Union Government Constitutes Expert Committee For Reforms In Arbitration And Conciliation Act

The Ministry of Law & Justice has constituted a sixteen-member expert committee headed by Dr. T.K. Vishwanathan, Former Secretary of the Department of Legal Affairs, for examining the working of arbitration law in India and recommending reforms in the Arbitration and Conciliation Act, 1996. The committee is expected to submit its recommendations within 30 days from today. The step is being taken to limit the requirement for parties to seek judicial intervention by approaching courtThe composition of the Committee is as under:Dr. T.K. Vishwanathan - Former Secretary, Department of Legal Affairs as the Chairperson Following are the members: N. Venkatraman, ASGIGourub Banerji, Senior AdvocateA.K. Gangull, Senior AdvocateShardul Shroff,Partner, Shardul Amarchand MangaldassBahram Vakil, Partner, AZB PartnersSaurav Agarwal, AdvocateRepresentative of NITI AayogRepresentative of Enterprises/ CPSESRepresentative of Department of Confederation ofPublic Indian Industries (CIL)Representative of NHAI/MORTHRepresentative of Ministry of RailwaysRepresentative of Department of EconomicAffairsRepresentative of Ministry of Housing & UrbanAffairs/ CPWDRepresentative of Legislative DepartmentRajiv Mani, Additional Secretary, Department of Legal Affairs.The consolidated Terms of Reference for the working of the Expert Committee includes the following:Evaluate and analyse the operation of the extant arbitration ecosystem in the country, including the working of the Arbitration and Conciliation Act, 1996, highlighting its strengths, weaknesses and challenges vis-à-vis other important foreign jurisdictions.Recommend a framework of model arbitration system, which is efficient, effective, economical and caters to the requirements of the users.Devise strategy for developing a competitive environment in the arbitration services market for domestic and international parties that can sub-serve the interests of the users, particularly in building a regime of cost effective arbitration, through arbitration professionals.Propose measures to fast track enforcement of award by suggesting modification to existing provision relating to setting aside of award and appeal so as to lend finality to arbitral award, expeditiously.Recommend statutory means to minimise recourse to judicial authorities/ courts in arbitration centric dispute resolution mechanisms.Suggest administrative mechanism/ SOP for minimising routine challenge to arbitral award by the Government in disputes involving them.Recommend principles for determination of costs of arbitration.Recommend principles for determination of fees of arbitrators.Recommend a charter of duties for guidance of arbitral tribunal, parties and arbitral institutions.Examine the feasibility of enacting separate laws for domestic arbitration and international arbitration and for enforcement of certain foreign awards.

Union Government Constitutes Expert Committee For Reforms In Arbitration And Conciliation Act

Aiman J. Chishti

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Union Government Constitutes Expert Committee For Reforms In Arbitration And Conciliation Act

Aiman J. Chishti

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