Questions and Answers
What was the purpose of introducing the Arbitration and Conciliation (Amendment) Bill, 2015 in the Parliament?
To make arbitration a preferred mode of settlement of commercial disputes
What was the significance of the Arbitration and Conciliation (Amendment) Ordinance, 2015?
It amended the Arbitration and Conciliation Act, 1996
What was the primary amendment introduced by the 2015 ordinance to the Arbitration and Conciliation Act, 1996?
Definition of expression 'Court'
What was the ultimate goal of the 2015 and 2019 amendments to the Arbitration and Conciliation Act, 1996?
Signup and view all the answers
What was the main focus of the Union Cabinet's approval for amendments to the Arbitration and Conciliation Bill, 2015?
Signup and view all the answers
Study Notes
Arbitration and Conciliation (Amendment) Bill, 2015
- Introduced in the Parliament to make arbitration a preferred mode of settlement.
- Aimed to ensure that Indian courts are not overcrowded with cases.
Arbitration and Conciliation (Amendment) Ordinance, 2015
- Introduced to amend the Arbitration and Conciliation Act, 1996.
- Made significant changes to the arbitration process in India.
Primary Amendment to the Act, 1996
- Introduced the concept of "costs" to ensure that the arbitration process is efficient and cost-effective.
- Empowered the courts to determine and award costs, including lawyers' fees.
Ultimate Goal of the Amendments
- To promote institutional arbitration in India.
- To make India a hub of international arbitration.
- To ensure that arbitration is a speedy, cost-effective, and efficient process.
Union Cabinet's Approval in 2015
- Approved amendments to the Arbitration and Conciliation Bill, 2015.
- Focused on promoting ease of doing business in India.
- Aimed to make India a preferred destination for arbitration.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
