{"id":49523,"date":"2025-06-07T13:47:10","date_gmt":"2025-06-07T08:17:10","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=49523"},"modified":"2025-06-10T10:47:33","modified_gmt":"2025-06-10T05:17:33","slug":"indian-council-of-arbitration","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/indian-council-of-arbitration\/","title":{"rendered":"Indian Council of Arbitration"},"content":{"rendered":"<h2>Indian Council of Arbitration Latest News<\/h2>\n<p>The Indian Council of Arbitration (ICA) organized the 3rd edition of its International Conference on \u201cArbitrating Indo-UK Commercial Disputes\u201d during the London International Disputes Week (LIDW) 2025.<\/p>\n<h2>About Indian Council of Arbitration<\/h2>\n<ul>\n<li>It is one of the oldest\u00a0<strong>arbitral institutions in India<\/strong>.<\/li>\n<li>It was established in 1965 as a\u00a0<strong>specialized arbitral body<\/strong>\u00a0at the national level under the initiatives of the\u00a0<strong>Government of India and apex business organizations FICCI.<\/strong><\/li>\n<li>It is a registered society under the\u00a0<strong>Societies Registration Act, 1860<\/strong>, operating on a\u00a0<strong>not-for-profit basis.<\/strong><\/li>\n<li><strong>Objective:<\/strong>\u00a0The main objective of ICA is to promote\u00a0<strong>amicable, quick and inexpensive settlement<\/strong>\u00a0of commercial disputes by means of arbitration, conciliation, regardless of location.\u00a0<\/li>\n<li><strong>Function:<\/strong>\u00a0The core function of ICA is the\u00a0<strong>cost effective<\/strong>\u00a0and efficient administration of\u00a0<strong>arbitration proceedings.<\/strong><\/li>\n<li>The ICA has its own set of procedural rules which govern the conduct of the entire arbitration proceedings, from its commencement to its termination.<\/li>\n<li>In addition, ICA is tasked with the mission of promoting and building capacity in the area of ADR (Alternative Dispute Resolution).<\/li>\n<li>It acts as a specialized arbitral body at the national level under the initiatives of the Govt. of India and apex business organizations like FICCI etc.<\/li>\n<li><strong>Head office:<\/strong>\u00a0New Delhi<\/li>\n<\/ul>\n<h2>Indian Council of Arbitration FAQs<\/h2>\n<p><strong>Q1:<\/strong>\u00a0What is the role of the Indian Council of Arbitration?<\/p>\n<p><strong>Ans:<\/strong>\u00a0The core function of ICA is the cost effective and efficient administration of arbitration proceedings.<\/p>\n<p><strong>Q2:<\/strong>\u00a0What is the difference between conciliation and arbitration?<\/p>\n<p><strong>Ans:<\/strong>\u00a0Arbitration involves a neutral third party rendering a legally binding decision after considering the arguments of both parties, while conciliation revolves around a mediator facilitating communication and negotiation to help the parties reach a mutually acceptable agreement.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2134351\" target=\"_blank\" rel=\"nofollow noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Established in 1965, the Indian Council of Arbitration is a national-level arbitral body formed by the Government of India and apex business body FICCI.<\/p>\n","protected":false},"author":8,"featured_media":49496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[738],"class_list":{"0":"post-49523","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-indian-council-of-arbitration","9":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/49523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=49523"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/49523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/49496"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=49523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=49523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=49523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}