Deposits
Section 38 of the Arbitration & Conciliation Act 1996 deals with deposits. The arbitral tribunal may fix the amount of the deposit or supplementary deposit, as the case may be, as an advance for the costs referred to in sub-section (8) of section 31, which it expects will be incurred in respect of the claim submitted to it: 1.
(1) The arbitral tribunal may fix the amount of the deposit or supplementary deposit, as the case may be, as an advance for the costs referred to in sub-section (8) of section 31, which it expects will be incurred in respect of the claim submitted to it: 1. Ins. by Act 3 of 2016, s. 18 (w.e.f. 23-10-2015). 2. Subs. by s. 19, ibid., for section 36 (w.e.f. 23-10-2015). 3. Subs. by s. 20, ibid., for clauses (a) and (b) (w.e.f. 23-10-2015).
Provided that where, apart from the claim, a counter-claim has been submitted to the arbitral tribunal, it may fix separate amount of deposit for the claim and counter-claim.
(2) The deposit referred to in sub-section (1) shall be payable in equal shares by the parties:
Provided that where one party fails to pay his share of the deposit, the other party may pay that share:
Provided further that where the other party also does not pay the aforesaid share in respect of the claim or the counter-claim, the arbitral tribunal may suspend or terminate the arbitral proceedings in respect of such claim or counter-claim, as the case may be.
(3) Upon termination of the arbitral proceedings, the arbitral tribunal shall render an accounting to the parties of the deposits received and shall return any unexpended balance to the party or parties, as the case may be.
Section 38, The Arbitration & Conciliation Act 1996 (Act 26 of 1996).
Cross-references
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Questions about Section 38
What does Section 38 of the Arbitration & Conciliation Act 1996 deal with?
Section 38 of the Arbitration & Conciliation Act 1996 is headed "Deposits". The arbitral tribunal may fix the amount of the deposit or supplementary deposit, as the case may be, as an advance for the costs referred to in sub-section (8) of section 31, which it expects will be incurred in respect of the claim submitted to it: 1.
How do I find court cases under Section 38 of the Arbitration & Conciliation Act 1996?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Arbitration & Conciliation Act 1996 38, section 38 Arbitration & Conciliation Act 1996, section 38 of the Arbitration & Conciliation Act 1996. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 38 of the Arbitration & Conciliation Act 1996, and has it changed?
Its own text turns on section 31 (Form and contents of arbitral award), so none of them can safely be read on its own.
When was the Arbitration & Conciliation Act 1996 enacted?
Arbitration & Conciliation Act 1996 was enacted in 1996 as Act 26 of 1996. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- 86. Repeal and saving13407 words
- 11. Appointment of arbitrators1361 words
- 31. Form and contents of arbitral award844 words
- 34. Application for setting aside arbitral award750 words
- 2. Definitions669 words
- 16. Competence of arbitral tribunal to rule on its jurisdiction589 words
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