Arbitration Bill tabled in LS amid queries by TMC members

A Bill aimed at amending a law on arbitration for speedy settlement of high value business disputes was introduced in the Lok Sabha on Thursday amid questions raised by Trinamool Congress members over some of its clauses.

The Arbitration and Reconciliation Bill, 2015 seeks to replace an ordinance promulgated in October. As soon as Law Minister DV Sadananda Gowda introduced the Bill, Saugata Roy (TMC) opposed its introduction saying certain clauses relating to jurisdiction of courts in helping settle commercial disputes will create “two classes” in the country.

His party colleague Kalyan Banerjee also pointed out that original jurisdiction lies only with the High Courts of Calcutta, Madras and Bombay which were created before India became independent.

Gowda said though the amendment Bill is clear and there is “no confusion” about settling international and other arbitrations (alternative dispute resolution mechanism), the issues raised by the members can be discussed when bill comes up for consideration and passage.

For speedy settlement of commercial disputes, the Cabinet had in August cleared the bill to amend the Arbitration Act to fix a timeline for arbitrators to resolve cases. The bill was not introduced in Parliament.