A CRITICAL ANALYSIS ON THE RIGHTS OF PARTIES FOR DISPUTE RESOLUTION THROUGH ARBITRATION

In dispute settlement where the rights of party to a arbitration is concerned, the Arbitration law is not absolute and which is controlled by the important mandatory provisions. However, the party autonomy principle is somewhere violating the principle of natural justice and public policy as well which are the fundamentals of the law of the land of particular country. Mainly all countries are having their Arbitration law of their own have recognized the party autonomy principle. The author would like to begin his research paper with brief history of Arbitration law in India and impact of UNCITRAL Model Law, 1985 to the Arbitration law and also the important provisions regarding Party Autonomy. In India, Arbitration has a long history as a method of dispute resolution. In ancient time, the people used to submit their disputes to a group of wise persons of their community i.e. called the panchayat and their decision was having a binding effect. The present law of arbitration is the effect of Bengal Regulations in 1772 passed during British period. The Bengal Regulation provided that the court to refer to the arbitration the matters concerning accounts, breach of contract and partnership deed with the consent of the parties. Till 1996, there were three statutes governing the law of arbitration in India- Whether the parties may agree on everything for Arbitration.What is the autonomy available to the parties during Arbitration proceedings? Whether there is any restriction on such autonomy or it is absolute. Whether principle of natural justice apply to the Arbitration proceeding. The Indian Arbitration Act, 1940, The Arbitration (Protocol and Convention) Act, 1937 and The Foreign Awards (Regulation and Enforcement) Act, 1961