Thursday, Mar 28 2024 | Time 20:19 Hrs(IST)
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Parliament


….Two last

Earlier, replying the debate on the “The New Delhi International Arbitration Centre Bill 2019 and “The Arbitration and Conciliation (amendment) Bill 2019”, The Law Minister Ravi Shankar Prasad said that the some of the Members of the Opposition apprehension were baseless there would be manipulation in constitution of the arbitration council.
“For the smooth inflow of domestic and international investments, the company’s disputes have to be resolved quickly and that is why this arbitration centre in Delhi is much need thing”, Mr Prasad said. He further said that the New Delhi International Arbitration Centre Bill 2019 will replace the Ordinance promulgated on March 2 and once it is constituted, the International arbitration will also be resolved within the country.
The lone arbitration centre of the country is located in Mumbai, he added. Elaborating the constitution of the council, the Law Minister informed the House that under this law, the Supreme Court and High Courts will have the right to constitute the arbitration council and panels.
There is no row at position 0.
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