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Under the powers of section 31 sub-section (2) of the India International Arbitration Centre Act, 2019, the India International Arbitration Centre, with the approval of the Central Government, made regulations to provide for the conduct of arbitration for micro and small enterprise.
These regulations called the India International Arbitration Centre (Conduct of Micro and Small Enterprises Arbitration) Regulations, 2024.
When a dispute is referred to the Centre by the MSEFC under sub- section (3) of section 18 of the Micro, Small and Medium Enterprises Development Act, 2006 Act, the arbitration is to be conducted and administered by the Centre in accordance with the provisions of the Arbitration Act and of these regulations.
On receipt of a reference, the Registrar shall issue a notice to the claimant to file a statement of claim under this regulation.
The claimant shall, submit a statement of claim within thirty days, by uploading it on the portal provided on the website of the Centre or by way of an e-mail, or by filing a physical copy thereof with the Centre with a copy to the other party to the arbitration
It will submit following details,
(a) a statement for the nature and circumstances of the dispute, the relief sought including the amount of any quantified claims and, to the extent possible with interest being claimed as per the MSMESAct, 2006 along with supporting documents;
(b) the full name and address, including telephone number, mobile number and e-mail address, of the parties to the arbitration and their representatives, if any;
(c) confirmation that copies of statement of claim and supporting documents, have been served on the parties, specifying the mode and date of service:
Provided that the thirty-day period for filing the statement of claim under this regulation may be extended by the Registrar on good and sufficient cause for a further period not exceeding fifteen days.
The respondent shall send to the claimant and to the Centre a statement of defence and counter-claim, if any, within thirty days of the receipt of the statement of claim, preferably by uploading it on the portal provided on the website of the Centre or by way of an e-mail, or by filing the physical copy with the Centre.
It shall contain the following:
(a) a confirmation or denial of all or part of the claims.
(b) the full name and address along with telephone number, mobile number and e-mail address of the respondent and its representatives, if any.
(c) a statement of the defence to the claim, and a statement describing the nature and circumstances of any counter-claims, specifying the relief claimed, including the amount of any quantified counter-claims and, to the extent possible, an estimate of the monetary value of any such counter-claims along with supporting documents;
(d) confirmation that copies of the statement of defense and counter claim, if any, and the documents relied on have been served on the claimant and other parties, if any, specifying the mode and the date of service:
Provided that the thirty day period for filing the statement of defence and counter claim, if any, under sub-regulation (1) may be extended by the Registrar on good and sufficient cause for a further period not exceeding fifteen days and in case, the statement of defence and counter claim, if any, is not filed by the respondent within the extended period, if any, the Respondent will not be granted any further extension.
(2) If the respondent fails to submit a statement of defence, the Arbitral Tribunal may proceed with the arbitration, on the basis of available documents.
(3) The contents of the statement of defence and counter claim, if any shall not prevent the respondent from subsequently adding, supplementing or amending its pleadings provide that the same are relevant to the dispute.
Appointment of arbitrator
A sole arbitrator shall be appointed by the Chairperson, from the panel of arbitrators maintained by the Centre after considering the advice of the advisory panel.
Fast track procedure.
Fast track procedure shall apply to all arbitrations conducted under these regulations except some exception.
The arbitral proceedings shall be conducted under fast track procedure as below:
the Arbitral Tribunal shall decide the dispute on the basis of written pleadings, documents and submissions filed by the parties.
An oral hearing may be held only if all the parties make a request or if the Arbitral Tribunal considers it necessary for clarifying certain issues.
The award under this regulation shall be made within a period of six months from the date of intimation by the Registrar to the parties, of the constitution of the Arbitral Tribunal.
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