Act has been amended to ensure that interim relief including that of injunction granted by an arbitrator will be effective and enforceable as an order of the court.
9. The Ordinance provides for time bound arbitrations. A tribunal is obligated to deliver the final award within a period of twelve (12) months. This period can be extended by the consent of parties for an additional six (6) months. Any further extensions will require court consent. The courts on being approached for an extension are empowered to reduce the fee payable to an arbitrator by up to 5% for each month of delay and can also substitute one or all the arbitrators.
10. A provision for fast track settlement of disputes is also provided, which requires the tribunal to make its award within a period of six (6) months. To incentivize quick adjudication, in cases where the tribunal decides a matter within a period of 6 months the Ordinance provides for an additional fee payable to the tribunal by the consent of the parties.
11. The Ordinance through § 31 A also introduces an expansive cost regime. Costs are not compulsory and are at the discretion of the tribunal. The new provision lays down various factors to be considered by the tribunal at the time of determining the quantum of costs these include the result of the case and the conduct of parties.
12. To ensure court restraint in setting aside domestic awards, the Ordinance restricts the meaning of public policy under the A&C Act.  The scope of public policy is to be limited to instances where:

1. making of an award was induced by fraud or corruption or;
2. where an award is in conflict with the fundamental policy of Indian Law or;
3. an award is in conflict with the most basic notions of morality or justice.

The amendment will neutralize judgments such as ONGC v Saw Pipes (2003) 5 SCC 705 and DDA v R.S. Sharma (2008) 3 SCC 80, which had expanded the scope of Indian public policy under the A&C Act. Similar amendments have also been introduced in § 48 and § 57 making the test of public policy a uniform one for domestic and international awards.

13. § 34 of the A&C Act has been further amended to ensure that a challenge to the award is disposed of by the courts within a period of one (1) year.
14. In National Aluminium Co. Ltd v Pressteel & Fabrications, (2004) 1 SCC 540 the Supreme Court had ruled that pending a § 34 challenge, there is an automatic stay on the operation of an arbitration award. The Ordinance amends § 36 to permit operation of an award pending challenge. The court under § 36(3) is empowered to stay the operation of the award on such terms and conditions as it deems fit. This could include taking a money deposit from the losing party.

SCOPE FOR CA’s IN ARBITRATION PROCEEDINGS 

Chartered accountants refer to skilled persons who can easily resolve company’s financial issues. Proficient chartered accountants aid in building a long lasting relationship with the clients of the company. Chartered accountancy is a profession that requires its members to continuously do better. To achieve this, CA's need to learn more, do more and adapt to changes around them. Regarding this we are providing a new edge to this profession to provide their services to a New Era of Legal Services i.e. Arbitration.

Professional accountants are crucial business advisors, helping protect the interests of stakeholders in every industry. Mainly these are the following function where chartered accountant can exercise their expertise:-

(1) Guidance in the process of undertaking settlement of Disputes at arbitral tribunal.

(2) To act as an expert/arbitrator for commercial disputes.

(3) Guidance to draft commercial trade agreements in consonance with the rules of arbitration.

(4) Guidance to draft a proper arbitration agreement considering the arbitration rules promulgated by arbitral tribunal

National Arbitral Tribunal offers a legally recognized form for settling disputes within 120 days and its awards(decision) are enforceable under Code of Civil Procedure Act,1908 in the same manner as if it were a decree of the Court. For that we have a panel of renowned arbitrators which includes the Former Judges Of Supreme Court, High Court and District Court.

NAT is arbitration centre to be established in Jodhpur to resort all commercial disputes. In order to release true and fair services, we will take help of knowledge and expertise of the professional like you as you are exposed to various commercial organisations.

Hence NAT is inviting you to join the Panel of Arbitrator of this institution & explore your knowledge.

We will be very thankful if you visit to know more about us. Please browse our website www.natindia.in for more information and email us at querry.nat@gmail.com  with your questions.

Knowledge makes difference- know more about arbitration

MYTHS & FACTS ABOUT ARBITRATION

“Pictures get blurred when we view from far they get clear only whn we go near.”

There are total 1075 {approx} acts in India out of these around 800 acts cases can be solved here, leaving cases of criminal acts and defence. Apart from this the parties approaching the tribunal even have the right to choose their arbitrator for case, the dates of proceeding and get their dispute resolved within 3 months. Even the party themselves can represent their case. The parties can maintain privacy of their cases.

