The Government of India is seeking public input on the Draft Arbitration and Conciliation (Amendment) Bill, 2024, as part of ongoing efforts to enhance the dispute resolution framework in the country. This initiative aims to promote ease of doing business and improve contract enforcement through legislative amendments to the Arbitration and Conciliation Act of 1996. The proposed amendments focus on bolstering institutional arbitration, minimizing court involvement in arbitration processes, and ensuring timely resolutions. The Department of Legal Affairs has prepared a tabular statement outlining existing provisions and proposed changes. Stakeholders and the general public are encouraged to submit their comments and feedback via email by November 3, 2024, to foster comprehensive public consultation on the draft bill.
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INVITING COMMENTS ON THE DRAFT ARBITRATION AND CONCILIATION (AMENDMENT) BILL, 2024
The Government of India has taken several steps to strengthen the dispute resolution environment in the country and to promote Ease of Doing Business and enforcement of contracts inter-alia through legislative interventions from time to time. The Department of Legal Affairs is presently in the process of considering further amendments in the Arbitration and Conciliation Act 1996.
2. The aim and purpose is to provide further boost to institutional arbitration, reduce court intervention in arbitrations and ensuring timely conclusion of arbitration proceedings.
3. In view thereof, the Arbitration and Conciliation (Amendment) Bill, 2024 and a tabular statement depicting existing provision and proposed amendment have been prepared.
4. The Department, now invites comments/feedback from the public as part of the public consultation exercise on the draft amendments. Comments on the draft Bill may be sent by email on [email protected] and [email protected] latest by 03.11.2024.
