Deciding The Question Of Applicability: Arbitration Amendment Act, 2015

The last decade has seen a concerted effort by the Indian legislature, the executive and the judiciary to promote alternative dispute resolution in India. The Arbitration and Conciliation (Amendment) Act, 2015 ('Amending Act') marks an important milestone in the development of arbitration law in India. Some of the important changes brought about by the Amending Act are as follows:

• Makes arbitration more effective and time bound by introducing a time limit for delivering award and a fast track procedure for arbitration.
• Limits court interference by providing for no automatic stay on operation of awards when an application is filed under Section 34 to set aside the award.
• Limits the interpretation of public policy (one of the grounds for setting aside the award or challenging the enforcement of award, as the case may be), a term broadly interpreted by the courts under the unamended provisions.