Time-bound arbitration: arbitral awards must be made within three months, with limited extensions and exceptional adjournments. Stock exchanges must adopt a byelaw requiring arbitral tribunals to make awards within three months from the date they enter upon the reference, deemed the date of the first hearing. The three month period may be extended up to three times by the Managing Director or relevant authority, or on application by a party or the tribunal. Any further adjournments are permissible only in exceptional, bonafide circumstances with reasons recorded in writing. Exchanges are instructed to implement this requirement immediately.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Time-bound arbitration: arbitral awards must be made within three months, with limited extensions and exceptional adjournments.
Stock exchanges must adopt a byelaw requiring arbitral tribunals to make awards within three months from the date they enter upon the reference, deemed the date of the first hearing. The three month period may be extended up to three times by the Managing Director or relevant authority, or on application by a party or the tribunal. Any further adjournments are permissible only in exceptional, bonafide circumstances with reasons recorded in writing. Exchanges are instructed to implement this requirement immediately.
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