India has signed a key United Nations Convention on International Settlement Agreements to boost the confidence of the investors and to send a positive signal to foreign investors about India’s commitment to adhere to international practice on Alternative Dispute Resolution (ADR). United Nations Convention on International Settlement Agreements The United Nations General Assembly had adopted the ..
Arbitration: GK, Current Affairs, Questions, Trivia and News
NITI Aayog has organised Workshop on ‘Best Practices in International Arbitration’ in collaboration with ICC International Court of Arbitration in New Delhi on 10 October 2018. It purpose is to strengthen dispute resolution mechanisms and to not only encourage ‘Make in India’ but also to ‘Resolve in India’. The workshop would cover basic concepts of ..
Investor-State Dispute Settlement mechanism is a system which allows individual companies to sue countries for their discriminatory practices. The practice came to light through the Philip Morris v. Uruguay Case under WTO. It is an instrument of public international law whose provisions are defined by a number of bilateral investment treaties. ISDS is also associated ..
The Union Cabinet approved the Arbitration and Conciliation (Amendment) Bill 2018 to be put before the Parliament in order to amend the 1996 Act. It is a part of the efforts of the Government to encourage institutional arbitration for settlement of disputes and make India a centre of robust Alternative Dispute Resolution (ADR) mechanism. The ..
The high level committee under the Chairmanship of Justice BN Srikrishna has recently submitted its on review of the Institutionalization of Arbitration Mechanism in India. The committee has recommended for setting up an Autonomous Body, Arbitration Promotion Council of India (APCI) having representatives from all stakeholders for grading arbitral institutions in India. The APCI may ..
In a notable development World Bank has taken cognizance of the growing development and has paused the processes initiated by both India and Pakistan in favour of alternate solutions which are in line with the spirit of Indus Water Treaty. The solutions offer alternative paths to resolve all the disagreements which fall under the Treaty ..
Lok Sabha passes grants of Rs. 25,707 Crore and Appropriation bill Lok Sabha passed the Supplementary demands for Grants of Rs. 25,707 Crore and the relevant Appropriation bill by a voice vote As per the Finance Minister Pranab Mukherjee, supplementary grants needed because of the augmented expenditure on the various counts MPLAD schemes besides the hike ..