The Government of India has taken several steps to strengthen the dispute resolution environment in the country and to promote Ease of Doing Business and enforcement of contracts inter-alia through legislative interventions from time to time. –
The Department of Legal Affairs is presently in the process of considering further amendments in the Arbitration and Conciliation Act 1996.
The aim and purpose is to provide further boost to institutional arbitration, reduce court intervention in arbitrations and ensuring timely conclusion of arbitration proceedings.
In view thereof, the Arbitration and Conciliation (Amendment) Bill, 2024 and a tabular statement depicting existing provision and proposed amendment have been prepared.
The Department, now invites comments/feedback from the public as part of the public consultation exercise on the draft amendments.
The draft Bill and tabular statement can be accessed at https://legalaffairs.gov.in/.
Comments on the draft Bill may be sent latest by 03.11.2024.
