RECENT AMENDMENT TO ARBITRATION ACT & ITS PRACTICABILITY

RECENT AMENDMENT TO ARBITRATION ACT & ITS PRACTICABILITY 

 webinar was delivered by Mr. Abdul Rahman a practising advocate at  The High Court of Madras and a partner at Nathan & Associates law firm .

The topic was about Recent amendment to the Arbitration act and its practicability. The speaker started the session by putting forth the difference between court & Arbitration. The 3 types of arbitration were discussed by the speaker. Various benefits of arbitration were skilfully discussed.Using illustrations the speaker addressed the current scenario of arbitration & its process. The 2015 & 2019 amendments were discussed with its comparison to the 1996 Act. The important reason why people prefer arbitration was put in clear points &  the thin line between arbitration & courts were put in a nutshell. Further the speaker discussed how an arbitrator is appointed & what are the difficulties in appointing one . The main core factor throughout the discussion was its practicality ,since the speaker is a practicing Advocate. We got the practical knowledge behind the arbitration. A new concept known as Arbitral institution was dealt by the speaker. How the arbitration is going to change in future was also explained.The main changes the amendments brought were made  clear & it focused on the time limit & stay order. The importance of arbitration in the banking sector was also discussed.