Published in:
Livemint
Pubished on:
21 Oct 2015
Under the proposed amendments to the Arbitration and Conciliation Act, 1996, an arbitrator will have to settle a case within 18 months. However, after the completion of 12 months, certain restrictions will be put in place to ensure that the arbitration case does not linger on, the sources said.
The amendments to the law come amidst keenness of the government to attract the greater foreign investment. Certain foreign companies were said to be hesitant to do business in India because of the long-drawn litigations.