Rendering India into an Arbitration Friendly Jurisdiction- Analysis of the Proposed Amendments to the Arbitration and Conciliation Act, 1996

Rendering India into an Arbitration Friendly Jurisdiction- Analysis of the Proposed Amendments to the Arbitration and Conciliation Act, 1996

Volume 3 Issue 4 ()

The Arbitration and Conciliation Act, 1996 was enacted by the Parliament with an objective to minimise intervention by courts in the process of arbitration. However, over a period of time the interpretation adopted by the higher judiciary to various provisions of the Act has been contrary to this objective. With a view to rectify this situation, the Ministry of Law and Justice released a Consultation Paper proposing amendments to the Arbitration and Conciliation Act, 1996. The present paper attempts to summarise and analyse the two most important amendments put forth by the Ministry, i.e. firstly, the application of Part I of the Act to international commercial arbitration, and secondly, appointment of arbitrators under §11 of the Act. It is argued by us that though the intention of the Ministry is to minimise judicial intervention and make arbitration an efficacious alternative remedy, the proposed amendments are not sufficient in rendering India an arbitration friendly jurisdiction. The paper also highlights a few other areas which need to be amended

Cite as: Vasudha Sharma & Pankhuri Agarwal, Rendering India into an Arbitration Friendly Jurisdiction- Analysis of the Proposed Amendments to the Arbitration and Conciliation Act, 1996, 3 NUJS L. Rev. 535 (2010)