Arbitration and Conciliation (amendment) act, 2021:A Roadblock or the Road Ahead?
Arbitration is one of the alternatives for dispute resolution rather than going to court. The neutral adjudicator settles this process and his decision or award is final and binding upon the parties. Arbitration awards have limited rights of review and appeal. These alternative dispute resolutions are friendly in nature. It is time and cost-efficient, flexible,…