Question

The present Arbitration and Conciliation Act of $1996$ is based on ______.

• A. Constitution of India
• B. Guidelines of Supreme Court of India
• C. European Commercial Arbitration Procedure
• D. UNCITRAL, $1985$

Answer 1

Answer: (D)

UNCITRAL, $1985$

The Arbitration and Conciliation Act, 1996 has repealed the Arbitration Act, 1940 and also the Acts of 1937 and 1961, consolidated and amended the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards and also defines the law relating to conciliation, providing matters connected therewith and incidental thereto on the basis of the Model Law on International Commercial Arbitration adopted by the United Nations Commission on International Trade Law (UNCITRAL) in 1985.