Arbitration and Conciliation (Amendment) Act, 2015: An Analysis of Impact on Commercial Disputes Resolution in India

The paper highlights the significance of enacting the Arbitration and Conciliation (Amendment) Act, 2015. The failure of the Arbitration and Conciliation Act, 1996 to control excessive judicial intervention and undue delay in the arbitration proceedings are clearly explained in this article to establish the context for legislating the Arbitration and Conciliation (Amendment) Act, 2015. The instances of excessive judicial intervention in arbitration are analysed supported with relevant judicial decisions. The role of the Law Commission of India in revamping the arbitration law is also highlighted in the paper. An overview of the key statutory provisions incorporated in the Arbitration and Conciliation (Amendment) Act, 2015 purposed to minimize the judicial intervention and delay in arbitration process is also provided. The paper aims in identifying the Arbitration and Conciliation (Amendment) Act, 2015 as a significant move in increasing the effectiveness of arbitration process in India. Keywords: Arbitration, Judiciary, Alternative Dispute Resolution, Law and Public Policy, Indian Legal System, Law Commission of India