{"id":57006,"date":"2019-08-05T12:23:54","date_gmt":"2019-08-05T06:53:54","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=57006"},"modified":"2019-08-05T12:23:54","modified_gmt":"2019-08-05T06:53:54","slug":"as-lok-sabha-passes-arbitration-and-conciliation-amendment-bill","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/as-lok-sabha-passes-arbitration-and-conciliation-amendment-bill","title":{"rendered":"As Lok Sabha passes Arbitration and Conciliation (Amendment) Bill"},"content":{"rendered":"<p><strong>Lok Sabha has passed\u00a0Arbitration and Conciliation (Amendment) Bill, 2019 which is aimed at making India an international arbitration hub.<\/strong><\/p>\n<p>Bill has been already passed by Rajya Sabha, aims to establish an independent body called Arbitration Council of India (ACI) for promotion of arbitration, mediation, conciliation and other alternative dispute redressal mechanisms.<\/p>\n<p>ACI\u2019s functions would include framing policies for grading arbitral institutions and accrediting arbitrators, making policies for establishment, operation and maintenance of uniform professional standards for all alternate dispute redressal matters, and maintaining a depository of arbitral awards made in India and abroad.<\/p>\n<p>As per Section 43B of the Act, the Arbitration Council of India will have perpetual succession and a common seal, with power, subject to the provisions of the Act, to acquire, hold and dispose of property, both movable and immovable, and to enter into contract. It can sue or be sued.<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" data-attachment-id=\"57007\" data-permalink=\"https:\/\/www.legalindia.com\/news\/as-lok-sabha-passes-arbitration-and-conciliation-amendment-bill\/download-51\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?fit=300%2C168&amp;ssl=1\" data-orig-size=\"300,168\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"download (51)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?fit=300%2C168&amp;ssl=1\" class=\"alignleft size-full wp-image-57007\" src=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?resize=300%2C168&#038;ssl=1\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?w=300&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/download-51.jpg?resize=150%2C84&amp;ssl=1 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Government, in consultation with\u00a0Chief Justice of India, will appoint the chairperson of the ACI. Chairperson has to be a judge of the Supreme Court or Chief Justice of a High Court or a Judge of a HC\u00a0or an eminent person, having special knowledge and experience in the conduct or administration of arbitration.<\/p>\n<p>In the case of international commercial arbitration, appointments will be made by the institution designated by Supreme Court.<\/p>\n<p>In case of HCs&#8217;s\u00a0jurisdictions, where no graded arbitral institution is available, Chief Justice of the concerned high court may maintain a panel of arbitrators to discharge functions and duties. An application for appointment of an arbitrator is required to be disposed of within 30 days.<\/p>\n<p>For domestic arbitration, appointments will be made by the institution designated by the concerned High Court.<\/p>\n<p>Bill seeks to remove time restriction for international commercial arbitrations and states that the\u00a0tribunals must try to dispose of the international arbitration matters within 12 months.<\/p>\n<p><strong>Know Why is the Arbitration Bill important?<\/strong><\/p>\n<p><strong>1. Putting India on the world map in arbitration proceedings\u00a0<\/strong>&#8211; It aims to make India an international arbitration hub by providing facilities for settlement of commercial disputes.<\/p>\n<p>Law Minister Ravi Shankar Prasad stated that,\u201cIndia is qualified to have a centre of international arbitration as it has enough qualified lawyers, and has skill and training facilities. India should not accept imperialism in the field of arbitration. The best would be when Indian arbitrators are sought globally. We want India to become a hub of international arbitration.&#8221;<\/p>\n<p>It aims to make the arbitration of excellent quality, bestowing responsibility on the ACI to hold trainings, workshops, courses, frame policies, guidelines and update norms to ensure satisfactory level of arbitrations, arbitral institutions and the arbitrators.<\/p>\n<p><strong>2. To reduce burden on courts-\u00a0<\/strong>Presently, in case of any dispute with respect to appointment of Arbitrators, parties have to approach the Supreme Court or the High Court for appointment of Arbitrators or to resolve their dispute. With the huge backlog of cases, the courts are already overburdened. An effective ACI will share this burden of the court and even facilitate speedy appointment of arbitrators. This would further aid quick resolution of disputes outside the court.<\/p>\n<p><strong>3. To provide exhaustive list to choose an arbitrator-\u00a0<\/strong>The parties to an arbitration agreement can choose their own arbitrator, this choice is sacrosanct to arbitration process.<\/p>\n<p>Essence of choosing an arbitrator of choice is not circumscribed by nine broad qualification criteria as provided in the provisions of the bill. The list is broadly phrased and includes the choice of arbitrators from advocates, chartered accountant, cost accountant, company secretary, person with technical knowledge and experience etc.