Stakeholders to be consulted
The New Delhi International Arbitration Centre (NDIAC), will be headed by a Chairperson, who has been a Judge of the Supreme Court or a Judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration, law or management.
The Chairperson will be appointed by the Central Government in consultation with the Chief Justice of India, said the Law and Justice Ministry on 12 Feb 2020.
The establishment and incorporation of NDIAC for the purpose of creating an independent and autonomous regime for institutionalised arbitration and to make it a hub for institutional arbitration.
It is under the Act that comes into force on 2nd March, 2019.
Besides, NDIAC will also have two Full-time or Part-time Members from amongst eminent persons having substantial knowledge and experience in institutional arbitration, both domestic and international.
In addition, one representative of a recognized body of commerce and industry shall be nominated on rotational basis as a Part-time Member.
The Secretary, Department of Legal Affairs, Ministry of Law & Justice; Financial Adviser nominated by Department of Expenditure, Ministry of Finance and Chief Executive Officer, NDIAC will be ex-officio Members.
Section 23 of the Act provides for the Secretariat to the Centre inter-alia comprising Registrar, Counsel and other officers & employees etc. fiinews.com
