JUDGMENT

Misra, J.-Leave granted.

2. Heard learned counsel for the parties.

3. Since long, both the legislature through its enactment and the courts through its interpretation have been battling to cut short the traditional procedures in Courts to dispense quick justice by taking recourse through the arbitration proceedings. The laudable objectives and great expectations in spite of best efforts have never reached the desired results. To reach it, time and again comprehensive review of the Arbitration Act through amendments and re-enactment has been made. Every words of any statutes having stretchable meaning gives fertility to the Bar to interpret it such, as to suit the exigency of his client by finding loopholes in a statute in spite of the best attempt by the legislature to conclude the disputes at the earliest, by raising various objections thus frustrating its very objectives. It is here courts have to play an important role of taking recourse to such interpretation which subserve the objective and defeat any attempt to flout it.

4. Arbitration proceedings sprouts out of an agreement, understanding or consent of the contesting parties. It also lays down as to who shall arbiter ov