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Nani Pakhiwala Arbitration Centre has written a letter to the Ravi Shankar Prasad, the Union Law Minister, requesting him to take necessary measures to the Constitution of the Arbitration Council of India. The letter contended that pursuant to the 2017 report of high-level committee chaired by Justice BN Sai Krishna, the Arbitration and Conciliation (Amendment) Act, 2019 introduced Part 1A to the Act and provided for an independent body called the Arbitration Council of India. NPAC states that the arbitration council frame policies for grading arbitral institutions, accrediting arbitrators in India and upgrading norms to ensure the satisfactory level of arbitration. NPAC has also added that with a view to make India an international arbitration hub, the council was also tasked with the responsibility to hold training, workshops and courses etc. In the field of arbitration. Further NPAC stated that it is of the wide belief that the constitution of the arbitration council will immensely help in improving the standard and quality of arbitrations in India, thereby embodying a positive step towards making India into a arbitration hub.
NPAC had remarked that despite an immediate requirement for the constitution of the said council, the ministry of law and justice is yet to notify the provisions relating to the constitution of the council and establish such council till date. It was stated that In fact no steps have been taken to establish the council till date although the amendment act received the assent of the president more than 8 months ago. Further the letter concluded that NPAC therefore requests yourself to kindly consider taking necessary steps for the notification of the said provisions of the amendment act and for the constitution of the council at the earliest, as it represents an urgent need for the improvement of arbitrations in India.
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