<\/p>\n<p><strong>4. To speed up arbitration process-<\/strong>\u00a0The bill provides for statement of claim and defence to be completed within six months from the date the arbitrator receives the notice of appointment. This will fasten the entire process of arbitration. Earlier, parties would take a lot of time to submit their pleas. Now the time can be efficiently used for arbitration proceedings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lok Sabha has passed\u00a0Arbitration and Conciliation (Amendment) Bill, 2019 which is aimed at making India an international arbitration hub. Bill has been already passed by Rajya Sabha, aims to establish an independent body called Arbitration Council of India (ACI) for promotion of arbitration, mediation, conciliation and other alternative dispute redressal mechanisms. ACI\u2019s functions would include [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57007,"comment_status":"open","ping_status":"closed","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":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[20124],"tags":[12621,36441,45233,1625],"class_list":["post-57006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-court-judiciary-legal-system","tag-amendment-bill","tag-arbitration","tag-arbitration-and-conciliation","tag-lok-sabha"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>As Lok Sabha passes Arbitration and Conciliation (Amendment) Bill - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"Lok Sabha has passed\u00a0Arbitration and Conciliation (Amendment) Bill, 2019 which is aimed at making India an international arbitration hub. 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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":61108,"url":"https:\/\/www.legalindia.com\/news\/arbitration-attempt-mandatory-after-failure-of-conciliation-under-msmed-act-supreme-court","url_meta":{"origin":57006,"position":1},"title":"Arbitration attempt mandatory after failure of conciliation under MSMED Act: Supreme Court","author":"Legal India Admin","date":"December 17, 2021","format":false,"excerpt":"The Supreme Court recently held that proceedings for conciliation and arbitration under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) cannot be clubbed (Jharkhand Urja Vikas Nigam Ltd v The State of Rajasthan and Ors). The Bench of Justices\u00a0Indira Banerjee\u00a0and\u00a0R Subhash Reddy\u00a0thus set aside an order passed\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":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/12\/Arbitration.jpg?fit=732%2C412&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/12\/Arbitration.jpg?fit=732%2C412&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/12\/Arbitration.jpg?fit=732%2C412&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/12\/Arbitration.jpg?fit=732%2C412&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":37124,"url":"https:\/\/www.legalindia.com\/news\/law-min-bats-for-speedy-disposal-of-commercial-disputes","url_meta":{"origin":57006,"position":2},"title":"Law Min bats for speedy disposal of commercial disputes","author":"Legal India Admin","date":"March 28, 2015","format":false,"excerpt":"Union Law and Justice Minister DV Sadananda Gowda on Friday emphasised on the need for a judicial system that ensures speedy disposal of commercial disputes, including through arbitration, to accelerate the economic growth and development. 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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":23025,"url":"https:\/\/www.legalindia.com\/news\/lok-sabha-passes-bill-to-protect-women-at-workplace","url_meta":{"origin":57006,"position":4},"title":"Lok Sabha passes bill to protect women at workplace","author":"Legal India Admin","date":"September 4, 2012","format":false,"excerpt":"Amidst an uproar, the Lok Sabha on Monday passed a major bill on protection of women against sexual harassment at workplace along with two other legislations without debate. The bill, pending before the house since 2010, had underwent drastic changes because of the pressure from women groups and critical review\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":45432,"url":"https:\/\/www.legalindia.com\/news\/courts-show-deference-towards-arbitral-awards-cji","url_meta":{"origin":57006,"position":5},"title":"Courts should show deference towards arbitral awards: CJI","author":"Legal India Admin","date":"October 24, 2016","format":false,"excerpt":"Admitting that there was a general perception about courts in India making undue interference in arbitration process, Chief Justice of India (CJI) T S Thakur on Sunday observed that courts should show deference towards arbitral adjudication. The CJI's remarks came during his presidential address at the valedictory session of a\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":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/10\/t-s-thakur.jpg?fit=790%2C444&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/10\/t-s-thakur.jpg?fit=790%2C444&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/10\/t-s-thakur.jpg?fit=790%2C444&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/10\/t-s-thakur.jpg?fit=790%2C444&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-ePs","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/57006","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=57006"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/57006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media\/57007"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=57006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=57006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=57006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}