Expert Committee on Arbitration Law submitted its report to Union Ministry of Law & Justice | Current Affairs | Vision IAS
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    Table of Content

    Expert Committee on Arbitration Law submitted its report to Union Ministry of Law & Justice

    Posted 28 Feb 2024

    2 min read

    • Committee was set up in Jun 2023 to examine working of Arbitration Law in the country and recommend reforms to Arbitration & Conciliation (A&C) Act, 1996.

     

    • Arbitration: It is a quasi-judicial proceeding, wherein parties in dispute appoint an arbitrator by agreement to adjudicate the dispute. It is a type of Alternate Dispute Resolution (ADR).

     

    • Key recommendations of the committee
      • Separate Arbitration division in High Court (HCs): At least in select HCs and the Government may earmark separate funds for select HCs having heavy pendency of arbitration cases.
      • Legal framework: Separate laws for domestic arbitration and international arbitration in the long run.
        • Greater supervision by Courts is required given varied forms of domestic arbitration.
      • Diversity in Arbitral appointments: Arbitral Institutions must strive to empanel and appoint significantly more women arbitrators to arbitral panels.
      • Arbitration in SEZ and GIFT cities: Creation of an arbitration ecosystem in SEZs with speedy visa facilitation for international arbitrators.
      • Virtual arbitration and AI: Wait for and evaluate the effect of migration of arbitrations to virtual mode and assess further development in arbitration using AI.

    Alternate Dispute Resolution (ADR)

    • It is a method of settling disputes without formal litigation.
    • It includes various mechanisms such as arbitration, negotiation, mediation, conciliation, facilitated settlements, ombudsman, etc.
    • Tags :
    • Alternate Dispute Resolution
    • Arbitration & Conciliation (A&C) Act, 1996
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