Explain the arbitration and conciliation act 1996 with latest amendments.
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The asset fight among family and companies are one of the most common disputes not only in our country but in all the countries in the world. In India, the arbitration and conciliation act of 1996 is modified with mediation and appeasement bill by the president of India in 2015. After this bill is passed, the arbitration proceedings are made cost-effective and a friendly process. The district court or high court or supreme court according to the nature of assets, the court has to issue the judgment within a time period.
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