2019 – Posted in: Press Information Bureau

New Delhi International Arbitration Centre (NDIAC) Bill, 2019

(Cabinet)

WHAT

The Union Cabinet approved the Bill New Delhi International Arbitration Centre (NDIAC) Bill, 2019 for introduction in the ensuing session of Parliament.

Making India as the hub of International Arbitration has been one of the pioneering initiatives. Setting up of an independent an autonomous regime for institutionalized domestic and international arbitration are a step in this direction.

IMPACT

The benefits of institutionalized arbitration will be manifold for the Government and its agency and to the parties to a dispute.
This will result in quality experts being available in India and also an advantage in terms of cost incurred.
It will facilitate India becoming a hub for institutional arbitration.

IMPLICATION

The Bill provides for setting up of an independent an autonomous body for institutional arbitration and to acquire and transfer the undertakings of International Centre For Alternative Dispute Resolution (ICADR) to New Delhi International Arbitration Centre (NDIAC) w.e.f a specified date 2nd march, 2019.

IMPLEMENTATION

The Bill replaces the New Delhi International Arbitration Centre Ordinance, 2019, promulgated by President on 02.03.2019 for the creation of an independent and autonomous regime for institutionalized domestic and international arbitration and establishing India as an International Hub of Arbitration.

The Bill provides for the repeal of the New Delhi International Arbitration Centre Ordinance, 2019 and saves all the actions done or taken under the Ordinance which will be deemed to have been done or taken under the provisions of this Bill.

BACKGROUND

It has been the endeavor of the Government of India to establish an independent and autonomous institution for resolving International and domestic commercial disputes expeditiously by Alternative Dispute Resolution (ADR) mechanism.

The High Level Committee recommended that the Government may take over the International Centre For Alternative Dispute Resolution (ICADR), an existing institution which has been established in the year 1995 using the public funds and develop it as an Institution of National Importance.

THE NEW DELHI INTERNATIONAL ARBITRATION CENTRE (NDIAC)

The New Delhi International Arbitration Centre (NDIAC) will be headed by a Chairperson, who has been a Judge of the Supreme Court or a Judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration, law or management, to be appointed by the Central Government in consultation with the Chief Justice of India.

AIMS AND OBJECTIVWS OF NDIAC

bring targeted reforms to develop itself as a flagship institution for conducting international and domestic arbitration
provide facilities and administrative assistance for conciliation, mediation and arbitral proceedings;
maintain panels of accredited arbitrators, conciliators and mediators both at national and international level or specialists such as surveyors and investigators;
facilitate conducting of international and domestic arbitrations and conciliation in the most professional manner;
provide cost effective and timely services for the conduct of arbitrations and conciliations at Domestic and International level;
promote studies in the field of alternative dispute resolution and related matters, and to promote reforms in the system of settlement of disputes; and
co-operate with other societies, institutions and organisations, national or international for promoting alternative dispute resolution.

Source: PIB

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