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Negotiation,

Conciliation and
Arbitration Aspects:
Role of Company
Secretary in the said
process
Kavita
Jha,
Ms. Ms.
Kavita
Jha,
Principal
Associate,
Vaish
Advocate,
Vaish
Associates
https://www.nclt.in
Associates

Mediation and
Conciliation
and
Companies Act, 2013

COMPANIES ACT,
2013:
The Central
Gov. shall442
maintain a
Section

panel of experts to be called as


Mediation and Conciliation Panel
for mediation between parties
during the pendency of any
proceedings before the Central
Govt. or the Tribunal or the
Appellate Tribunal under the new
law.

The Panel shall dispose of the

I.
ALTERNA
TIVE
DISPUTE

Introduction
ADR refers to the other ways that the
parties can use to settle civil
disputes with the help of an
independent third party and without
the need for a formal court hearing.
The main types of ADRs are:
a.Arbitration
b.Negotiations
b.Mediation
c.Conciliation

Salem Bar Association v. Union


of India
If the Court
for one
reasonSC
or the
other cannot
(AIR
2005
3353)
itself effect a
compromise, the only option it would have is
to refer the parties to conciliation etc.

In the historic judgement in Salem Bar Association


v. Union of India, the Supreme Court has directed
the constitution of a committee to frame draft
rules for mediation under S. 89(2)(d) of the CPC.
Consequently, the Committee presided over by Mr
Justice M. Jagannadha Rao, Chairman of the Law
Commission of India has prepared a
comprehensive code for the regulation of ADR
process initiated under S 89 of CPC. which consists
of two parts---Part I: ADR Rules 2003 consisting of

NEGOTIATION
Negotiations occur when two
parties set forth the type of remedy
each desires, and try to reach some
sort of an agreement that satisfies
everyone involved. In the best-case
scenario, negotiations are done
between the parties and both come
to a happy agreement.
Once agreement has been reached,
the parties will create a written

CONCILIATION
Conciliation is limited to
encouraging the parties to discuss
their differences and to help them
develop their own proposed
solutions.
It is voluntary, flexible, confidential
and interest based process. the
parties seek to reach an amicable
dispute settlement with the
assistance of the conciliator, who

CONCILIATION
Section related to conciliation:
i. Commencement of conciliation proceeding u/s 62
of the Act.
ii.After proceedings S.71 cooperation of parties with
conciliator.
iii.S.76 termination of conciliation proceeding.

What cannot be referred to conciliation:


i. Matters of Criminal nature
ii. Illegal transactions
iii. Matrimonial matters like divorce suit etc.

What can be referred to conciliation?


i. Matters of Civil Nature
ii.Breach of Contract

Mediation
The term mediation broadly refers to
any instance in which a third party
helps others reach agreement. more
specifically, mediation has a structure,
timetable and dynamics that
ordinary negotiation lacks.
The process is private and
confidential, possibly enforced by law.
participation is typically voluntary. the
mediator acts as a neutral third party
and facilitates rather than directs the

TYPES OF DISPUTE
SUITABLE FOR
MEDIATION
Mediation is suitable
for resolving a
wide range of
disputes including:

Business and Commercial


Partnership
Family
Workplace
Personal injury
Industrial and Construction

COMPANIES ACT, 2013: Need for


Mediation
and Conciliation

Mediation is assisted negotiation. It is a


flexible process conducted confidentially in
which a neutral party i.e. the mediator,
manages the interaction between disputing
parties to help them come to a negotiated
settlement of the dispute. The disputants
and not the mediator have ultimate control
over the decision to settle and terms of
resolution. The final terms of settlement are
recorded in the form of a binding agreement.
The process is time bound and cost effective.
Confidentiality of the entire process and all
concessions made by parties during

ROLE OF MEDIATOR/
CONCILIATOR UNDER
The mediator/conciliator
shall
attempt to
SECTION
442
facilitate the
following:
voluntary resolution of the dispute(s) by the
parties,
communicate the view of each party to the
other,
assist them in identifying issues,
reducing misunderstandings,
clarifying priorities,
exploring areas of compromise and generating
options in
an attempt to resolve the dispute(s),
emphasizing that it is

An ounce of mediation is
worth a pound of
arbitration and a ton of
litigation! Joseph
Grynbaum

