Report No. 176
2.31.1 Proposal for panel of arbitrators by the Chief Justice of India:
Section 42A - accepted It has been suggested that a scheme for empanelling arbitrators must be prepared by the Chief Justice of India. It has been suggested that under the scheme all retired judges of the Supreme Court shall be included and that a list will be prepared from among some of the retired judges of the High Court. The scheme may provide that they be paid such remuneration and allowances or prerequisites as the Chief Justice of India will determine for a contract period of (say) two years or so.
The Chief Justice of India may decide the fixed remuneration is to be paid. During the period, those in the panel are available for being nominated as arbitrators. It will be for the Chief Justice of India to work and other details of the scheme. One suggestion is that parties need not pay fee to these empanelled arbitrators during the contract period. The Commission recommends the insertion of the following new section 42A after section 42 of the principal Act:
2.31.2 After section 42 of the principal Act, the following section shall be inserted, namely:
"42A Scheme for panel of arbitrators:
The Chief Justice of India, may prepare a scheme, for constituting a panel of arbitrators to enable either the parties or the Supreme Court or the High Court under section 11 or the judicial authority under section 8 or the courts referred to in section 8A or the parties under section 43A ,as the case may be, to appoint arbitrators from such a panel subject to such conditions as may be specified by the Chief Justice of India in that scheme."