The Arbitration and Conciliation Act (1996)
The Arbitration and Conciliation (Amendment) Act of 2019 modifies and consolidates laws governing domestic and international arbitration in India. It includes provisions for arbitration agreements, the composition of arbitral tribunals, jurisdiction, and recourse against arbitral awards. The Act stipulates the enforcement of foreign awards governed by conventions established in New York and Geneva. Key updates emphasize the importance of impartiality in arbitrators, define timelines for awards, and prioritize judicial intervention only where necessary. Furthermore, it delineates the roles and responsibilities concerning conciliation processes, ensuring that disputes can be amicably resolved while safeguarding parties’ rights.
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