Arbitration is the need of the hour, at present era no business Entity seems to indulge in necessary/unnecessary Litigation activity. Any agreement within which party enters into becomes the essence of their business performance and execution. The role of Arbitration starts when there is dispute/conflict in the business. The arbitration clause in the agreement plays a vital role in the entire scenario. The arbitration and conciliation act, 1996 provide free hands to the party to appoint their arbitrator which is less time consuming as compared to court litigation activity.
In present time arbitration is been used as a tool for all contractual sphere. Some common practise area of arbitration in Bihar is seen in the fields of;
1. Land Lords – Builder development agreement 2. Builder – Buyer development agreement. 3. Private Party – Government body agreement 4. Private Party - Patna Electricity Supply Unit (PESU) 5. Private Party – Bihar State Transportation department.etc.
It is seen that the tool of arbitration has increased in the business activity in State of Bihar in the last decade.
Saurabh Bishwambhar, Managing Partner of Yugantar Legals has represented numerous International Commercial Arbitration, National Arbitration (within different States of India) for various business groups;Some of the experience of Mr. Saurabh Bishwambhar includes field of;
- Conduct of Arbitration proceeding against Bharat Petroleum and corporation limited ( A Maharatna CPSE’s) - Proceeding against Oil and Natural Gas Corporation Limited (A Maharatna CPSE’s) - Proceeding Against Power Grid Corporation of India Limited (A Maharatna CPSE’s) - Proceeding against Rashtriya Ispat Nigam Limited (A Navratna CPSE’s) - Proceeding against Bharat Cooking Coal Limited (A Miniratna CPSE’s) - Proceeding against Antrix corporation Limited (A Miniratna CPSE’s) - Numerous Private Arbitration Proceedings.
The Team of Yugantar Legals possesses practical experience for dealing in-
1. Appointment of Arbitrator 2. Challenging the appointment of Arbitrator 3. Conduct of Arbitral Proceeding 4. Enforcing the Arbitral Award 5. Provisions in case of Insolvency 6. Dispute as to Arbitrator Fee 7. Setting aside Arbitral Award.
Team Yugantar is one stop place for all sorts of Arbitration activity in the business world.