Arbitration provides an effective and efficient alternative window for dispute resolution.
The Government of India has laid emphasis on making Arbitration a preferred mode for settlement of commercial disputes.
In order to ensure speedy resolution of commercial disputes and to facilitate effective conduct of international and domestic arbitrations raised under various agreements, it has been considered necessary to go into various factors to accelerate arbitration mechanism and strengthen the arbitration ecosystem in the country.
It is also important to examine specific issues and roadmap required to make India a robust centre for international and domestic arbitration.
With the above end in view, the Government has decided to constitute a High Level Committee (HLC) in the Ministry of Law and Justice.
The Committee to review Institutionalization of Arbitration Mechanism in India will be headed by Justice B N Srikrishna.