Arbitration Council of India established under 2019 Bill

This Bill amends the Arbitration and Conciliation Act, 1996 to establish the Arbitration Council of India, designate arbitral institutions for appointing arbitrators, and set specific time limits for completing arbitration proceedings and making awards.

The law affects parties to arbitration agreements, arbitrators, arbitral institutions, the Supreme Court, High Courts, and the Central Government.

• Establishes the Arbitration Council of India as a body corporate to promote arbitration and grade arbitral institutions.
• Grants the Supreme Court and High Courts the power to designate arbitral institutions for the appointment of arbitrators.
• Mandates that statements of claim and defence be completed within six months of the arbitrator's appointment.
• Requires awards in non-international commercial arbitrations to be made within twelve months of the completion of pleadings.
• Introduces a requirement for confidentiality of arbitral proceedings, except for the award necessary for enforcement.
• Provides protection to arbitrators from legal proceedings for actions taken in good faith under the Act.
• Specifies that arbitral institutions must determine tribunal fees subject to rates in the Fourth Schedule.

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