India’s Draft Arbitration & Conciliation (Amendment) Bill, 2024 – What Businesses and Practitioners Should Know
1. Why this draft matters The Ministry of Law released its consultation draft on 18 October 2024, signalling another overhaul of the 1996 Act. The proposals chase three linked goals: (i) faster timelines, (ii) clearer court-arbitration boundaries, and (iii) a decisive nudge toward institutional and digital hearings . While the Bill may still evolve in Parliament, its present contours already invite strategic planning. 2. Key Takeaways Stricter timelines : 60-day limits for referrals, appointments & appeals, plus 30-day rulings on jurisdiction speed awards. Court exits post-commencement : Section 9 relief ends once the tribunal forms, cementing tribunal primacy. Emergency Arbitrator : New Section 9A gives enforceable, institution-only emergency orders, closing pre-tribunal risk gaps. Territorial Jurisdiction with ‘Seat’ clarified : Replacing “place” with “seat” ties supervisory courts to the chosen venue, curbing forum shopping. Award-extension control : Sec...