International Arbitration Court Current Affairs, GK & News
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 ..
Category: Legal & Constitution Current Affairs
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 ..
Category: Economy & Banking Current Affairs
International Arbitration Court has imposed over $5 billion penalty on Pakistan for unlawful denial of a mining lease to a company called Tethyan Copper Company for Reko Diq project in 2011. This penalty on cash-strapped Pakistan is one of the biggest in its history. About Tethyan Copper Company v/s Pakistan Case In 2012 Tethyan Copper ..
Month: Current Affairs - July, 2019
Topics: Balochistan • International Arbitration Court • International Centre for Settlement of Investment Disputes • Pakistan • Penalty • Reko Diq • Reko Diq Mining case • Tethyan Copper Company • World Bank Group