Arbitration and Conciliation (Amendment) Act, 2019

In July 2019, Parliament passed the Arbitration and Conciliation (Amendment) Bill, 2019 which is aimed at making India an international arbitration hub. It amended the Arbitration and Conciliation Act, 1996.

  • However, in November, 2019, the Supreme Court of India struck down Section 87 of the 2019 Act. Section 87 allowed automatic stay on all arbitral awards handed out in proceedings that commenced before Oct. 23, 2015.
  • The top court said the provision turns the clock backwards and also pushes companies into insolvency. The automatic stay provision denies an opportunity to companies to pay their creditors from the money received from arbitral ....
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