The Arbitration and Conciliation (Amendment) Ordinance, 2015, which substantially amends the provisions of the Arbitration and Conciliation Act, 1996, received presidential assent on 23 October 2015. It was notified in the form of the Arbitration and Conciliation (Amendment) Act, 2015, on 1 January 2016. Below are some of the key changes that the ordinance introduced.
- Flexibility for parties to approach Indian courts for interim relief in aid of foreign-seated arbitrations.
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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.