II.
ARBITRATIO
N

Introduction
Arbitration: As per Halsbury s Laws
of England
It means reference of a dispute
between not less than two parties, for
determination, after hearing both sides
in a judicial manner, by a person or
persons other than a court of
competent jurisdiction.
Object of Arbitration
Settlement of dispute in an
expeditious, convenient, inexpensive

Types of Arbitration Practice Institutional


AD HOC ARBITRATION
INSTITUTIONAL
Arbitration
and
Ad
Hoc
ARBITRATION
A. The procedures have to be agreed
A. In institutional arbitration, the
upon by the parties and the
procedural rules are already
Arbitration
arbitrator. This requires co- operation established by the institution. The
between the parties and involves a
lot
of time
B. Infrastructure
facilities for

fees are also fixed and regulated


under
rules ofthe
theinstitution
institution.will
B. In contrast,

conducting arbitration pose a


problem and parties are often
compelled to resort to hiring facilities
of expensive hotels, which increase
the cost of arbitration. Other
problems include getting trained
staff
library
C. Noand
such
panelfacilities
per se isfor ready
reference.
available here.

have ready facilities to conduct


arbitration, trained
secretarial/administrative staff, as
well as library facilities.

C. The arbitral institutions maintain a


panel of arbitrators along with their
profile. The parties can choose the
arbitrators from the panel. Such
arbitral institutions also provide for
specialized arbitrators.
Inspite of the numerous advantages of institutional
arbitration over ad hoc
arbitration, there is currently an overwhelming tendency in India to resort

Evolution of Arbitration
Act Position (1940 Act): This Act was
The Pre-1996
largely premised on mistrust of the arbitral process
and afforded multiple opportunities
to litigants to approach the court for intervention.
Coupled with a sluggish judicial system, this led to
delays rendering arbitrations inefficient and
unattractive.

The 1996 Act: The 1996 Arbitration Act based on


the UNCITRAL on International Commercial
Arbitration and the Arbitration Rules of the United
Nations Commission on International Trade Law 1976
was enacted.
The Statement of Objects and Reasons to the Act said
that the old Act had become outdated and there
was need to have an Act more responsive to

Arbitration and Conciliation


Act, 1996

Part I Domestic
Arbitration
Part II Enforcement of
foreign awards
Part III Conciliation
Procedures
Part IV Supplementary

In spite of Arbitration
being an effective tool
of dispute resolution,
there were various
shortcomings which
were required to be
resolved.

Issues faced under 1996


Act
High costs and delays: Thus, making it no
better than either
the earlier regime which it was intended to
replace.

After the award, a challenge under section 34


makes the award in executable and such
petitions remain pending for several years.
Proceedings in arbitrations are becoming a
replica of court
proceedings.
Appointment and independence of Arbitrators.

Arbitration and
Conciliation
In an attempt to make arbitration a preferred
(Amendment)
Act,
mode of
settlement of commercial
disputes and
2015
making India a hub of international

commercial arbitration, the President of


India on 23rd October 2015 promulgated an
Ordinance ("Arbitration and Conciliation
(Amendment) Ordinance, 2015) amending
the Arbitration and Conciliation Act, 1996.
Prior to the amendment of the Indian
Arbitration and Conciliation Act 1996 (the
Act), Indias journey towards becoming an
international commercial hub that could rival
Singapore and London was hampered by a
largely ineffective Act and an arbitration
regime that was afflicted with various

Amendments
made in
2015
The Law Commission of India had
brought out Report No. 246 in
August 2014,
recommending
various
amendments to the Arbitration &
Conciliation Act, 1996, which
have been incorporated vide

Issues resolved by
Arbitration and
Conciliation
(Amendment) Act,
2015

1. Appointment of
ArbitratorSection
11 of Arbitration and Conciliation
Act, 1996
administrative
power

provided for appointment of Arbitrator by Chief Justice or


any person or institution designated by him. Now, the
powers are with High Court or Supreme Court. Thus,
now, any bench of High Court/ Supreme Court can
appoint Arbitrator.

Section 11(6A) has been inserted to provide that the


Supreme Court or High Court, while considering
application for appointment of arbitrator, shall examine
only existence of arbitration agreement (and not merits of
the case).
Section 11(6B) has been inserted to clarify that
appointment
of
Arbitrator by any person or institution nominated by

2. Independence of
Arbitrator
Neutrality
of arbitrators, viz. their independence
and
impartiality, is critical to the entire process.

