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CS Professional · Arbitration, Mediation and Conciliation · Emerging Aspects: Fast Track and Virtual Arbitration

Anand Pharma Ltd and Vindhya Chemicals Ltd agreed in writing to fast track arbitration. The tribunal entered upon the reference on 1 March, and no award was made by 31 August of that year. Which statement is correct?

The award had to be made within six months from the date the tribunal entered upon the reference. On default, sub-sections (3) to (9) of section 29A apply to the proceedings, dealing with extension and its consequences, rather than the agreement lapsing automatically.

  1. AThe tribunal's mandate ends automatically and the agreement lapses
  2. BThe award must be made within six months from the date the tribunal enters upon the reference, failing which sub-sections (3) to (9) of section 29A applyCorrect
  3. CThe award must be made within twelve months, extendable by the parties' consent for another six
  4. DThe time limit does not apply because fast track proceedings are decided on documents alone

Explanation

Section 29B(4) fixes six months from the date the tribunal enters upon the reference. Under section 29B(5), if the award is not made in time, sub-sections (3) to (9) of section 29A apply, which deal with extension and consequences. The mandate does not simply lapse automatically, and the twelve-month period belongs to ordinary arbitration.

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