Waiver of right to object :
Section – 4. A party who knows that—
| (a) | any provision of this Part from which the parties may derogate, or | |
| (b) | any requirement under the arbitration agreement, |
has not been complied with and yet proceeds with the arbitration without stating his objection to such non-compliance without undue delay or, if a time limit is provided for stating that objection, within that period of time, shall be deemed to have waived his right to so object.