Centre notifies four rules required under New Delhi International Arbitration Centre Act, 2019

The New Delhi International Arbitration Centre Act, 2019, provides for the establishment of an institution of national importance, namely the New Delhi International Arbitration Centre for creating an independent and autonomous body for facilitating institutional arbitration.

The NDIAC shall, inter alia, provide facilities and administrative assistance for conciliation, mediation and arbitral proceedings, maintain panel of arbitrators, both at national and International level; promote research and study, provide teaching and training and organize conferences and seminars in arbitration, conciliation, mediation and other alternative dispute resolution matters.

The Centre has been established vide notification dated 13^th June, 2022.  The Chairperson and the Members of the Centre have been appointed and are likely to assume charge soon.

The following Rules as required under the New Delhi International Arbitration Centre Act, 2019 have also been notified by the Central Government :-

1. New Delhi International Arbitration Centre (Number of Posts and Recruitment of Registrar, Counsel and other officers and employees) Rules, 2022;
2. New Delhi International Arbitration Centre (Terms and Conditions and the Salary and allowances payable to Chairperson and Full-time Members) Rules, 2022;
3. New Delhi International Arbitration Centre (Form of Annual Statement of Accounts) Rules, 2022;
4. New Delhi International Arbitration Centre (Travelling and other Allowances Payable to Part-time Members) Rules, 2022.

The Chamber of Arbitration under the Centre, to empanel experienced arbitrators of repute, at the national and international level, is being established. The Centre shall be a game-changer in investor’s perception of doing business in India, by establishing itself as a professionally managed arbitration center.