https://www.taxtmi.com/caselaws?id=108546 An arbitration clause referring to the Arbitration Act, 1940 or any statutory modification or re-enactment did not prevent the parties from being governed by the Arbitration and Conciliation Act, 1996 where the arbitrator was appointed after the 1996 Act came into force and both sides conducted the proceedings on that basis. The award was also made by reference to the 1996 Act, including the provision on future interest. Section 85(2) recognises that parties may agree to apply the new law to their arbitration. On these facts, the arbitral proceedings and the challenge to the award were governed by the 1996 Act, and the objection based on continued application of the 1940 Act failed. en-us Thu, 17 Apr 2003 00:00:00 +0530 Fri, 20 Nov 2015 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108546 An arbitration clause referring to the Arbitration Act, 1940 or any statutory modification or re-enactment did not prevent the parties from being governed by the Arbitration and Conciliation Act, 1996 where the arbitrator was appointed after the 1996 Act came into force and both sides conducted the proceedings on that basis. The award was also made by reference to the 1996 Act, including the provision on future interest. Section 85(2) recognises that parties may agree to apply the new law to their arbitration. On these facts, the arbitral proceedings and the challenge to the award were governed by the 1996 Act, and the objection based on continued application of the 1940 Act failed. Case-Laws Companies Law Thu, 17 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108546