Termination of proceedings:
Section – 32. (1) The arbitral proceedings shall be terminated by the final arbitral award or by an order of the arbitral tribunal under sub-section (2).
(2) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings where—
| (a) | the claimant withdraws his claim, unless the respondent objects to the order and the arbitral tribunal recognises a legitimate interest on his part in obtaining a final settlement of the dispute, | |
| (b) | the parties agree on the termination of the proceedings, or | |
| (c) | the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible. |
(3) Subject to section 33 and sub-section (4) of section 34, the mandate of the arbitral tribunal shall terminate with the termination of the arbitral proceedings.