Section 35 Arbitration Act 1996 declares the AWARD as:
Answer & Solution
Correct answer: C.
1. Section 35 Arbitration and Conciliation Act 1996: 'Subject to this Part an arbitral award shall be FINAL AND BINDING on the parties and persons claiming under them respectively.'
2. The award is FINAL — no review on merits by the court.
3. The award is BINDING on the parties.
4. The only recourse is SETTING ASIDE under Section 34 on narrow grounds.
5. Section 36 provides for ENFORCEMENT of the award as a decree of the court (after expiry of time for setting aside or rejection of application).
6. Hence option B is correct.
_Source: Arbitration and Conciliation Act 1996 (Bare Act) + Mediation Act 2023 — Arbitration and Conciliation Act 1996, Section 35_
Related questions
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