The History and Development of Law of Arbitration in India

The settlement of disputes outside the court system was in existence from the Vedic Period. The Panchayat was entrusted with the duty of dispute resolution which occurred within the jurisdiction of the village. The role of Mediator also found during Vedic period in the name of Madyamasi. The Darmasutras also had a mention about the system without the court interference. The development of modern system of justice leads to the growth of new system of dispute settlement through Court System. The history of the Arbitration has been traced back to Vedic period. The existence of today’s system had a great foundation upon the system of dispute resolution as found in various periods. The prevalence of Arbitration s a binding mechanism is got recognised by way of statute. The Arbitration and Conciliation Act of 1996 also reveals the system of dispute resolution procedure. Later the Code of Civil Procedure has recognised the Arbitration system by way of Amendment. Based on the amendment the High Courts also framed the rules for conducting the Arbitration proceedings. The domestic law of India is drafted in compliance with the UNCITRAL Model law on International Commercial Arbitration to have uniformity of Arbitration procedure in the global level.