An Arbitration is a part of the Alternative Dispute Resolution (ADR) mechanism and is a legal technique that aids the resolution of disputes outside the courts. Here, the parties to a dispute present their matter to a designated arbitrator(s) who – upon hearing all parties – delivers a decision which the parties duly abide by.
So, an Arbitration is a perfectly legal remedy to seek.
Previous statutory provisions on arbitration were contained in three different enactments, namely, the Arbitration Act, 1940, the Arbitration (Protocol and Convention) Act, 1937 and the Foreign Awards (Recognition and Enforcement) Act, 1961. The Arbitration and Conciliation Act 1996 has repealed the Arbitration Act, 1940 and the Acts of 1937 and 1961.
