Central government constitutes expert committee to recommend reforms in Arbitration and Conciliation Act

The Union Law Ministry has constituted an expert committee to recommend reforms in the Arbitration and Conciliation Act, 1996 and examine the functioning of the Arbitration law in the country..The Law Ministry has constituted a sixteen-member expert committee headed by Dr TK Vishwanathan, Former Secretary of the Department of Legal Affairs. Further, DK Singh, CCA, Department of Legal Affairs will act as Convener of the Committee.The committee is anticipated to present its recommendations within a period of 30 days, starting from June 14. This action is being implemented to minimize the need for parties to approach the court for judicial intervention..Following members are included in the expert committee:N Venkatraman, ASGI Gourab Banerji, Senior Advocate AK 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 Representative of Ministry of Housing & Urban Affairs/ CPWD Representative of Legislative Department Rajiv Mani, Additional Secretary, Department of Legal Affairs..The comprehensive set of terms of reference for the operation of the expert committee encompasses the following:Evaluate and analyze the operation of the extant arbitration ecosystem in the country, including the working of the Arbitration and Conciliation Act, 1996, highlighting its strengths, weaknesses and challenges vis-à-vis other important foreign jurisdictions.Recommend a framework of model arbitration system, which is efficient, effective, economical and caters to the requirements of the users.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 in building a regime of cost effective arbitration, through arbitration professionals.Propose measures to fast track enforcement of award by suggesting modification to existing provision relating to setting aside of award and appeal so as to lend finality to arbitral award, expeditiously.Recommend statutory means to minimize recourse to judicial authorities/ courts in arbitration centric dispute resolution mechanisms.Suggest administrative mechanism/ SOP for minimizing routine challenge to arbitral award by the Government in disputes involving them.Recommend principles for determination of costs of arbitration.Recommend principles for determination of fees of arbitrators.Recommend a charter of duties for guidance of arbitral tribunal, parties and arbitral institutions.Examine the feasibility of enacting separate laws for domestic arbitration and international arbitration and for enforcement of certain foreign awards.