The Arbitration and Conciliation Act 1996 is an Act of India that regulates arbitration India. In an attempt to make Arbitration a preferred mode of settlement of commercial disputes and making India a hub of international commercial arbitration, the President of India on 23 October 2015 promulgated an Ordinance (Arbitration and Conciliation (Amendment) Ordinance, 2015) amending the Arbitration and Conciliation Act, 1996. Indian Government in has been making several reforms in the area and recently the parliament of India moved an amendment to the Arbitration Act, 1996 by way of passing Arbitration and Conciliation (Amendment), Act 2019.
Whereas under the 1996 Act, parties were free to appoint arbitrators and whenever there was a disagreement on an appointment, the parties were to request the Supreme Court of India, or the concerned High Court to appoint an arbitrator. But under the amended Act of 2019, the Supreme Court and High Courts now may designate institutions of arbitration, whom the contractual parties can approach seeking the appointment of arbitrator/s. Even for international arbitration, appointments are to be made by the institution which is designated by the Supreme Court and for domestic arbitration, appointments will be made by those institutions which have been designated by the concerned High Court. However, in those cases where there are no arbitral institutions available, the Chief Justice of the concerned High Court may maintain a panel of arbitrators to perform the functions of the arbitral institutions. The act also mandates that an application for appointment of an arbitrator is required to be disposed of within 30 days.
We provide support as Arbitration Lawyers before all the Arbitral Tribunals having seats in various jurisdictions/places, and work with various institutions. Costly, lengthy and tedious business disputes affect the growth potential and business projections in India. In view of the fact that in India Contract Enforcement before Civil Court has become arduous, more and more corporates and individuals are turning to Arbitration as a mode of Alternative Dispute Resolution, to achieve timely and cost-effective results. Our team of skilled arbitration lawyers provide their services in various industry sectors of all sizes and work under diverse laws and before various dedicated arbitration centres.
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