Last Updated : Aug 18 2018 3:24PM
News Highlights
Third Test between India & England to be played in Nottingham today            PM Modi reviewes flood situation in rain-battered Kerala at high-level meeting in Kochi            Eleventh World Hindi Conference begins today in Mauritius           

National News

Aug 10, 2018
6:07PM

Lok Sabha passes Arbitration & Conciliation (Amendment) Bill, 2018 for discussion

Lok Sabha TV The Lok Sabha has passed the Arbitration and Conciliation (Amendment) Bill, 2018. It will amend the Arbitration and Conciliation Act, 1996.

The Bill seeks to establish an independent body called the Arbitration Council of India for the promotion of arbitration, mediation, conciliation and other alternative dispute redressal mechanisms. 


Replying to a debate on the Bill, Law Minister Ravi Shankar Prasad said, the legislation provides for time-bound settlement of disputes as well as accountability of the arbitrator. 

He said, it is a momentous and important legislation as Government wants India to become a hub of domestic and international arbitration. He said, there is a need for robust mechanism to deal with institutional disputes. 

Earlier, moving the Bill, Minister of State for Law and Justice P P Chaudhary said, Government wants to make India a hub of international arbitration. He said, it will improve ease of doing business as well as India’s ranking. 

He said, a confidentiality clause has been added in the Bill so that confidentiality can be maintained with respect to arbitration institution, arbitrators and parties. The Minister said, arbitrating process will be initiated from 23rd October onwards. 

Initiating the discussion Sunil Jakhar of Congress asked if the Rafale Deal will make it to the proposed arbitration panel.

Sharad Tripathi of BJP termed the Bill as very important and said that it will improve the business environment of the country. He said  India is growing at a rate of 7.5 per cent.
 

   Related News

Listen News

  • Morning News 18 (Aug)
  • Midday News 18 (Aug)
  • News at Nine 17 (Aug)
  • Hourly 18 (Aug) (1300hrs)
  • समाचार प्रभात 18 (Aug)
  • दोपहर समाचार 18 (Aug)
  • समाचार संध्या 17 (Aug)
  • प्रति घंटा समाचार 18 (Aug) (1305hrs)
  • Khabarnama (Mor) 18 (Aug)
  • Khabrein(Day) 18 (Aug)
  • Khabrein(Eve) 17 (Aug)
  • Aaj Savere 18 (Aug)
  • Parikrama 17 (Aug)
  • Lok Ruchi Samachar 12 (Aug)

Listen Programs

  • Market Mantra 17 (Aug)
  • Samayki 17 (Aug)
  • Sports Scan 17 (Aug)
  • Spotlight/News Analysis 15 (Aug)
  • Public Speak
  • Country wide 2 (Aug)
  • Surkhiyon Mein 2 (Aug)
  • Charcha Ka Vishai Ha 15 (Aug)
  • Vaad-Samvaad 7 (Aug)
  • Money Talk 7 (Aug)
  • Current Affairs 10 (Aug)

 

 

 

 

× All donations towards the Prime Minister's National Relief Fund(PMNRF) and the National Defence Fund(NDF) are notified for 100% deduction from taxable income under Section 80G of the Income Tax Act,1961""