Has an Arbitration Council been constituted? | Explained

Key Highlights

• The 2019 amendments proposed the establishment of the ACI as a premier regulatory body tasked with promoting, reforming, and advancing the practice of arbitration in the country.
• This institutional framework drew from the recommendations of the High-Level Committee on Arbitration, chaired by Justice B. N.
• Srikrishna, which submitted its report in July 2017.
• The amendments vested the Council with a wide range of functions, including grading arbitral institutions, recognising professional bodies that accredit arbitrators, and maintaining a repository of arbitral awards made in India.
• The ACI was proposed to be headed by a Chairperson appointed by the Union government in consultation with the Chief Justice of India.