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Section 43(1) of the Act provides:
A{'text': 'The Limitation Act, 1963 shall apply to arbitrations as it applies to proceedings in court', 'label': 'A'}
B{'text': 'The Indian Contract Act 1872 shall apply to arbitrations as it applies to proceedings in court under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'B'}
C{'text': 'The Code of Civil Procedure 1908 shall apply to arbitrations as it applies to proceedings in court under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'C'}
D{'text': 'The Indian Evidence Act 1872 shall apply to arbitrations as it applies to proceedings in court under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'D'}
Answer & Solution
Correct answer: A. {'text': 'The Limitation Act, 1963 shall apply to arbitrations as it applies to proceedings in court', 'label': 'A'}
1. Section 43(1) of the Act expressly imports the limitation regime.
2. "The Limitation Act, 1963 (36 of 1963), shall apply to arbitrations as it applies to proceedings in court."
3. Section 43(2) then deems an arbitration to have commenced on the date referred to in Section 21 (request for arbitration) for limitation-counting purposes.
4. The CPC and IEA are NOT mandatorily applicable to arbitral tribunals (see Section 19 — the tribunal is not bound by the CPC or IEA).
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 13 (Arbitration and Conciliation Act, 1996), pp. 314-333._
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