The Lok Sabha today passed the Arbitration and Conciliation (Amendment ) Bill,2015 by voice vote for speedy disposal of arbitration cases. The bill states that the Arbitrator will have to settle a case award within 12 months and if parties agree, the timeline may be extend for a period six more months.<br/><br/>Replying to a debate on the bill, Law Minister D V Sadananda Gowda said, the intention of the legislation is to give new dimension to legal system and disposal mechanism. He said, it will help ensure user-friendly and cost-effective arbitration process as well as speedy disposal of cases. <br/><br/>He said, to check exorbitant charges by the arbitrators, the fee structure for the arbitrators related to the cases have been prescribed. The Law Minister said, a provision has also been provided to fast track the disposal of cases within six months if the parties agree. The legislation will improve the ease of doing business and help India climb in the World Bank's rankings related to enforcement of contractual obligations.