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Arbitration is one of the methods of dispute resolution mechanisms where disputes are resolved outside the formal court structure by persons appointed by the disputing parties. The person so appointed renders an order generally known as an award which is binding to the parties to the dispute. In other words, it is considered one of the alternative dispute resolution methods. The importance of any legal proceedings is not limited to the rendering judgment or award. Rather the crux of any proceeding depends on the recognition and enforcement of award as well. Arbitration as a process of dispute resolution mechanism depends on the competency of the process to render the award. The mere rendering of the award does not suffice the fundamental objectives of justice. Rather the recognition and enforcement of the award is the fundamental requirement to uphold the sanctity, effectiveness and efficiency of any arbitration proceeding. Against the backdrop, the paper aims to critically examine the existing legal provisions for the recognition and enforcement of awards as well as the judicial discourse is examined via the examination of the judgment of the Supreme Court’s recent trends in the recognition and enforcement of awards. Lastly, this paper presents the way out for the future but based on the best practices around the world.
Rajesh Bastola (Fri,) studied this question.