Abstract
This article examines the relationship between the Fifth and Seventh Schedules of the Arbitration and Conciliation Act, 1996 and the IBA Guidelines on Conflicts of Interest in International Arbitration. It argues that while India’s incorporation of the IBA Application Lists into its arbitration statute enhanced certainty regarding arbitrator independence and impartiality, it has also created a problem of legislative lag as the Guidelines have evolved through subsequent revisions. Analysing the Supreme Court’s decisions in HRD Corporation v GAIL and Avitel v HSBC, the article contends that courts should refer to the most recent edition of the IBA Guidelines as a statement of contemporary international standards, while legislative reform remains necessary to ensure that the Indian arbitration framework remains aligned with global best practices.
Recommended Citation
Ajitsaria, Ritika
(2026)
"FROZEN IN TIME? THE INDIAN ARBITRATION ACT, THE IBA GUIDELINES ON CONFLICTS OF INTEREST, AND THE CHALLENGE OF LEGISLATIVE LAG,"
National Law School Business Law Review: Vol. 12:
Iss.
1, Article 6.
Available at:
https://repository.nls.ac.in/nlsblr/vol12/iss1/6