Background:
- The International Centre for Alternative Dispute Resolution (ICADR), was set up in 1995.
- It works under the aegis of the Supreme Court. The chief justice of India is the ex-officio chairperson of the ICADR, while former law minister H R Bhardwaj is the patron of the institution.
- However, according to critiques, ICADR has not been able to embrace developments in the arbitration ecosystem.
- A high-level committee headed by Justice B N Srikrishna, a former Supreme Court judge, was constituted to promote institutional arbitration and make India its hub.
- In the aftermath, the New Delhi International Arbitration Centre, Bill, 2019 was passed by Lok Sabha.
- However the NDIAC Bill, 2019, could not be taken up for consideration and passing by the Rajya Sabha in the recently concluded session. Therefore, the government has decided to promulgate an Ordinance: ‘The NDIAC, 2019’.
Features of the ordinance:
- Objectives: It provide for the establishment and incorporation of New Delhi International Arbitration Centre (NDIAC) for –
- creating an independent and autonomous regime for institutionalised arbitration and
- take over the undertakings of the ICADR.
- Composition:
- The NDIAC will be headed by a chairperson who has been a Judge of the Supreme Court or a Judge of an HC or an eminent person, having special knowledge and experience in the conduct or administration of arbitration law.
- The chairperson will be appointed by the Centre in consultation with the Chief Justice of India.
- There will also be two full-time or part-time members. They will be eminent persons having substantial knowledge and experience in institutional arbitration.
