Insight To The Arbitration And Conciliation (Amendment) Act, 2019

Ever since the enactment of Arbitration and Conciliation Act 1996 ("Act"), Indian Legislature has been showing its intent to keep pace with the growing popularity of arbitration as preferred mode of dispute resolution in commercial matters. Two recent amendments in the Act bear testimony to India's commitment to make India conducive for international and domestic arbitrations.  The latest amendment of 2019, received the assent of the President of India on 9^th August, 2019, provides for important changes, crucial ones are discussed in this article.

Arbitration Council of India

•  The amendment act introduces regulatory mechanism in the field of arbitration and provides for adding Part IA (Section 43A to Section 43M) to the Act, which makes provision of constitution of Arbitration Council of India ("Council"). The Council shall take necessary measures to promote and encourage arbitration, mediation, conciliation and other alternative dispute resolution mechanism and