Test for neutrality is set out in section 12(3) which


provides
An arbitrator may be challenged only if (a)
circumstances exist that give rise to justifiable
doubts as to his independence or impartiality
The balance between procedural fairness and
binding nature of these contracts, appears to have
been tilted in favour.
Large scale amendments were suggested to
address this fundamental issue of neutrality of

Independence of
Section
12(1) of Arbitration and Conciliation Act, 1996
Arbitrator
expected Arbitrator to make disclosure of his possible
connection or interest

However, the section did not specify any criteria.


Now, fifth schedule has been inserted specifying grounds to
guide on which
independence and impartiality of Arbitrator can be
doubted.
Section 12(5) also inserted by Amendment Act, 2015, which
provides that if arbitrator has interest ( direct or indirect) as
specified in schedule seven of the Arbitration and
Conciliation Act, 1996, he cannot be appointed as Arbitrator,
unless both parties agree in writing, after dispute has
arisen.

3. FEES
OF
ARBITRA
Unilateral and disproportionate fixation
of fees by several arbitrators.
TORS

The subject of fees of arbitrators has been


the subject of the lament of the Supreme
Court in Union of India v. Singh Builders
Syndicate, (2009) 4 SCC 523.
Commission had recommended a model
schedule of fees and has empowered the
High Court to frame appropriate rules for
fixation of fees for arbitrators and for which
purpose it may take the said model

The model fees payable to Arbitrator have


been specified in Fourth Schedule inserted
to Arbitration and Conciliation Act, 1996
vide 2015 amendment. The fee varies
between Rs. 45,000 to Rs. 30 lakhs
depending on the sums in dispute.
Section 11(14) inserted by Amendment
Act, 2015: For the purpose of
determination of the fees of arbitral
Tribunal, the High Court may frame such
rules as may be necessary, after taking

4. CONDUCT OF
ARBITRAL
Commission had
proposed addition of the
PROCEEDINGS
second proviso to section 24 (1) to the Act,

which is intended to discourage the practice of


frequent and baseless adjournments, and to
ensure continuous sittings of the arbitral tribunal
for the purposes of recording evidence and for
argument.
Proviso to section 24(1) of Arbitration and
Conciliation Act,
1996 inserted by Amendment act, 2015.
Hearing of Arbitrator Tribunal should be on day
to day basis
without adjournment.

5. Time Limit for making


awards
Section
29A inserted by Amendment Act,
2015.
The Arbitral tribunal shall make Arbitration
Award
within 12 months from date of reference.
The period can be extended by the
parties upto six months by mutual
consent.
Fees payable to Tribunal can be reduced
upto 5% for
each month of delay.
If award is not made within that period,
the mandate of arbitrator terminates.
However, court can further extend the

6. Fast track procedure for


arbitral award
If both parties agree in writing, the
arbitral
tribunal can follow fast track
procedure.
Decision will be on basis of written
pleadings,
documents and submissions.
Oral hearing will be only to clarify
certain points. Technical
formalities for oral hearing may be
dispensed with by arbitral tribunal.

7. JUDICIARY AND
ARBITRATION

It is thought in some quarters that judicial


intervention is anathema to arbitration, and this
view is not alien to a section of the arbitration
community even in India. The Commission
however, does not subscribe to this view. The
Commission
recognizes that the judicial
machinery provides essential support for the
arbitral process. The paradox of arbitration, as
noted by a leading academic on the subject, is
that it seeks the co-operation of the very public
authorities from which it wants to free itself.
The Commission has strived to adopt a middle
path to find an appropriate balance between
judicial intervention and judicial restraint.

Judicial intervention in
arbitration
proceedings
Judicial intervention in arbitration

proceedings adds significantly to the delays


in the arbitration process and ultimately
negates the benefits of arbitration

Dedicated benches for arbitration related


cases: eg. Delhi High
Court has a separate bench.
Amendment in section 11: Delegate the power of
appointment (being a non-judicial act) to
specialized, external persons or institutions.
Amendment to section 11 (7) made providing that
decisions of the High Court/ Supreme Court
(regarding existence/nullity of the arbitration

Judicial intervention in arbitration


proceedings
(contd..)

section 11 (13) was inserted, which requires the


Court to make an endeavor to dispose of the
matter within sixty days from the service of
notice on the opposite party.

