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Arbitration and Conciliation Act -1996 Amendment
February 18 , 2020
1734 days
897
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- The union government has amended the Arbitration and Conciliation Act, 1996 by the Arbitration and Conciliation (Amendment) Act, 2015.
- It aims to make the arbitration process smooth, cost efficient, speedy execution of the case and ensure the mediation of the arbitrator.
- This amendment provides for the creation of an independent institution Arbitration Council of India.
- It allows appointment of arbitrators by “arbitral institutions” designated by the Supreme Court/High Court rather than Supreme Court or a high court themselves.
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