Dharma Prathishthanam vs M/S. Madhok Construction Pvt. Ltd on 2 November, 2004
20. As held in the report published as Dharma Prathishthanam v. Madhok Construction Pvt. Ltd., arbitrator under the scheme of 1940 Act is not statutory. It is a forum chosen by the consent of the parties as an alternative to resolution of disputes by the ordinary forum of courts. 2 things are therefore of essence. Firstly the decision to have the disputes settled through medium of arbitration and secondly the reference of the dispute to the arbitrator. Consent at both stages has to emerge.