Panel submits report on changes in arbitration law in india

Vastavam web:  A panel set up to suggest changes in arbitration law has proposed formation of a promotion council and a dedicated band of lawyers to contest such cases, Union minister Ravi Shankar Prasad said today. The committee headed by former Supreme Court judge B N Srikrishna had also lamented that the International Centre for Alternative Dispute Resolution (ICDAR) in Delhi had only conducted “22 arbitrations in 23 years.

The committee which submitted its recommendations to the law ministry has proposed that the centre (ICDAR) be given a statute and revamped to keep up with present times. The government in December last set up the committee to recommend ways to make arbitration more efficient as it seeks to make the country a hub of international arbitration and to accelerate the system of alternate dispute resolution.