Arbitration and Conciliation Recent Changes and Legal Recognition

Abstract

The article is on the recent changes brought in the Arbitration law through Arbitration and Conciliation Amendment Act, 2019. Such amendments brought in are very much required as they not only resolve disputes without intervention of court but also resolve the disputes in timely manner. Even though the Cost accountants are eligible for being appointed as arbitrators, they weren’t granted legal recognition prior amendment and now Cost Accountants are legally recognized to be appointed as Arbitrators upon meeting eligible requirements. The Companies Act, 2013 has also specified that the Cost Accountants can act as Arbitrators upon satisfaction of rules prescribed.