The arbitration awards rendered in arbitration proceedings commenced before the coming into force of the arbitration & Conciliation act, 1996

are to be callenged as per the provisions of the arbitration act, 1940 act only

are to be challenged as per the provisions of the 1996 act

are to be challenged as per the provisions of the arbitraion act, 1940 only unless otherwise agreed by the parties.

cannot be challenged since the 1940 act stands repealed on coming into force of the 1996 act