Myths About Arbitration

Arbitration is assumed to be expensive law, with less relevance, as the parties approaching have freedom and meant only for certain class people.

Clearing The Myths

The reality is picture are blurred , knowledge makes difference, people are not aware about the act

• It’s not expensive law, actually  its less expensive than other proceedings in terms of cost, and time involved.
• Its not meant only for particular class people any one can use the tribunals to get their disputes resolved.
• It is not less effective, the judgement passed by the tribunal have same decree as those passed by other courts.
• The award are passed by former judges, so one cannot doubt on effectiveness of the judgement given.
• Disputes are resolved in less time as the act narrow down the scope for appealing which saves time and parties don’t have to wait for years for getting their dispute resolved.

Its act in which proceedings are flexible as per parties wish but have same strength, we can only take benefits from the act only when we have knowledge about it. Clear your doubts, take a step, save your time and enjoy the freedom of getting your dispute resolved in less time.

To know more contact Kanooni Suchna Kendra you can even mails us your queries.

Competence Of Arbitral Tribunal

We all have a blur image about who will decide on the competency of arbitrator on cases. Generally when cases come to arbitrator or arbitration institute the defense mainly raises the question on the competency of the arbitrator in deciding the matter. Section 16 of the Arbitration & Conciliation Act 1996 gives us answer for these most raised question. Arbitrator themselves have the right to decide on jurisdiction of the case.

Section 16 of Arbitration & Conciliation Act 1996 states that

• If parties even have arbitration clause in any agreement it would be treated as independent agreement and empowers tribunal to decide on it
• Even if any agreement is found to be null and void than also the arbitration clause in the agreement would be treated as valid agreement.
• Party can’t appeal on the jurisdiction of the tribunal after submitting the statement of defense at the same time we can’t Barr the party from raising such appeal as he had participated in the appointment of arbitrator or arbitration institute.
•   It’s only the arbitral tribunal which will decide whether they hold the jurisdiction to dispute or not in the case if any case comes to them for judgment.

 The main aim of arbitration & conciliation act 1996 was to provide hassle free litigation process, less ground for appealing. Section 16 is one of the section which empower it

3 Steps To Get Your Dispute Resolved At National Arbitral Tribunal

National Arbitral Tribunal is the place to get our dispute resolved in fast way. It’s just a 3 step process and parties get their dispute resolved within 4 months. Following process tell us how the case are being entertained in the arbitration tribunal

 1.Agreement – By Arbitration agreement National Arbitral Institute gets authority to commence an arbitration proceeding. There can be two cases:-  

                        

i). Future Dispute-  Parties can mention in the agreement through a clause or made a separate agreement that if they have any dispute they will refer to National Arbitral Tribunal. 

ii). Existing Agreement- Parties can come through mutual consent come to tribunal by making an agreement that they want their dispute to be resolved through National Arbitral Tribunal 

Even when the case is being going in any court, any of the party involved can file a application that they want to resolve their case through arbitration institute than the court will have to refer the case to arbitration institute. 

2. Proceeding- Once the case come to arbitration institute then commences the arbitration proceeding the claimant submits its statement of claim and respondent is given time to submit statement of defence. Each party is being given equal & reasonable opportunity to present their case. It’s a flexible process as the parties can demand time and date according to their preference. Even the parties involved can select the language in which they want to conduct their proceedings. The parties can themselves represent their cases or can appoint a lawyer or someone as arbitration lawyer to represent their case

3.Judgement/ Award- Final step is judgement or award by the arbitrator on the basis of claims and defense by the parties .The award are given in same manner as given by any civil court and are enforceable in the same way. Award is binding upon both parties. The best part of judgement given by arbitration tribunal is there is narrow scope of appealing against judgment/ award passed by arbitrator

       The main motto behind setting arbitration institute is to make proceeding fast, economic, confidential, flexible, the parties are given full opportunity to represent themselves in any language they want and the judgement passed are by the former judges of the court. We can conclude that it’s a law with many benefits. The only drawback with this law is unawareness among the masses, most have blurred picture of arbitration in their mind and we are not able to take advantage of arbitration institute.