Govt constitutes panel led by former Law Secy T K Vishwanathan to recommend reforms in arbitration law

Amid a push for making India a hub for international arbitration, the government has set up an expert panel led by former law secretary T K Vishwanathan to recommend reforms in the Arbitration and Conciliation Act with an aim to reduce the burden on courts. Attorney General N Venkataramani is also part of the expert committee set up by the Department of Legal Affairs in the Union law ministry.

The committee is likely to submit its recommendations within 30 days from today and this is done to put a cap on the needs for parties to seek judicial intervention by approaching court.

As per the terms of reference for the committee, it will evaluate and analyse the operation of the present arbitration ecosystem of the country, including the working of the Arbitration Act, highlighting its strengths and weaknesses and challenges vis-a-vis other important foreign jurisdictions.

The composition of the Committee is as under: Dr. T.K. Vishwanathan - Former Secretary, Department of Legal Affairs as the Chairperson 

Following are the 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 Representative of Ministry of Housing & Urban Affairs/ CPWD Representative of Legislative Department Rajiv Mani, Additional Secretary, Department of Legal Affairs.

The consolidated Terms of Reference for the working of the Expert Committee includes the following: 

• Evaluate and analyse 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 minimise recourse to judicial authorities/ courts in arbitration centric dispute resolution mechanisms. 
• Suggest administrative mechanism/ SOP for minimising 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.