{"id":21636,"date":"2012-07-10T13:14:55","date_gmt":"2012-07-10T07:44:55","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=21636"},"modified":"2012-07-10T13:14:55","modified_gmt":"2012-07-10T07:44:55","slug":"plea-for-amendments-to-arbitration-act","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/plea-for-amendments-to-arbitration-act","title":{"rendered":"Plea for amendments to Arbitration Act"},"content":{"rendered":"<p>Observing that arbitrators were charging <span style=\"color: #800000;text-decoration: underline\"><strong>&#8220;exorbitant&#8221; fee<\/strong><\/span> from parties in dispute,<span style=\"color: #800000;text-decoration: underline\"><strong> former Law Commission Chairman Justice A R Lakshmanan<\/strong><\/span> has said it was time the Centre steps in and brings about amendments to the Arbitration Act.<\/p>\n<p>\u00a0Arbitrators should not charge &#8220;exorbitant fees,&#8221; Lakshmanan, who is also the chief of Indian Court of Sports Arbitration, said delivering the keynote address in a seminar on <span style=\"color: #800000;text-decoration: underline\"><strong>&#8216;Road Ahead for Arbitration in India&#8217;<\/strong> <\/span>here yesterday.<\/p>\n<p>\u00a0<span style=\"text-decoration: underline\"><em>&#8220;I had an occasion to consider the amounts charged by the arbitrators as their remuneration and I had opined that it is time that the Central government steps in and brings about the amendments to the Arbitration Act, stipulating the rates of fees payable to the arbitrators..&#8221;<\/em><\/span><\/p>\n<p>He pointed out that a main reason for resorting to arbitration was to avoid undue delay in getting disputes settled in normal courts of law under Arbitration Act .<span style=\"text-decoration: underline\"><em> &#8220;But the experience has been that even the arbitration procedure has been made as much cumbersome and time consuming.&#8221;<\/em><\/span><\/p>\n<p>\u00a0Retired judges who become arbitrators <span style=\"color: #800000;text-decoration: underline\"><strong>&#8220;usually treat the arbitration proceedings in the same manner as traditional litigations&#8221;<\/strong><\/span> and they approach the arbitration with a similar mind set as for normal litigation, Lakshmanan said.<\/p>\n<p>\u00a0<span style=\"text-decoration: underline\"><em>&#8220;With the result, the awards invariably end up in courts increasing the timeframe for resolution of the disputes.&#8221;<\/em><\/span><\/p>\n<p>\u00a0As for suitability and qualification of the arbitrator for various cases, he said it would be better to choose an experienced person in the field of dispute. &#8220;He should not only be a specialist in the matter, but should also have adequate knowledge of law.&#8221;<\/p>\n<p>\u00a0He requested the <span style=\"color: #800000;text-decoration: underline\"><strong>Indian Council of Arbitrators<\/strong><\/span> (ICA) to consider his suggestion that arbitrators from Tamil Nadu be nominated for arbitration disputes arising out of \/within the territorial jurisdiction of Tamil Nadu.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Observing that arbitrators were charging &#8220;exorbitant&#8221; fee from parties in dispute, former Law Commission Chairman Justice A R Lakshmanan has said it was time the Centre steps in and brings about amendments to the Arbitration Act. \u00a0Arbitrators should not charge &#8220;exorbitant fees,&#8221; Lakshmanan, who is also the chief of Indian Court of Sports Arbitration, said [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[10165,10161,10157,10159,10160,10158,10164,10163,8828,10162,399],"class_list":["post-21636","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-amendments-in-arbitration-act","tag-an-alternative-of-bussiness-dispute-resolution","tag-arbitration-act","tag-arbitration-act-an-alternative-of-dispute-resolution","tag-arbitration-act-an-alternative-to-bussiness-dispute-resolution","tag-arbitration-act-an-alternative-to-judicial-remedy","tag-ica","tag-indian-council-of-arbitrators","tag-law-commission","tag-law-commission-chairman","tag-tamil-nadu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Plea for amendments to Arbitration Act - Legal News India - Supreme Court &amp; 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They said that the bill is a part of the efforts of the government to encourage institutional arbitration for settlement of disputes & make India a centre of\u2026","rel":"","context":"In &quot;Court, Judiciary &amp; Legal System&quot;","block_context":{"text":"Court, Judiciary &amp; Legal System","link":"https:\/\/www.legalindia.com\/news\/category\/court-judiciary-legal-system"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/download-41.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":57006,"url":"https:\/\/www.legalindia.com\/news\/as-lok-sabha-passes-arbitration-and-conciliation-amendment-bill","url_meta":{"origin":21636,"position":1},"title":"As Lok Sabha passes Arbitration and Conciliation (Amendment) Bill","author":"Legal India Admin","date":"August 5, 2019","format":false,"excerpt":"Lok Sabha has passed\u00a0Arbitration and Conciliation (Amendment) Bill, 2019 which is aimed at making India an international arbitration hub. 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If the counsel could prepare the claim in advance and present it\u2026","rel":"","context":"In &quot;Bar, Bench &amp; Firm News&quot;","block_context":{"text":"Bar, Bench &amp; Firm News","link":"https:\/\/www.legalindia.com\/news\/category\/bar-bench-firm-news"},"img":{"alt_text":"mudgal","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/04\/mudgal-300x200.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":44589,"url":"https:\/\/www.legalindia.com\/news\/prasad-seeks-indias-adequate-representation-international-arbitration","url_meta":{"origin":21636,"position":3},"title":"Prasad seeks India&#8217;s adequate representation in international arbitration","author":"Legal India News","date":"August 27, 2016","format":false,"excerpt":"As India seeks to develop into a hub of international arbitration, Law Minister Ravi Shankar Prasad today lamented that only a \"small fragment\" of members from the Indian judiciary are part of the international dispute resolution mechanism. Terming it as a \"sorry state of affairs\", he wondered why very less\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"Prasad seeks India's adequate representation in international arbitration","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/08\/Ravi-shankar-prashad.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":61302,"url":"https:\/\/www.legalindia.com\/news\/cji-dy-chandrachud-emphasises-need-for-providing-same-arbitration-space-to-everyone","url_meta":{"origin":21636,"position":4},"title":"CJI DY Chandrachud emphasises need for providing same arbitration space to everyone","author":"Legal India Admin","date":"February 17, 2023","format":false,"excerpt":"Chief Justice of India\u00a0DY Chandrachud\u00a0said that for moving away from the tag of being called an old boys\u2019 club, the arbitration space must provide same opportunity to everyone men or women. It was said by the Chief Justice while he was delivering a keynote address at the inaugural session of\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58790,"url":"https:\/\/www.legalindia.com\/news\/time-is-ripe-for-legislation-containing-compulsory-pre-litigation-mediation-cji-s-a-bobde","url_meta":{"origin":21636,"position":5},"title":"Time is ripe for legislation containing compulsory &#8216;pre-litigation mediation&#8217;: CJI S A Bobde","author":"Legal India Admin","date":"February 9, 2020","format":false,"excerpt":"Chief Justice of India S A Bobde on Saturday said the time is ripe to devise a comprehensive legislation which contains \"compulsory pre-litigation mediation\" that would ensure efficiency and reduce the time of pendency for parties as well as courts. Speaking at the 3rd edition of of an international conference\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/11\/CJI-Justice-Sharad-Arvind-Bobde.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-5CY","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=21636"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/21636\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=21636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=21636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=21636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}