Page 2 - Arbitration

In push for arbitration in India, one sector steps on the gas

The central government sought from the Supreme Court time till November to file an expert committee's report recommending reforms in the Indian Arbitration and Conciliation Act of 1996

Less than 10% Indian arbitrators on international panels are women: CJI

Chief Justice of India (CJI) D Y Chandrachud has lamented that less than 10 per cent of all Indian arbitrators on various international panels are women, terming the situation as a diversity paradox. The CJI was speaking at the inaugural session of the United Nations Commission on International Trade Law (UNCITRAL) South Asia Conference, 2023 on Thursday. Justice Chandrachud hailed the fact that now various international arbitral institutions have curated regionally diverse panels of arbitrators. However, the gendered compositions of these panels are hard to miss. We face what is called a diversity paradox i.e. a mismatch between our stated objectives and actual appointments. Less than 10 per cent of all Indian arbitrators on various international institutional panels are women, he said. He referred to a report on Gender Diversity and said it identified unconscious bias' was contributing to this gender mismatch. It suggests using gender-neutral pronouns in our legislation and rule

Vedanta wins arbitration against govt in $1.1 bn cost disallowance case

Mining magnate Anil Agarwal's Vedanta Ltd has won an arbitration against a demand for a higher payout from its prolific Rajasthan oil and gas fields after disallowance of Rs 9,545 crore (USD 1.16 billion) in certain costs incurred, the company said. The government has sought additional profit petroleum (or its share from the oil and gas fields) after it reallocated certain costs between the fields in the block and disallowed a portion of the cost incurred on laying a pipeline to evacuate oil produced from the Rajasthan block. As per the contract, companies are allowed to recover all costs incurred before splitting profit in a predetermined ratio with the government. If a certain portion of cost is disallowed, it would result in higher profits and a resultant higher share to the government. Vedanta had challenged such a demand before an arbitration tribunal. "The company has received an arbitration award dated August 23, 2023... upholding the contention of the company that additional

3,529 arbitration cases pending in Himachal, HC says 'extremely serious'

The Court observed that the issue is indeed extremely serious and, therefore, required to be deliberated upon by all the stakeholders, more particularly, NHAI and Central Government

Changes to arbitration act to bring it on par with global practice: Experts

Some want parties to be allowed to contest award at the outset, so that it can also be scrutinsed by first appellate court and the parties can assail it as if it were a trial court decree

Centre panel for arbitration law reforms to have first meeting on June 20

The committee will submit its recommendations to the government within a period of 30 days

Centre forms expert committee to suggest reforms to arbitration law

The Committee is to submit its recommendations to the government within a period of 30 days

Option for arbitration in agreement not binding on parties: HC observation

Court ruling relates to dispute between two parties over non-payment of invoices for operation and maintenance

Go First backs emergency arbitration in dispute with Pratt & Whitney

(Reuters) - India's Go Airlines said on Monday it needed an emergency arbitration in its dispute with engine maker Pratt & Whitney to be enforced in Delaware to prevent it from going out of business.

Delhi HC dismisses Centre's plea accusing RIL of 'unjust enrichment'

Judge Anup Jairam Bhambhani today upheld the decision and said that the case calls for 'no interference'

Unstamped arbitration agreements invalid in law, says Supreme Court

Legal experts said that this judgment will give some clarity and predictability

Samsung's unionised workers to bring wage dispute to govt arbitration panel

The unionized workers, which accounted for around 7.4 per cent of the total 121,000 workers, have engaged in wage negotiations with the management since late December

Arbitration off track

Delhi Metro shareholders should step up

International arbitration in India: One step forward with new rules

The Bar Council's latest rules go a long way but there are some major hurdles to India's evolution as a global arbitral centre

India needs legal system, structure to support arbitration: John Quinn

Chairman of one world's largest law firms for business arbitration says 'enormous demand' for setting commercial disputes outside courts

Arbitrage funds back in favour as market volatility boosts returns

Interest in low-risk equity products of mutual fund schemes see interest after extended period of outflows

Bar Council permits foreign law firms to practice in select fields in India

BCI said that the entry of foreign firms will be restricted, well-controlled and regulated to ensure that it is mutually beneficial to Indian as well as foreign lawyers

AI can help arbitrators in document review, analysis, research: Rijiju

Law Minister Kiren Rijiju on Sunday batted for institutional arbitration in the country and pointed at loopholes in "ad hoc" arbitration, saying such proceedings are susceptible to court interventions which delay the final outcome. He also said artificial intelligence (AI) can help arbitrators in tasks such as document review and analysis, legal research, and drafting of awards. Addressing a Delhi Arbitration Weekend event at the Delhi High Court, he said majority of the people go for "ad hoc" arbitrations where the proceedings are not governed by pre-determined rules. As a result, these proceedings are susceptible to court intervention at various stages which leads to delay in final decision for the parties involved. On the other hand, Rijiju pointed out, institutional arbitrations are regulated by the rules of an institution that provide for a more structured and secure process. In addition, parties can benefit from the expertise of the arbitral institution having good quality ..

Vivad se Vishwas-II scheme looks to settle financial disputes only

Centre notifies the scheme; disputes with states govts, another pvt firm not covered

Govt to come out with discussion paper on contractual disputes: Somanathan

In a bid to free up thousands of crores of rupees locked up in litigation and arbitration, the government will come out with a discussion paper on a scheme detailing the percentage of amount which could be paid for expeditious resolution of contractual disputes, Finance Secretary T V Somanathan said. To begin with, the Department of Expenditure under the finance ministry will seek stakeholder suggestions on the quantum of percentage that could be offered for settling contractual disputes, besides other terms and conditions. The scheme would cover disputes relating to government contracts which are currently under arbitration or litigation. Under the scheme, which would be voluntary, contractors can come forward for resolution of disputes by accepting a specified percentage of the contract value. The percentage would be notified separately and will be 'reasonable and fair' so that many people take it, Somanathan told PTI. "...if they're willing to accept that percentage, it (dispute