5.2. New Delhi International Arbitration Centre (NDIAC) Act

Recently, the government has passed New Delhi International Arbitration Centre (NDIAC) Act. The Act envisages NDIAC to replace International Centre for Alternative Dispute Resolution (ICADR) as an Institution of National Importance. A major drawback of ICADR, as identified by the Justice Srikrishna Committee, was its failure in keeping pace with new developments in the arbitration scenario to match up with the dynamic developments in the field of arbitration globally. Moreover, a large governing council made it difficult for the institution to coordinate its governance.

NDIAC will facilitate conducting of international and domestic arbitration, mediation and conciliation proceedings in a most professional, cost effective and timely manner.

♤ It will be headed by a chairperson, who has been a judge of the Supreme Court or a High Court or an eminent person having special knowledge and experience in the administration of arbitration.

♤ Other objectives of the centre includes:

o maintaining panels of accredited arbitrators, conciliators and mediators through a Chamber of Arbitration

o establishing an Arbitration Academy for training arbitrators

o promoting studies and reforms in the field of alternative dispute resolution and related matters

o co-operating with other societies, institutions and organisations, national or international for promoting alternative dispute resolution