Under the Arbitration and Conciliation Act, 1996, the parties to the arbitration agreement are responsible for appointing the arbitrators.

According to the Arbitration and Conciliation Act, 1996, the maximum number of arbitrators that can be appointed in an arbitration proceeding is three.

Under the Arbitration and Conciliation Act, 1996, an arbitrator must be a legal practitioner, have experience in the subject matter of the dispute, and be independent and impartial.

The Arbitration Tribunal is responsible for hearing and determining the dispute between the parties, making a binding award on the parties, and enforcing the award made by the Tribunal.

Under the Arbitration and Conciliation Act, 1996, the Arbitration Tribunal is required to make its award within 12 months from the date of commencement of the arbitration.

Under the Arbitration and Conciliation Act, 1996, an arbitration award can be challenged on the grounds of fraud or corruption, violation of public policy, or mistake of law or fact.

Under the Arbitration and Conciliation Act, 1996, a party can challenge an arbitration award by filing a petition in the High Court within 30 days from the date of receipt of the award.

Under the Arbitration and Conciliation Act, 1996, an arbitration award is final and binding on the parties, can be enforced by the courts, and can be set aside by the courts on certain grounds.

Under the Arbitration and Conciliation Act, 1996, the Supreme Court has the power to hear appeals from the High Court's decisions on arbitration matters, grant special leave to appeal from the High Court's decisions on arbitration matters, and review arbitration awards on its own motion.

Arbitration offers several advantages over litigation, including speed, cost-effectiveness, confidentiality, and flexibility.

Arbitration also has some disadvantages, such as the lack of formality, the limited right to appeal, and the potential for unenforceability in certain jurisdictions.

Recent developments in arbitration law in India include the Arbitration and Conciliation (Amendment) Act, 2015, the Supreme Court's decision in the Ssangyong Engineering & Construction Co. Ltd. v. National Highways Authority of India case, and the establishment of the Arbitration and Conciliation Centre of India (ACCI).

Arbitration in India faces several challenges, including the lack of awareness about arbitration among the general public, the high cost of arbitration, and the lack of qualified arbitrators.

The future prospects of arbitration in India are positive, with the expectation of increased popularity, government support, and judicial support.