The recent addition to the pro-arbitration outlook attracted a bit of controversy as the Arbitration and Conciliation (Amendment) Act, 2021 received the assent of the President on 11th March, 2021.
The 2021 amendment brought about two changes to the Indian Arbitration Act:
- It clarified that enforcement of an award can be unconditionally stayed if the court is satisfied that a prima facie case is made out that the award or the underlying arbitration agreement has been induced by fraud or corruption; and
- It removed the limits imposed by the 2019 Amendment Act on who can sit as an arbitrator in an Indian-seated arbitration.
To understand the cause, effect and concerns of this Amendment, IDEX Legal, in partnership with HCR and India Law Alliance (ILA) is hosting an exclusive webinar on Thursday, 16 September 2021 at 6 pm (IST) on the topic: ‘India’s Arbitration And Conciliation (Amendment) Act, 2021: cause, effect and concerns.’
Each panelist will discuss the changes to the Act, including what the changes entailed (as they were subject to interpretation), if and why they were necessary, and the impact they will have (positive or negative) on pending and future arbitrations.