Mr Alok Jain delivered a guest lecture on the amendments in the Arbitration and Conciliation Act, 2019. The lecture began with Mr Alok Jain giving a brief introduction to his work profile in the Economic Laws Practice. He stated that the amendments were not expeditious and the reason for the same were the amendments. The base for the 2019 amendments was the 2015 amendments.
The need for amendments was due to delay and cost. Money is charged on a per hearing basis which drags on arbitration. The need for Section 11 of the amending act was discussed and how the 2015 amendment limited its scope of court intervention.
According to him, the 2015 amendment was a better amendment than the 2019 amendment. The introduction of timelines was a benefit of the 2015 amendment. The demerits, however, were that the amendment was unable to check section 11 and court intervention, and patent illegality only applied to domestic and not to foreign jurisdictions.
The Shrikrishna Committee Report, its bench, and the decision were also discussed. The notified provisions, viz. sections 17, 19, 17, 23, 29A, 34, 37, 42A, 42B, 45, 50 were discussed at length. Unnotified provisions under sections 2(ca), 11, 43, among others were discussed as well. At last, the prospective application of 2015 amendment was discussed.
The session concluded with the students getting cursory insight into the provisions of the Arbitration Act 2019.