Arbitration Current Affairs, GK & News

Arbitration

An alternative dispute resolution mechanism provided by a stock exchange for resolving disputes between the trading members and their clients in respect of trades done on the exchange.

Rajya Sabha passes Arbitration and Conciliation (Amendment) Bill, 2021

The Parliament has passed the Arbitration and Conciliation (Amendment) Bill, 2021 after the Rajya Sabha cleared it on March 10, 2021. This bill was already passed in the Lok Sabha in February, 2021. Key Points The Arbitration and Conciliation (Amendment) Bill seeks to amend the Arbitration and Conciliation Act, 1996. The legislation comprises of the ..

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Arbitration and Conciliation (Amendment) Bill 2021

The Lok Sabha gave has passed the Arbitration and Conciliation (Amendment) Bill 2021. The bill was passed on February 12, 2021 by voice vote. Background The Law Minister Ravi Shankar Prasad introduced the bill in the Lok Sabha on February 4, 2021. The provisions of the bill were, however, already into force through an ordinance ..

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Draft Rules for International Arbitration Centre issued by GoI

On February 12, 2020, Government of India issued draft rules to set up International Arbitration Centre. In order achieve institutionalized arbitration, GoI has enacted the New Delhi International Arbitration act, 2019. Highlights The draft rules for the arbitration centre prescribe allowances, pay of the full-time members and the chairperson. The rules have also set minimum ..

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India signs United Nations Convention on International Settlement Agreements

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 ..

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Lok Sabha passes New Delhi International Arbitration Centre Bill

The Lok Sabha has passed the New Delhi International Arbitration Centre Bill to set up a revamped International Arbitration Centre at New Delhi with an aim to make India the hub of arbitration. New Delhi International Arbitration Centre Bill The features of the New Delhi International Arbitration Centre Bill are: The bill seeks to establish an independent ..

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