"I realise that some of my criticisms may be mistaken; but to refuse to criticize judgements for fear of being mistaken is to abandon criticism altogether... If any of my criticisms are found to be correct, the cause is served; and if any are found to be incorrect the very process of finding out my mistakes must lead to the discovery of the right reasons, or better reasons than I have been able to give, and the cause is served just as well."

-Mr. HM Seervai, Preface to the 1st ed., Constitutional Law of India.

Thursday, April 8, 2010

Law Ministry on Amendments to the Arbitration & Conciliation Act, 1996

The previous post in this blog noted that a consultation paper would be released today by the Ministry of Law and Justice on amendments to the Arbitration and Conciliation Act, 1996. A PIB (Press Information Bureau) press release indicated that the amendments would be on the following areas:

  1. Section 2 (2) – Scope of application of Part I of the Act
  2. Section 11-  Appointment of Arbitrators
  3. Section 12- Disclosure by Arbitrator regarding any  interest in the matter
  4. Section 28 (3)- Taking into account terms of the agreement and trade usage
  5. Section 31 (7) –Rate of interest
  6. Section 34- providing meaning of “public policy of India” and for harmonising  it with Sections 13 and 16
  7. Section 36- Enforcement of arbitral award
  8. Insertion of provisions for implied arbitration agreement in commercial contract of high consideration value. 
We'll post the consultation paper as soon as it is released.
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