9 months ago
India to Amend Arbitration Act for Emergency Arbitration
India is planning to change its arbitration law to make it faster and more modern.
The new rules will allow for emergency arbitration, which means people can get quick decisions in urgent cases.
It will also allow arbitration to happen online using video and audio.
This is the fourth change to the law since 1996.
The changes are meant to make India a better place for solving business disputes, similar to how Singapore does it.
However, a key body that needs to be set up for this to work, called the Arbitration Council of India, is not ready yet.
The Arbitration and Conciliation (Amendment) Bill will introduce emergency arbitration and electronic means for dispute resolution.
Emergency arbitration allows parties to seek immediate interim relief before an arbitral tribunal is formed.
The amendment will be the fourth change to the 1996 Arbitration & Conciliation Act.
The Arbitration Council of India (ACI) will govern the duties and powers of emergency arbitrators, but the ACI is not yet formed.
The changes aim to reduce court intervention, expedite dispute resolution, and bolster institutional arbitration in India.
- Who
- Indian Parliament, Union Law and Justice Ministry, Arbitration Council of India
- What
- Amendment to the Arbitration and Conciliation Act to include emergency arbitration and electronic means
- Where
- India
- When
- Winter session of Parliament, draft circulated in October 2024
- Why
- To expedite dispute resolution, reduce court intervention, and bolster institutional arbitration
Key facts
- Bill Name
- Arbitration and Conciliation (Amendment) Bill
- Session
- Winter session of Parliament
- Key Provisions
- Emergency arbitration and electronic, audio-video arbitration
- Current Act
- 1996 Arbitration & Conciliation Act
- Implementation Body
- Arbitration Council of India (ACI)
- ACI Status
- Not yet formed
- Committee Chair
- T.K. Viswanathan
- Draft Bill Circulation
- October 2024
Quotes
One of the people aware of the development
A person familiar with the development of the Arbitration and Conciliation (Amendment) Bill
“There has been a lot of work on emergency arbitration, like case analysis on major precedents.”
livemint.com
Mohammad Asad Saeed
A public policy expert at Presolv360, an online dispute resolution service provider
“From our point of view, the biggest catalyst for transformative evolution of ODR (online dispute resolution) has been the recognition and legitimization of technology-enabled dispute resolution mechanisms by courts across the country.”
livemint.com
Divya Swamy
Partner at D&Y Law Chambers
“The recognition of emergency arbitration in the 2024 draft bill expedites dispute resolution by ensuring that urgent interim relief is accessible within the arbitral framework itself, without being diverted into overburdened court processes.”
livemint.com
Sources
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