The Features of The Arbitration and Conciliation Act,1996

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The arbitration and conciliation act 1996 understood that party autonomy is sacrosanct and the same ought to be taken care of by the statute, and for a statute and its branches to be impartial, fair and independent, is an indivisible part of a successful statute, that in its ways can uphold the law of the land and in the same way can be beneficial to the people of the same land. The arbitration act aims at achieving quickness in terms of reaching the finality of the arbitral proceedings and in terms of passing quick arbitral awards that are efficacious, but do not waste expenditure.

The will of the parties to an instance of arbitration would always prevail, subject to sections 8 and 9 of the arbitration act, and the parties by way of procedure should be treated equally, with absolutely no room for playing favourites. The arbitration act further aims to promote that the room for procedural laws are zilch before an Arbitral Tribunal. In case a challenge in regard to the jurisdiction of an arbitral tribunal does not succeed, then the arbitration would end only after reaching its finality that is when the arbitral award would be passed.