Arbitration Act, 1940.

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Pratik Nitin Vyas (Querist)
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24 December 2009 Any Dispute between the partners should settled by Arbitration Act, 1940 why? What is the benefit in it? & the partners of the partnership firm or vice –versa cannot file the case in other courts or they have to depend on Arbitration Act, 1940 only?

Who are the judicial authorities in india & in which section it is provided that the following are the judicial authority? Because judicial authorities come under the constitution of India, 1949.

Please If Any Notes Or case laws .

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)
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26 December 2009 Dear Pratik,
Plz update the Act. At present Arbitration Act, 1940 has been repealed and new act The Arbitration and Conciliation Act, 1996 is in force.

There is no compulsion to go for arbitration. If you have agreed that in case of conflict you will go for arbitration, then only arbitration is applicable.

Go to india.gov.in and downloan the new arbitration and conciliation act, 1996.