Sections 34 (6) inserted which requires that an


application under those sections shall be
disposed off expeditiously and in any event
within a period of one year from the date of
service of notice
New sub-clause (2A) inserted to section 23 of the
Act in order to ensure that counter claims and
set off can be adjudicated upon by an arbitrator
without seeking a separate/new reference by the
respondent, provided that the same falls within

9. SCOPE AND NATURE


OF PRE- ARBITRAL
JUDICIAL
The
Act recognizes INTERVENTION
situations where the intervention
of the Court
is envisaged at the pre-arbitral stage, i.e. prior to
the constitution of the arbitral tribunal, which
includes sections 8, 9, 11 in the case of Part I
arbitrations and section 45 in the case of Part II
arbitrations.

Supreme Court in Shin Etsu Chemicals Co. Ltd. v


Aksh Optifibre, (2005) 7 SCC 234, (in the context of
section 45 of the Act) ruled in favour of looking at
the issues/controversy only prima facie.
Sections 8 and 11 has been amended restricting
the scope of the judicial intervention only to
situations where the Court/Judicial Authority finds

10.

SETTING ASIDE OF DOMESTIC


AWARDS AND
RECOGNITION/ENFORCEMENT
FOREIGN AWARDS
OF34 of the Act deals with setting aside a domestic
Section
award and a domestic award resulting from an
international commercial arbitration whereas section 48
deals with conditions for enforcement of foreign awards.
The Act, as it is presently drafted, treats all three types of
awards as same.

The legitimacy of judicial intervention in the case of a


purely domestic award is far more than in case of other
awards.

Therefore, Section 34 (2A) was added, to deal with purely


domestic awards, which may also be set aside by the
Court if the Court finds that such award is vitiated by
patent illegality appearing on the face of the award.
In order to provide a balance and to avoid excessive
intervention, it is clarified in the proposed proviso to the
proposed section 34 (2A) that such an award shall not be

Public Policy- Section 34

Object of the Act: Ensure speedy disposal


with minimum court intervention.

Section 34(2)(b)(ii) provides that court can set


aside an arbitral award if the court finds that
the arbitral award is in conflict with the public
policy of India. Similarly, section 48(2)(b)
provides same in case of foreign arbitral
awards.
Challenge: The term public policy is not
defined and under UNCITRAL Model (from where
sec. 34 is derived), the courts were supposed to
act as Courts of Review and not Courts of
Appeal.

Public Policy- Judicial


Interpretation

Supreme Court in Renusagar Power Co. Ltd. vs.


General Electric Co. [(1994 SCC supp. (1) 644]
gave narrow interpretation to term public policy.
Subsequently, SC in ONGC Ltd. vs. Saw Pipes Ltd.
(2003 5 SCC 705) expanded its definition to include
cases of patent illegality.
Criticism: Eminent jurist/ Advocate Fali
Nariman adversely commented on above
judgment.
International view: Enforcement of foreign awards is
regulated by New York Convention (article V(2)(b) and
same was incorporated in section 48 of the Act and
so Act should be interpreted in consonance with the
objectives of NYC that is that the term public policy

Public Policy- Judicial Interpretation


(contd..)
This international view was reflected in Delhi
HC decision in Glencore Grain Rotterdam BV vs.
Shivnath Rai Harnarain (India) Co. [2008] 94
ARB LR 497 (Delhi)].
However, SC in Phulchand exports Ltd. v OOO
Patriot (2011 11 SCALE 475) followed the Saw
Pipes view of expanded interpretation.
Thereafter, SC overruled above decision in Sgri
Lal Mahal Ltd. vs. Progetto Grano Spa (2014) 2
SCC 433 following the narrow interpretation in
Renusagar decision.
Accordingly, 246th report provided for the same

Public Policy- The


Problem

SC in ONGC Ltd. vs. Western Geco International


Ltd. (2014) 9 SCC 263 in para 39 construed the
term fundamental policy of
India very widely incorporating the Wednesbury
principle of
reasonableness.
Same was followed in Associates Builder vs.
DDA (2014) 4 ARBLR 307 SC.
Such power of review of award on merits is
against the international practice and the
Statement of object of 1996 Act which says
minimization of judicial intervention.
This would lead to disastrous effect as:
i. Erosion of faith in arbitration proceedings

Public Policy:
Solution- 2015
Practically, the
Court had become appellate
Amendment
authority over
the arbitral tribunal.

This was not the intention of Arbitration and


Conciliation act, 1996 at all.
Hence, explanations have been added by
Amendment act, 2015 to section 34(2)(b) of
Arbitration and Conciliation act, 1996
restricting the scope of public policy.

