New Delhi, Dec 15 (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday cleared a bill for establishing an Indian council of international arbitration.A
"To strengthen arbitration in the country, we have decided to establish an Indian council of international arbitration centre as a centre of all Indian excellence... a separate bill has been brought for that," Law and Justice Minister Ravi Shankar Prasad said at a briefing on the Cabinet decisions.
Last week, Chief Justice of India Justice Dipak Misra had called for shift towards institutional arbitration which should be both timely and cost effective for making India a sought-after arbitration centre.
Arbitration, a form of alternative dispute resolution, is a way to resolve disputes outside the courts.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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