Has an Arbitration Council been constituted?
GS2Polity · Governance · IR· Bills, Acts & ordinances· Prelims + Mains·
Why in news
The Union government has not yet established the Arbitration Council of India (ACI) despite proposed amendments, while the draft Arbitration and Conciliation (Amendment) Bill, 2024
Background
The Arbitration Council of India (ACI) was envisioned as a central regulatory body to promote and advance institutional arbitration in India. The draft Arbitration and Conciliation (Amendment) Bill, 2024, aims to expand the role of arbitral institutions and limit judicial intervention.
Facts for Prelims
- BodyArbitration Council of India (ACI): A proposed central regulatory body for institutional arbitration.
- Act / BillArbitration and Conciliation (Amendment) Bill, 2024: Seeks to expand the role of arbitral institutions and limit judicial intervention.
For Mains
Q. Discuss the significance of establishing an independent Arbitration Council of India in enhancing the ease of doing business and reducing judicial pendency.
Dimensions to cover in your answer
- Regulatory autonomy: Concerns over government dominance affecting the impartiality of arbitral accreditation
- Judicial oversight: Balancing the limitation of judicial intervention with the need for legal recourse in arbitration
- Institutional capacity: Expanding the role of arbitral institutions to handle complex commercial disputes
Keywords: Institutional arbitration · Judicial intervention · Ease of doing business · Regulatory framework · Arbitration and Conciliation Act
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