Public Policy: Solution2015 Amendment

34(2)(b)(ii) : The arbitral award is in conflict with public policy of


India.

Explanation 1: For the avoidance of any doubt, it is clarified


that an award is in conflict with the public policy of India only
if:
a.making of award was induced or affected by fraud or
corruption or was in violation of section 75 or 81;
b.It is in contravention with the fundamental policy
of Indian Law; or c.It is in conflict with most basic
notions of morality or justice.

Explanation 2: For avoidance of doubt, the test as to


whether there is a contravention with the

Public Policy:
Solution- 2015
Amendment
Further, following sub-clause was inserted:

Section 34(2A): An arbitral award arising out of


arbitrations
other
than
international
commercial arbitrations, may also be set aside
by the Court if the Court finds that the award is
vitiated by patent illegality appearing on the
face of the award.
Provided that an award shall not be set aside
merely on the ground of an erroneous
application of law or re-appreciation of
evidence.

11. Enforcement of arbitral


awards

Under Section 1996 Act, pendency of a section


34 petition
renders an arbitral award unenforceable i.e.
automatic stay of enforcement of the award
upon admission of challenge.

The Supreme Court, National Aluminum Co. Ltd.


v. Pressteel & Fabrications, (2004) 1 SCC 540
had criticized this.
In order to rectify this mischief, certain
amendments have been suggested by the
Commission to section 36 of the Act, which
provide that the award will not become

Enforcement of arbitral
awards

Section 36 of arbitration and Conciliation act,


1996, as amended by the Amendment Act,
2015 specifically provides that the award can
be enforced even if one of the parties has
approached Court for setting aside the arbitral
award, unless specific stay has been granted
by the competent court.
Thus, mere application to Court for setting
aside the arbitral award would not result in
stay for enforcement of the arbitral award.
This is a very good provision to avoid delay in

12. JUDICIAL
INTERVENTIONS IN
Section
2(2) of the Arbitration
and Conciliation Act,
FOREIGN
SEATED
1996 (the Act), contained in Part I of the Act, states
that ARBITRATIONS
This Part shall apply where
the place of
arbitration is in India.

Article 1(2) of the UNCITRAL Model Law provides: The


provisions of this Law, except articles 8, 9, 35 and 36,
apply only if the place of arbitration is in the
territory of this State
Supreme Court in Bhatia International vs. Interbulk
Trading SA, (2002) 4 SCC 105, and before the five-judge
Bench in Bharat Aluminum and Co. vs. Kaiser Aluminium
and Co., (2012) 9 SCC 552 (hereinafter called BALCO)
was whether the exclusion of the word only from
the Indian statute gave rise to the implication
that Part I of the Act would apply even in some
situations where the arbitration was conducted

JUDICIAL INTERVENTIONS IN
FOREIGN
SEATED ARBITRATIONS
The above issues
have
been
addressed
by
(contd.)

way of
adding a proviso to sections 2(2) of the
Act:
Provided that subject to an agreement to
the contrary, the provisions of sections 9,
27, and 37(3)(1)(a) shall also apply to
international commercial arbitration, even if
the place of arbitration is outside India, and
an arbitral award made or to be made in
such place is enforceable and recognize
under the provisions of Part II of this Act.

13. POWERS OF TRIBUNAL


TO ORDER
INTERIM MEASURES
Under section 17, the arbitral tribunal has the power to
order interim
measures of protection, unless the
parties have excluded such power by agreement.

However, its efficacy is seriously compromised given


the lack of any suitable statutory mechanism for the
enforcement of such interim orders of the arbitral
tribunal.
Delhi High Court attempted to find a suitable
legislative basis for enforcing the orders of the
arbitral tribunal under section 17 in the case of Sri
Krishan v. Anand, (2009) 3 Arb LR 447 (Del).
However, above is not suffice and therefore the
Commission has recommended amendments to section
17 of the Act which would give teeth to the orders of

14. Other Amendments


Arbitration agreement through emails
Section 7 has been amended to make specific
provision that arbitration agreement can be
made through electronic communications.
Interim measures by Court
Section 9 has been amended to provide that if
Court grants interim relief, Arbitration should
commence within 90 days.
Further, once arbitration tribunal has been
constituted, the Court shall grant interim relief
only if the Arbitral Tribunal itself cannot grant
relief under section 17 of Arbitration and
Conciliation Act, 1996.
Section 17 of Arbitration and Conciliation Act,
1996 as amended by Amendment Act, 2015
gives wide powers to Arbitral tribunal to

