India’s parliament introduces Bill to alter Arbitration Law: attempt to put an end to fraudulent practices
To read the article on IBA net, click here India’s laws relating to arbitration are largely based on the English Common Law. The Indian arbitration regime is governed and regulated by the Arbitration and Conciliation Act 1996 (the ‘Principal Act’), which derives its basis from the 1985 United Nations Commission on International Trade Law (UNCITRAL) Model on International Commercial Arbitration and the UNCITRAL Arbitration Rules of 1976. The Principal Act was passed to consolidate the laws relating to domestic arbitration, international and commercial arbitration, enforcement of foreign arbitral awards, and the law relating to conciliation. Since its inception, the Principal Act...
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