Arbitration Act Amendment Bill

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

Two bills aimed at creating commercial benches in select high courts and amending a law on arbitration for speedy settlement of high value business disputes were cleared by Parliament today.

Government is set to bring official amendments to the Arbitration Act (Amendment) Bill in the Lok Sabha to remove ambiguity on whether it will apply to ongoing arbitration cases.

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

Two bills aimed at creating commercial benches in select high courts and amending a law on arbitration for speedy settlement of high value business disputes were cleared by Parliament today.

Government is set to bring official amendments to the Arbitration Act (Amendment) Bill in the Lok Sabha to remove ambiguity on whether it will apply to ongoing arbitration cases.