Arbitration and Conciliation (Amendment) Bill, 2015
Q. Which of the following statements is/are correct about Arbitration and Conciliation (Amendment) Bill, 2015?
1. The arbitration amendment seeks to make the process of alternate dispute resolution for businesses simpler and quicker.
2. Any challenge to an arbitral award that is made before a Court, must be disposed of within a period of one year.- Published on 29 Dec 15a. Only 1
b. Only 2
c. Both
d. None of the above
ANSWER: Both
- The bills are a step towards attracting foreign investors into a system where commercial disputes are settled quickly.
- The arbitration amendment will seek to impose a time limit of 12 months within which the proceedings will be completed.
- Courts hearing appeals from arbitral awards will dispose of cases within a year.
