Arbitration clauses were typically copy paste clauses - appearing somewhere in the miscellaneous provisions which are included in contracts without much thought. Times have changed. Arbitration is assuming greater importance in everyday contracts and is no longer the luxury of MNCs and enormous public sector undertakings. The objective of this post is to provide a... Continue Reading →
Trusts and Dispute Resolution: An Overview A person may make a charitable transfer of property either for the benefit of the society at large (Public Trusts) or for his own family or for some specific person (Private Trusts). In such cases, to ensure that the benefits are appropriately passed on to the intended beneficiary, he... Continue Reading →
Taking into consideration the Law Commission’s recommendations and suggestions received from stake holders, an Ordinance to amend the Arbitration and Conciliation Act, 1996 has been promulgated by the President. The Ordinance is likely to be introduced in the winter session of the parliament and shall have to be passed by both the houses within 6 weeks or 42 days. Failing this, it shall lapse and may be repromulgated at the discretion of the government. Certain amendments brought about by this Ordinance are welcome changes and shall definitely facilitate ease of doing business in India.