The Central Government on November 04, 2020 has issued the Arbitration and Conciliation (Amendment) Ordinance, 2020 to further amend the Arbitration and Conciliation Act, 1996.
The following amendments have been made:
• Section 36 (3), which specifies the award given after the arbitration proceeding, has been inserted, namely:
“Provided further that where the Court is satisfied that a prima facie case is made out:
1. that the arbitration agreement or contract which is the basis of the award.
2. the making of the award.
Was induced or effected by fraud or corruption, it shall stay the award unconditionally pending disposal of the challenge under section 34 to the award.”
• Section 43J, which specifies the norms of the arbitrators, has been substituted, namely:
“The qualifications, experience and norms for accreditation of arbitrators shall be such as may be specified by the regulations.”
[Ordinance No. 14 of 2020]
