Question : Arbitration matter

(a) whether arbitration is an increasingly preferred mode of dispute resolution in the country and if so, the details thereof;

(b) the details of number of arbitration-matters in the country during the last five years, State-wise;

(c) whether the Government is planning to introduce any changes in the arbitration laws of the country and if so, details thereof and the reasons therefor; and

(d) whether any initiatives have been taken up to invite stakeholders to the New Delhi International Arbitration Centre and if so, the details thereof?

MINISTER OF LAW AND JUSTICE, COMMUNICATIONS AND ELECTRONICS & INFORMATION TECHNOLOGY

(SHRI RAVI SHANKAR PRASAD)

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(a) Yes sir, arbitration is being increasingly preferred by the parties for resolution of their disputes. To keep pace with international trends and to promote arbitration as a preferred mode of dispute resolution in the country, the Arbitration and Conciliation Act, 1996 has been amended in 2015 and 2019.

(b) The majority of arbitration conducted in India between the parties currently is by way of ad hoc arbitration and few by way of institutional arbitration. Moreover, due to lack of uniformity in arbitration process the compilation of any such data of arbitration matters isnot possible. However, in order to address the issue of non-availability of data in arbitration matters, the Arbitration and Conciliation (Amendment) Act, 2019 has inserted section 43K which mandates Arbitration Council of India to maintain depository of arbitration awards made in India. Further, data on pending arbitration matters in courts (state wise) is being collected and will be laid on the table of the House.

(c) The Arbitration and Conciliation Act, 1996 has been amended recently through Arbitration and Conciliation (Amendment) Act, 2019 with a view to promote institutional arbitration in the country and to make arbitration process user friendly, cost effective and expeditious. Any further amendments in the Arbitration and Conciliation Act, 1996 may be considered after examining the feedback from stakeholders.

(d) No sir.

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