Are The Amendments Made In The Arbitration And Conciliation?

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Statement of the problem: The proposed study is motivated by the numerous apprehensions being raised from many quarters1 over the amendment of 2015 to the Arbitration and Conciliation Act 1996. Whereas the stated objects of the Amendments are inter-alia building a fair and efficient Arbitration and Conciliation mechanism in the country, yet in view of the stated concerns, it is of vital importance, to probe the outcomes and examine the development associated with the Amendment. Research Questions Although the amendment of 2015 to the Arbitration and Conciliation Act 1996 has been largely aimed at building confidence of investors who had a guarded approach towards Indian shores, when it comes to investments. Soon after the amendments of …show more content…

The Amendment, perhaps being all encompassing step, is also being criticised as another patchy piece of legislation, which lacks fastidiousness on several counts. Some of these are as stated below: A. Section 2(2) Post the SC decision in Bharat Aluminium v. Kaiser Aluminium3, the courts in India had no interventional jurisdiction in arbitrations that are seated outside India. The Amendment inserted section 2(2) which provides for intervention of Indian courts, even if the place of arbitration is outside the Indian territory. This provision applies to international commercial arbitrations seated outside India, but is this defence also available to cases where both the parties are from within India and have chosen to arbitrate in a country other than India. This question is like to increase the intervention of courts. B. Section 9 The amendments in section 9 providing that the arbitral proceedings must be initiated within 90 days from the grant of interim relief or within such period as may be determined by the court. In this context, it was suggested by the LCI, to provide for automatic lapse of such reliefs granted by the courts after the expiry of time granted for commencement of the Arbitral proceeding. The intention of LCI in making this suggestion was to build a sense of apprehension of forgoing the protection granted to the parties through interim reliefs. However, this

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