Arbitration and Conciliation (Amendment) Bill 2021

The Arbitration and Conciliation (Amendment) Bill 2021 is a bill seeking to replace the ordinance promulgated in November 2020. It seeks to make amendments to the 1996 Act that deals with domestic and international arbitration and conciliation proceedings. Some of the changes include conditions for stay on arbitral awards and the qualifications and norms for accreditation of arbitrations (to be specified under regulations). The Bill had been passed by Lok Sabha in February. Recently, the Rajya Sabha also passed the Bill.