Recently the Law Commission of India (the “Commission”) has submitted its 246th Report (the “Report”) to the Law Ministry (the “Ministry”) seeking amendment to the Arbitration and Conciliation Act, 1996 (the “Act”). Earlier in 2001, the Commission had submitted its 176th report to the Ministry and recommended various amendments to the Act. After considering the recommendations of the 176th Report, the Government decided to accept almost all such recommendations and accordingly, introduced the ‘Arbitration and Conciliation (Amendment) Bill, 2003’ in the Rajya Sabha on December 22, 2003. Subsequently, in the wake of the report of the Justice Saraf Committee, the Bill was referred to the ‘Department Related Standing Committee on Personnel, Public Grievances, Law and Justice’ for a further analysis. It was said that the content of the Bill was insufficient and contentious and thus was withdrawn from the Rajya Sabha.
Later on the Commission came out with a Consultation Paper in 2010 and it formed an expert committee comprising of several eminent persons from the field of law to study the proposed amendments and make suggestions accordingly. Written responses were also received from various institutions like FICCI, CII and ASSOCHAM. After extensive deliberations and study, the Commission has now prepared the Report.
Suggested Citation: Suggested Citation