Newly cleared Arbitration and Conciliation Bill to be put before Parliament

The Union Cabinet has cleared the Arbitration and Conciliation (Amendment) Bill 2018. It will now have to be put before Parliament.

The Bill is meant to encourage institutional arbitration and provide for a robust Alternative Dispute Resolution (ADR) mechanism in India.

It envisages the establishment of an independent body, called the Arbitration Council of India (ACI), which will accredit arbitrators and grade arbitrators.

The Bill also proposes to exclude International Arbitration from having to be concluded within a set time-frame.

The amendments proposed in the Bill are on the basis of the recommendations made by a High Level Committee under the chairmanship of Justice BH Srikrishna. It submitted a report to the Government on July 30, 2017.

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Saumya Snehal

Saumya Snehal is a 3rd year BBA LLB student at Chanakya National Law University. Always a bibliophile, she loves to read, research and write on anything and everything legal. She has a insatiable appetite for knowledge and explores the same through indulging in various internships so that to constantly grow and become a better version of herself. She especially has an interest in corporate law and social legislations.

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