There is scarcely any aspect of the Arbitration and Conciliation Act, 1996 (“Act”), which has not seen the spectre of ad nauseum arguments and judicial pronouncements. Concepts have been devised, lauded, followed, and then set aside. Lawyers have forcefully argued for awards to be set aside, and Courts have assiduously upheld the essence and spirit of the concept of arbitration. The law has been set, and then upturned, and in this entire process, not much judicial/ legislative light seems to have fallen on the protagonist of this piece. The Act only hints at what happens after an award is set aside, and the ‘hint’ paints a somewhat grim picture.
Continue Reading This Is the End: What Now? The Aftermath of an Award being Set Aside