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Law Commission Report On Arbitration

Published on Thu, Aug 07,2014 | 18:53, Updated at Thu, Aug 07 at 21:12Source : Moneycontrol.com 

The Law Commission Of India was entrusted with the task of reviewing the provisions of the Arbitration and Conciliation Act, 1996 (‘the Act’) in view of the several inadequacies observed in the functioning of the Act.  The Commission had earlier recommended various amendments to the Act under its 176th Report on the ‘Arbitration and Conciliation (Amendment) Bill, 2001’. After considering the recommendations of the 176th Report, the Government decided to accept almost all such recommendations and accordingly, introduced the ‘Arbitration and Conciliation (Amendment) Bill, 2003’ in the Rajya Sabha on 22nd December, 2003. Subsequently, in the wake of the report of the Justice Saraf Committee the Bill was referred to the Department Related Standing Committee on Personnel, Public Grievances, Law and Justice for a further analysis. The Departmental Related Standing Committee was eventually of the view that many provisions in the Bill were insufficient and contentious and, therefore, the Bill in its present form should be withdrawn and be reintroduced after considering its recommendations. Accordingly, the Bill was withdrawn from the Rajya Sabha. In order to re-look into the provisions of the Act, the Ministry of Law and Justice issued a consultation paper on 08th April, 2010 inviting suggestions from eminent lawyers, judges, industry members, institutions and various other stakeholders. After receiving various responses to the Paper, the Ministry held several National Conferences across the country during July/August, 2010 inviting suggestions from lawyers, judges, industry, arbitration institutions and public at large. On the basis of such comments and suggestions received at the National Conferences, the Ministry prepared draft proposals and a Draft Note was prepared for the Cabinet. Thereafter, the Ministry asked the Commission to undertake a study of the amendments proposed to the Act in the ‘Draft Note for the Cabinet’. Accordingly, the Commission set up an expert Committee comprising of several eminent persons from the field of law to study the proposed amendments and make suggestions accordingly. Written responses were also received from various institutions like FICCI, CII and ASSOCHAM. After extensive deliberations and study, the Commission has now prepared the present Report. Chapter III of the present Report contains the proposed amendments. The Annexure to the Report contains the proposed amendments in track changes made in the present Act along with notes. For more please read the attached report by The Law Commission Of India.

Attachments : Amendments To The Arbitration & Conciliation Act .pdf
 
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