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Amendments to the Arbitration and Conciliation Bill, 2015

Dated:- 27-8-2015 - The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for taking into consideration the Law Commission's recommendations, and suggestions received from stake holders. The Government of In .....

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bitrators, it is proposed to amend Section 12 to the effect that when a person is approached in connection with possible appointment of arbitrator, he shall disclose in writing about existence of any relationship or interest of any kind, which is lik .....

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of 12 months. Parties may extend such period up to six months. Thereafter, it can only be extended by the Court, on sufficient cause. The Court while extending the period may also order reduction of fees of arbitrator(s) not exceeding five percent fo .....

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It is proposed to insert a provision for fast track procedure for conducting arbitration. Parties to the dispute may agree that their dispute be resolved through fast track procedure. Award in such cases shall be given in six months period. (iv) Ame .....

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rruption, or it is in contravention with the fundamental policy of Indian Law or is in conflict with the most basic notions of morality or justice, the award shall be treated as against the Public Policy of India. (v) A new provision to provide that .....

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an only be stayed where the Court passed any specific order on an application filed by the party. (vii) A new sub-section in Section 11 to be added to the effect that an application for appointment of an Arbitrator shall be disposed of by the High Co .....

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rators as well as related litigation in Court. It will avoid frivolous and meritless litigation/arbitration. (ix) Section 17 is to be amended for empowering the Arbitral tribunal to grant all kinds of interim measures which the Court is empowered to .....

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