With India’s escalating economic prominence and a surge in disputes among parties, it is frequently observed that they become entangled in legal conflicts. Consequently, there arises an imperative for the efficient administration of arbitration.<\/p>\n
There was a pressing need for a shift in perspective towards favouring institutional arbitration over the prevalent ad-hoc approach. This change in mindset was motivated by the recognition of the advantages of institutionalized processes in ensuring efficiency and reliability in arbitration proceedings.<\/p>\n
Therefore, the India International Arbitration Centre (IIAC), a statutory institution was established to create an independent and autonomous regime for institutional arbitration in India. The IIAC is overseen by a distinguished team with extensive expertise in both domestic and international institutional arbitration, led by a former Supreme Court Judge of India serving as the Chairperson.<\/p>\n
Its aim is to implement targeted reforms to establish itself as a leading institution for domestic and international arbitration in India, maintain panels of accredited arbitrators at national and international levels and ensuring the conduct of international and domestic arbitration in a professional manner.<\/p>\n
The overarching goal of the IIAC is to position India as a prominent arbitration hub by facilitating efficient dispute resolution mechanisms.<\/p>\n
In pursuit of expeditiously resolving disputes through arbitration, the India Arbitration Centre (Conduct of Arbitration) Regulations, 2023 (hereinafter referred to as the „IIAC Regulations<\/em>„) were notified by IIAC in November 2023.<\/p>\n Some of the features of the regulation-<\/p>\n","protected":false},"excerpt":{"rendered":" With India’s escalating economic prominence and a surge in disputes among parties, it is frequently observed that they become entangled in legal conflicts. Consequently, there arises an imperative for the efficient administration of arbitration. There was a pressing need for a shift in perspective towards favouring institutional arbitration over the prevalent ad-hoc approach. This change […]<\/p>\n","protected":false},"author":24,"featured_media":17315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[166],"tags":[],"class_list":["post-17311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law"],"acf":[],"yoast_head":"\n