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| Home / India News / 2003 / January / Amendment Of Arbitration And Conciliation Act |
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Amendment Of Arbitration And Conciliation Act
New Delhi: January 23, 2003 The Government is examining the recommendations of the Law Commission of India on the Arbitration and Conciliation Act, 1996, contained in its 176th report for a further amendment of the Act. In this connection, views of the chambers of commerce and other organizations, connected with the Arbitration Law and this mode of alternative dispute resolution intended to decongest courts, have been sought. Added to this, since the subject matter of arbitration falls under Entry 30 of List III of the Seventh Schedule to the Constitution of India, the Government has also sought the comments of all the State Governments before the amendment of the Arbitration and Conciliation Act, 1996 is taken up. The report of the Commission has also been made available on the Law Ministry's website www.lawmin.nic.in under What's New? After the proposed amendment of the Arbitration and Conciliation Act, 1996 is effected in the light of the experience of its working so far, comments of the States and views of the chambers of commerce collated, it will make our arbitration system time bound, efficient and cost-effective to meet the challenges of the emerging globalization of Indian economy by settling arbitral cases in a meaningful way. While no time frame for such amendment could be given, it would be done at the earliest. The Arbitration and Conciliation Act, 1996 consolidates the laws relating to arbitration in India and is based mainly on the United Nations Commission on International Trade Law (UNCITRAL) Model Law. Before this, India had the Arbitration (Protocol and Convention) Act, 1937, the Arbitration Act, 1940 and the Foreign Awards (Recognition and Enforcement) Act, 1961, which have since been subsumed by the 1996 Act. Earlier before enacting the Arbitration and Conciliation Act, 1996, the Indian courts had noted the wide spread abuse of arbitral processes and underlying the need for evolving an effective safeguard to arrest such abuse. The Public Accounts Committee of the Lok Sabha (House of the People) commented adversely on the working of the Arbitration Act, 1940 and the Supreme Court in Food Corporation of India Vs. Joginderpal (AIR 1981 SC 2075-77) observed that the Law of Arbitration must be 'simple, less technical and more responsive to the actual situation' , --- 'responsive to the cannons of justice and fair-play'. The Government of India recognizing the need for reform in the law relating to arbitration decided to act on the basis of UNCITRAL Model Law, which was designed for universal application. As a sequel to that the Arbitration and Conciliation Act, 1996 was enacted with the salient features that the intervention of courts was even more limited than that envisaged under the Model Law. The Arbitration and Conciliation, 1996 covers both domestic and international arbitration wherein at least one party is not an Indian national and also arbitrations where both parties are Indian nationals, respectively. Press Release by: PIB/MYS: NC: 22.1.2003 |
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