Skip to content

CS Professional · Arbitration, Mediation and Conciliation · Arbitration under Investors' Grievances Redressal Mechanism of Stock Exchanges

Under a fast track agreement, the sole arbitrator in a broker-client dispute entered upon the reference on 1 March. No award has been made by 1 October of the same year. What is the consequence under section 29B?

The six-month period for a fast track award, counted from when the tribunal entered upon the reference, ended on 1 September. Because no award was made, sub-sections (3) to (9) of section 29A apply to the proceedings. The proceedings do not simply lapse.

  1. AThe proceedings terminate automatically and the agreement lapses
  2. BThe award period of six months has expired, and sub-sections (3) to (9) of section 29A apply to the proceedingsCorrect
  3. CThe tribunal may continue indefinitely without any consequence
  4. DThe parties must restart with a new arbitrator under section 13

Explanation

Section 29B(4) requires the award within six months from the date the tribunal enters upon the reference, so the period ended on 1 September. Under 29B(5), if it is missed, sub-sections (3) to (9) of section 29A apply. The proceedings do not lapse automatically, and section 13 concerns challenges, not delay.

Did you get it right without looking?

One question tells you little. A timed set on Arbitration under Investors' Grievances Redressal Mechanism of Stock Exchanges shows your real accuracy, how long you take and where you lose marks.

Practise Arbitration under Investors' Grievances Redressal Mechanism of Stock ExchangesFree diagnostic mock

More Arbitration under Investors' Grievances Redressal Mechanism of Stock Exchanges questions