Cabinet approves Ordinance to establish New Delhi International Arbitration CentreMarch 1 2019
The Union Cabinet has approved promulgation of an Ordinance for establishing New Delhi International Arbitration Centre (NDIAC).
The Centre would provide an independent and autonomous regime for institutionalised arbitration.
The Ordinance was approved after the New Delhi International Arbitration Centre Bill, 2019, could not be taken up for consideration by the Rajya Sabha in its recently concluded 248th Session.
Therefore, in view of the urgency to make India a hub of institutionalised arbitration . . .
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