The Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') is an important piece of statutory legislation governing arbitration and conciliation proceedings in India and providing a framework for the resolution of disputes outside the courts in a time-bound manner. The Act enacted in 1996 was subsequently amended and particularly in the years 2015, 2019 and 2021 for making the law more effective in terms of time, cost and minimal judicial intervention.
