Volume : 1, Issue : 5, October - 2012

Arbitration as a Method of Dispute Resolution in India

Dr. Navdeep Kour Sasan

Abstract :

As an alternative dispute resolution mechanism, the arbitration provides speedier settlement of commercial disputes, whether domestic or international in character. In the wake of globalization of trade and commerce and also for effective implementation of economic reforms in 1990s, a new Arbitration Law based upon the Model Arbitration Law formulated by the United Nations Commission on International Trade Law (UNCITRAL) was passed by the Indian Parliament repealing the earlier laws on the subject of arbitration. The Arbitration and Conciliation Act, 1996, besides giving statutory recognition to the conciliation, provides for the constitution of the arbitral tribunal to conduct the arbitral proceedings and making of the award in case of both the domestic and international commercial arbitrations. The award made by the arbitral tribunal is final and binding upon the parties and is enforceable as a decree of a Civil Court. An important question pertinent in this regard is whether the doctrine of res judicata as enshrined under the Code of Civil Procedure of 1908 is applicable to the final award of the arbitral tribunal, which is not under a strict compulsion to follow the strict procedure stipulated in the Code of Civil Procedure. This article is an endeavour to analyse the applicability of the rule of res judicata to the arbitration awards in India.