The Union Government and the Ministry of Law and Justice has constituted the sixteen-member expert committee headed by Dr. T.K. Vishwanathan, the Former Secretary of the Department of Legal Affairs in order to examine the work of arbitration law in India and for recommending the reforms in the Arbitration and Conciliation Act, 1996.
The Expert Committee Constituted is expected to submit its recommendations within 30 days from June 14, 2023. Therefore, the step is taken to limit the requirement for parties for seeking judicial intervention by approaching court.
The Expert Committee composition is as under:
Dr. T.K. Vishwanathan – the Former Secretary, Department of Legal Affairs as the Chairperson
Members:
N. Venkatraman, ASGI
Gourub Banerji, Senior Advocate
A.K. Gangull, Senior Advocate
Shardul Shroff,Partner, Shardul Amarchand Mangaldass
Bahram Vakil, Partner, AZB Partners
Saurav Agarwal, Advocate
Representative of NITI Aayog
Representative of Enterprises/ CPSES
Representative of Department of Confederation of
Public Indian Industries (CIL)
Representative of NHAI/MORTH
Representative of Ministry of Railways
Representative of Department of Economic
Affairs / CPWD
Representative of Legislative Department
Rajiv Mani, Additional Secretary, Department of Legal Affairs.
Further, the consolidated Terms of Reference for the working of the Expert Committee includes the following:
1. To Evaluate and analyse the operation of the extant arbitration ecosystem in the country, which includes the working of the Arbitration and Conciliation Act, 1996, highlighting its strengths, weaknesses, and challenges vis-à-vis other important foreign jurisdictions.
2. For recommending the framework of model arbitration system, which is efficient, effective, economical and caters to the requirements of the users.
3. To Devise strategy for developing a competitive environment in the arbitration services market for domestic and international parties that can sub-serve the interests of the users, particularly for building the regime of cost-effective arbitration, through the arbitration professionals.
4. To propose measures for fast tracking enforcement of award by suggesting modification to existing provision which relates for setting aside of award and appeal so as to lend finality to arbitral award, expeditiously.
5. The Recommend statutory means to minimise recourse to judicial authorities or the courts in arbitration centric dispute resolution mechanisms.
6. For suggesting administrative mechanism or the SOP for minimising routine challenge to arbitral award by the Government in disputes involving them.
7. To Recommend principles for determination of costs of arbitration.
8. To Recommend principles for determination of fees of arbitrators.
9. To Recommend a charter of duties for guidance of arbitral tribunal, parties, and arbitral institutions.
10. Examining the feasibility of enacting separate laws for domestic arbitration and international arbitration and for enforcement of certain foreign awards.