Under what circumstances the arbitral proceedings can be terminated ?
1. Final Arbitral award
2. Interim award
3. Where the arbitral tribunal issues an order for the termination
92.
1. Final Arbitral award
2. Interim award
3. Where the arbitral tribunal issues an order for the termination
1. Final Arbitral award
2. Interim award
3. Where the arbitral tribunal issues an order for the termination
The answer is: A
Explanation
The correct option is A: 1 and 3.
According to Section 32 of the Arbitration and Conciliation Act, 1996, the arbitral proceedings can be terminated in the following circumstances:
- When the final arbitral award is made by the arbitral tribunal, which decides the merits of the claims or counterclaims presented by the parties.
- When the parties agree to terminate the proceedings by mutual consent.
- When the arbitral tribunal issues an order for the termination of the proceedings, either because the claimant withdraws the claim, or because the continuation of the proceedings has become unnecessary or impossible.
An interim award is not a ground for termination of the arbitral proceedings, as it does not dispose of the entire dispute between the parties. An interim award is a provisional decision on a specific issue or claim that is subject to the final award. Therefore, option 2 is incorrect.