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News: As many as six years after the law was amended, the Union Government is yet to constitute the Arbitration Council of India to regulate and promote institutional arbitration in the country.
About Arbitration Council of India (ACI)
- The Arbitration Council of India (ACI) is a statutory body established to promote and regulate arbitration mechanisms in the country.
- It is governed by Part IA (Sections 43A to 43M) of the Arbitration and Conciliation Act, 1996, as amended in 2019.
- It reflects India’s aim to become a global arbitration hub, especially for commercial disputes.
- Headquarter: Its head office shall be in Delhi.
- Composition of ACI
- Chairman: ACI will be chaired by a former Supreme Court or High Court judge or an eminent arbitration expert, appointed by the Central Government in consultation with the Chief Justice of India.
- Full-time Members: It will also have two Full-time Members from amongst eminent arbitration practitioners and academicians.
- Part-time Member: In addition, one representative of a recognized body of commerce and industry shall be nominated on rotational basis as a Part-time Member.
- Ex-officio Members
- The Secretary, Department of Legal Affairs, Ministry of Law & Justice
- Secretary, Department of Expenditure, Ministry of Finance
- Chief Executive Officer, ACI will be ex-officio Members.
- Functions: As per Section 43D of the Act, the Council would discharge the following functions:
- Frame policy governing the grading of arbitral institutions.
- Recognize professional institutes providing accreditation of arbitrators.
- Review of grading of arbitral institutions and arbitrators.
- Hold training, workshops and courses on arbitration in collaboration of law firms, universities and arbitral institutes.
- Frame, review and update norms to ensure satisfactory level of arbitration and conciliation.
- Act as a forum for exchange of views and techniques to make India a robust centre for domestic and international arbitration.
- Make recommendations to the Central Government to make provisions for easy resolution of commercial disputes.
- Promote institutional arbitration by strengthening arbitral institutions.
- Conduct examination and training on various subjects relating to arbitration and conciliation and award certificates.
- Establish and maintain depository of arbitral awards.
- Make recommendations regarding personnel, training and infrastructure of arbitral institutions.
