Expert Committee Submits Report on Reforms in Arbitration and Conciliation Act

Expert Committee Submits Report on Reforms in Arbitration and Conciliation Act

It was constituted to examine the working of the arbitration law in the country and recommend modifications

An expert committee set up by the Central Government on reforms in the Arbitration and Conciliation (A&C) Act, 1996 has submitted its report.

Led by former law secretary Dr T.K. Viswanathan, the 16-member expert panel was set up by the Ministry of Law and Justice in June 2023.

The committee includes Bahram Vakil, Co-Founder, AZB Partners; Additional Solicitor General N Venkatraman; Shardul Shroff, Founder and Executive Chairman, Shardul Amarchand Mangaldas; representatives from the Department of Economic Affairs, Niti Aayog, public industries, and senior legal counsels.

The Centre had also floated a consultation paper seeking recommendations on a framework of a model arbitration system that was efficient, effective, economical, and catered to the users’ requirements. It proposed a framework on the cost of arbitration and the fees charged by the arbitrators.

The committee was asked to suggest changes in the law to enhance the arbitration process by reducing court intervention and improving cost-effectiveness while ensuring timely resolution.

Instead of approaching the courts, under arbitration, the parties opt for private dispute resolution through arbitrators, whose decision is binding.

That apart, several petitions on the legality of decisions made under Section 11 of the A&C Act (including whether an individual ineligible to designate an arbitrator can do so), are being heard by a Constitution Bench of the Supreme Court. The arbitrators' appointment is outlined in Section 11. The matter has been pending before the top court for some time.

The apex court had earlier stated that once the committee’s final report was ready, it was to be submitted before 15 February to the bench and the advocates representing the parties.