News reports (here and here) suggest that a Bill containing amendments to the Arbitration and Conciliation Act, 1996 would be introduced in the month-long Winter Session of the Parliament. Recently, the Law Commission of India suggested several amendments to the said enactment. It is expected that the Bill will be substantially in line with the Law Commission's proposal, which are not altogether free from defects.
"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.