A High-Level Committee set up to review the Institutionalization of Arbitration Mechanism in India has submitted its report to the Union Law Ministry. It was headed by Justice (retired) BN Srikrishna.
The Union Government is committed to the speedy resolution of commercial disputes and to make India an international hub of Arbitration. So the government has decided to look into the recommendations and amended laws according to need.
Important Takeaways from Above News-
- Ministry of Law And Justice comprises of the Legislative Department and the Department of Legal Affairs.
- Ravi Shankar Prasad is the current Union Minister holding Law and Justice and Ministry of Information Technology portfolio in the Government of India.
Source- Press Information Bureau (PIB)