Arbitration and Conciliation Act (India)

The Arbitration and Conciliation Act, 1996, in India, is a legal framework that provides processes for resolving disputes outside of traditional court systems. Arbitration involves a neutral third party making a binding decision, while conciliation focuses on helping the parties reach a mutual agreement. This Act aims to streamline dispute resolution, reduce court congestion, and offer quicker solutions. It applies to various sectors, enabling individuals and businesses to settle disagreements efficiently, enhancing the overall ease of doing business in India. The Act reflects India's commitment to alternative dispute resolution mechanisms.