THE ARBITRATION AND CONCILIATION ACT OF 1996 AND 2019 OF INDIA- COMPARATIVE STUDY

Abstract

The settlement undertaken by panel of one or more persons in case of disputes is called arbitration and the panel called the arbitrators. These arbitrators are mutually selected by parties for the purpose of investigation and settlement of disputes. The law governing this was laid by introducing the Arbitration and Conciliation Act 1996. With time many questions were raised in reference to the adequacy of the act in quick settlement and the need for establishing of an Institutional arbitration hub in the country. To achieve these objectives later many amendments were proposed in 2015, 2018 and 2019. This paper explores the amendments proposed in the act to check the appropriateness of the same. Further expert’s opinion on the act and their perception on the amendments have been undertaken and the pitfalls highlighted. Comparison between the Singapore Arbitration Act and Indian Arbitration act has been undertaken to understand the key features necessary to establish an institutional arbitration hub in the country. Finally, the study proposes a few recommendations on the basis of the expert opinion to be furnished in the act to make it holistic and acceptable.

Key Words: Arbitration, Conciliation, UNICITRAL model Law, Amendments, Singapore Act, Arbitration Council of India