Strengthening Institutional Arbitration: Indian Approach
Author: Prateeksha Singh, Student, Lloyd Law College, Greater Noida, India
Arbitration generally gives the idea to resolve the disputes by having a mutual negotiation without moving to the courts. This article highlights the Institutional arbitration and the amendments to the arbitration and Conciliation Act, 1996. The promotion and encouragement of India as a centre for arbitration has been one of the main purposes of the Indian lawmakers for some time now. The amendments to the Arbitration and Conciliation Act, 1996 mainly aimed at attaining the aim by facilitating speedy and effective resolutions of arguments through arbitration. It is widely known that ad-hoc arbitration is preferred in India. Although arbitral institutions are set up in India, ad-hoc arbitration still continues to be the preferred mode of arbitration. Against this, this article also makes an attempt to make understand why the arbitral institutions in India do not work effectively. This article also tells about the high-level committee set up in order to make the present arbitration more effective. The committee recommended certain measures to promote and strengthen institutional arbitration.
Keywords: Arbitration, Institutional Arbitration, Amendments, Arbitration, Conciliation Act
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