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CS Executive · Jurisprudence, Interpretation and General Laws · Law relating to Arbitration, Mediation and Conciliation

During arbitral proceedings, the parties settle their dispute and request the tribunal to record the settlement. The tribunal does not object. Under section 30 of the Arbitration and Conciliation Act, 1996, what follows?

The tribunal terminates the proceedings and records the settlement as an arbitral award on agreed terms. Under section 30(2), this happens on the parties' request if the tribunal does not object, and under section 30(4) the award has the same status and effect as any other arbitral award.

  1. AThe tribunal terminates the proceedings and records the settlement as an arbitral award on agreed termsCorrect
  2. BThe tribunal continues proceedings until a reasoned award on merits is made
  3. CThe settlement must be sent to a civil court to be recorded as a decree
  4. DThe tribunal records the settlement as an award with lesser status than a normal award

Explanation

Section 30(2) says that when parties settle, the tribunal shall terminate the proceedings and, if requested and not objected to, record the settlement as an award on agreed terms. Section 30(4) gives it the same status and effect as any other award, so the last option is wrong.

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