Lok Sabha Passes Arbitration & Conciliation (Amendment) Bill, 2021

The Lok Sabha passed the Arbitration and Conciliation (Amendment) Bill, 2021 by voice vote. The Bill was introduced in Lok Sabha on February 4, 2021 by Law Minister Ravi Shankar Prasad. It is already in force by way of an Ordinance promulgated on 4th November, 2020. t seeks to amend the Arbitration and Conciliation Act, 1996 so as to (i) enable automatic stay on awards in certain cases and (ii) specify by regulations the qualifications, experience and norms for accreditation of arbitrators.