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Section 8(2) of the Act requires that an application for reference to arbitration shall NOT be entertained unless it is accompanied by:
A{'text': 'A no-objection certificate issued by the Reserve Bank of India under any provision of any law in force in any State of India regardless of any other consideration of any kind under any law in force in any State of India', 'label': 'A'}
B{'text': 'The original arbitration agreement or a duly certified copy thereof', 'label': 'B'}
C{'text': 'A no-objection certificate issued by the Securities and Exchange Board of India under any provision of any law in force in any State of India regardless of any other consideration of any kind under any law in force in any State of India', 'label': 'C'}
D{'text': 'A no-objection certificate issued by the Ministry of External Affairs of the Government of India under any provision of any law in force in any State of India regardless of any other consideration', 'label': 'D'}
Answer & Solution
Correct answer: B. {'text': 'The original arbitration agreement or a duly certified copy thereof', 'label': 'B'}
1. Section 8(2) of the Act states the documentary requirement.
2. The application under Section 8(1) **shall not be entertained unless it is accompanied by the original arbitration agreement or a duly certified copy thereof**.
3. Where the original is retained by the other party, the applicant may file a copy and petition the Court to call upon the other party to produce the original.
4. The other documents are not statutory requirements under section 8.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 13 (Arbitration and Conciliation Act, 1996), pp. 297-303._
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