Amendment status not verified — confirm the current text below against the official source.
Definitions.—(1) In this Act, unless the context otherwise requires:- 2(a) “Arbitration Act” means the Arbitration Act, 1940 (No.10 of 1940) (repealed Act) or the Arbitration & Conciliation Act, 1996 (No.26 of 1996), whichever is applicable”; (b) “Bench” means a Bench of the Tribunal constituted under Section 9; 3[(c) “Chairman” means the Chairman appointed under Section 4;] 4[(d) “dispute’ means claim of ascertained or ascertainable money valued at Rupees 50,000 or more relating to any difference arising out of the execution or non-execution of a works contract or part thereof;] 5[(dd) “Judicial Member” means a Member possessing the qualifications prescribed under clause (i) or (ii) of sub-section (3) of Section 4;] (e) “member” means a member of the Tribunal appointed under Section 4; (f) “Party” shall include successors, executors, administrators or assignee; 6[(g) “Public Undertaking” means a Government Company within the meaning of clause (45) of Section 2 of the Companies Act, 2013 (No.18 of 2013) and includes a corporation or other statutory body by whatever name called in each case, wholly or substantially owned or controlled by the State Government;