The Arbitration and Conciliation (Amendment) Act, 2021. This act received Parliamentary assent on 10/03/2021 replacing the Arbitration & Conciliation (Amendment) Ordinance, 2020 promulgated by the President of India on 4th Nov 2020.

Solution

As per the Eighth schedule of the 2019 Amendment to Arbitration & Conciliation Act the necessary qualification of an arbitrator are- An arbitrator shall be a person of general reputation of fairness, integrity and capable of applying objectivity in settlement of disputes. An arbitrator must be impartial and neutral and avoid entering into any financial business or other relationship that is likely to affect impartiality or might reasonably create an appearance of partiality or bias amongst the parties. An arbitrator should avoid any potential conflicts and the arbitrator should be capable of suggesting, recommeding or writing a reasoned and enforceable arbitral award in any dispute which comes before him for adjudication.