New arbitration law

SAA_Bombay (Querist) 14 October 2016 This query is : Resolved
Dear Experts,
Our Hsg Society is in Arbitration with developer for some redevelopment issue from last 1 years almost. We want to bring this arbitration under new laws of arbitration. Please guide us what we need to do for same? Is it possible?
Thanks

Follow Query

Report Abuse

Guest (Expert) 14 October 2016
Can be possible only on modification of the original agreement and mutual acceptance by both the parties.

Kumar Doab (Expert) 14 October 2016
Are you referring to:

THE ARBITRATION AND CONCILIATION (AMENDMENT)
ACT, 2015
NO. 3 OF 2016
[31st December, 2015.]
An Act to amend the Arbitration and Conciliation Act, 1996.

http://www.indiacode.nic.in/acts-in-pdf/2016/201603.pdf

SAA_Bombay (Querist) 14 October 2016
Thank you sirs, but of course no developer will allow to make any modifications in agreement. Yes Mr. Doab I am referring to same act. but unable to understand that when law changes it get implied to all cases. than why our arbitration will work under old law.

Guest (Expert) 14 October 2016
Please be aware, the provisions of law that stands on the date of agreement have to be applied for the purpose of execution. Any change in law can become effective only if the agreement is revised according to the modified provisions. It is not a one way traffic. Both the parties should be ready to implement the change.

Anyway, you are welcome.

Rajendra K Goyal (Expert) 14 October 2016
Agree with the advice from expert P.S. Dhingra ji.

Devajyoti Barman (Expert) 14 October 2016
this IS NOT A NEW LAW BUT ONLY AMENDMENTS MADE IN THEE PRESENT ACT OF 1996 WHICH IS APPLICABLE TO EXISTING PROCEEDINGS IF INITIATED AFTER THE AMENDMENTS COME INTO EFFECT.
I am not sure what exactly are you looking for

Ms.Usha Kapoor (Expert) 15 October 2016
Agree with expert Mr.Dhingra Ji.

Rajendra K Goyal (Expert) 17 October 2016
Please state actually what you want to seek.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries