The Arbitration and Conciliation Act, 1996
4. Waiver of right to
object.
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 slating
that objection, within that period of time, shall be deemed to have waived his
right to so object.