Amendment to Arbitration Act

August 29, 2019

The amendment to Arbitration and Conciliation Act 1996 with effect from 9th August 2019 has provided for time limit for determination of proceedings and passing of award. Now since the pleadings have to be filed within 6 months of appointment of arbitrator and award to be passed within 12 months thereafter it brings some certainty to the proceedings. It makes sense to now adapt this informal alternative dispute resolution mechanism to settle commercial disputes.