Other Amendments
Interest on amount payable under arbitration award
Interest at the rate of 2% higher than the current rate of
interest prevalent on the date of award, from the date of
award to the date of payment. The expression current
rate of interest shall have the same meaning as
assigned to it under section 2(b) of the Interest Act,
1978. The earlier provision was for payment of interest
@18%.
Cost of Arbitration
Section 31A of Arbitration and Conciliation Act, 1996 as
inserted by Amendment Act, 2015 contains detailed
guidelines on determination and award of costs to the
successful parties.
As per provisions of section 31A(5), an agreement to
pay whole or part of costs of arbitration in any even
shall be valid only if such agreement is made after
dispute has arisen.

Other Amendments
Appeal if Court refuses to refer parties to
arbitration
Section 37(1)(a) of Arbitration and Conciliation
Act, 1996 as inserted by the Amendment Act,
2015 now provides that appeal can be filed
before appellate Court if the Court refuses to
refer parties to arbitration.
There was no parallel provision earlier.
Enforcement of foreign awards and Geneva
convention awards
Explanation to Section 47 inserted by the
Amendment Act, 2015 now provides that only High
Court can be approached for enforcement of
foreign award.

III.
Company
Secretary &
ADR

ROLE OF A COMPANY
SECRETARY

The Companies Act, 2013 has considerably


enhanced the role
and responsibilities of
company secretaries both in employment and in
practice.
Company secretary is a key managerial person in
responsible
to ensure the effective and
a company,
efficient
administration of the company and certifying the
companys compliance with the provision of the
Act.
Section 205 has also been added in the
Companies Act, 2013. According to Section 205
of the Companies Act, 2013 the
Company
Secretary shall discharge following functions and
duties, this is the first time that the duties of the
company secretary have been specified in
the company
law.

New Horizons for CS in


Practice under
The Companies Act, 2013

Corporate Restructuring & Insolvency


Company Liquidators & Professional assistance
to them [Sec.275] [Sec.291]
Appointment as an Administrator [ Sec.259]
Technical member of NCLT [Sec.409]
E- Filing
Voting through electronic means [Sec.108]
Adjudication of penalties [Sec.454]
Mediation & conciliation Panel [Sec.442]

Role Of a Company
Secretary As a
or Conciliator
The Mediator
Central Government
is to maintain

a
panel of experts to be called as Mediation
and Conciliation Panel for mediation
pendency
of any
proceedings
between parties
during the
Government
Tribunal or the Appellate
before the or the
Central
Tribunal
under the new law.
Rules
in respect of Section 442 provide
for
qualifications for being appointed in the
Mediation and Conciliation Panel and
states: Rule 28.1(g): Professionals with at least
fifteen years of continuous practice as
appointed
in
the Cost
Chartered Accountant
or
Accountant or Company Secretary
panel.

Role Of a Company
Secretary As a
Mediator or Conciliator

The Company Secretaries are authorized to


advise on arbitration, negotiation and conciliation
in commercial disputes between the parties.
A Company Secretary is trained to Act
as arbitrator / conciliator in domestic
and international commercial disputes.
Company Secretaries are also qualified to
Draft
arbitration / conciliation agreement/ clause.

Advantages of a Company
Secretary
in the secretaries
Arbitration
process
Company
are not only

corporate legal experts but due to the


very nature of profession, their knowledge
is far superior in respect of commercial
understanding. They have an edge in the
sense that they understand the underlying
commercial transaction or the legal
framework in a more effective manner.
Since they are exposed to various facets of
law and the management, they can
formulate a better strategy in arbitral
proceedings while advising to the client.
Thus company secretaries in practice can

CONCLUSION
Thus, CS can act as arbitrators and the society
can get the
benefit of their knowledge and
expertise in commercial and legal matters.
The Institute can also make representations to the
Government through proper channels so as to
encourage appointment of company secretaries
as arbitrators.
This is possible only after an awareness is created
among the
society about this new role of
company secretaries. Apart from the Institute,
even the company secretaries in practice can
help in creating this awareness in the society. If
this happens, the day is not far when even the
Chief Justices of the various High Courts will
appoint company secretaries as arbitrators under

THANK
YOUFor more updates
associated with
Mediation & Conciliation
And Companies Act 2013
NCLT - New
Corporate
Laws
https://www.nclt.in
/ Treatise
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