<span style="color: #222222;">President Ram Nath Kovind has given his nod to the the Arbitration and Conciliation (Amendment) Act 2019. </span><br />'' <br />'' <span style="color: #222222;">A Gazette Notification to this effect was issued by Ministry of Law and Justice today. The Parliament had passed the bill in just concluded budget session. <br />'' <br />''  The bill provides for a time-bound settlement of disputes as well as accountability of the arbitrator. </span><br />'' <br />'' <span style="color: #222222;">It also seeks to establish an independent body called the Arbitration Council of India for the promotion of arbitration, mediation, conciliation and other alternative dispute redressal mechanisms. The Council would be mandated to frame policies for grading arbitral institutions and accrediting arbitrators.</span>