9 years, 4 months ago

12 Month timeline for Completion of Arbitrations under 2015 Ordinance, whether applicable to pending arbitrations; Madras HC asks Centre to clarify [Read Order]

A Division Bench of Madras High Court has asked the Centre to clarify whether Section 29A of the Arbitration and Conciliation Ordinance, 2015 would apply to pending arbitrations. Section 29A provides for a mandatory 12 month timeline for arbitrations to be completed failing which parties have to approach Court and get an extension Order. Speaking to LiveLaw Mr. Anirudh Krishnan said “Though the Amendments are well intentioned, inclusion of some provisions like Section 29A, which sets out a stringent timeline of 12 months for completion of the arbitration and exclusion of provisions like Section 85A contained in the Law Commission Report which deals with prospectivity/ retrospectivity of each of the provisions in the Act, are likely to lead to litigation. The Bench hence sought clarification as to whether prior to the issuance of the Ordinance, the opinion of the Law Commission was obtained with regard to the introduction of Section 29A of the Arbitration and Conciliation Act, 1996 and if so, what was the opinion.

Live Law

Discover Related