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New Arbitration Rules notified to Streamline MSME Dispute Resolution admin June 25, 2024

New Arbitration Rules notified to Streamline MSME Dispute Resolution

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New Arbitration Rules notified to
Streamline MSME Dispute Resolution


The Centre for Regulation of Disputes in the Micro, Small and Medium Enterprise Facilitation Council (MSME-RADIC) has notified new regulations to streamline the arbitration process for disputes referred by the Facilitation Council under the MSME Development Act, 2006.
The key highlight of the MSME Arbitration Rules, 2024 is the introduction of a fast-track procedure aimed at delivering arbitration awards within 6 months through a written submissions process, with oral hearings only if required.
The Rules detail the procedure from initiation to award, including submission of claim and defence statements, appointment of sole arbitrators, interim relief provisions, confidentiality requirements, and a schedule of fees based on dispute amounts.
Some of the other key aspects include: 30 days for parties to file their initial pleadings, with allowance for amendments; mandatory disclosures by arbitrators on any conflicts of interest; flexibility to hold proceedings physically, electronically or in hybrid mode; provisions for partial, consent and reasoned awards.
The Rules will apply to any new MSME cases referred by the Facilitation Council from June 1st, 2024 onwards.
Their actual impact on reducing delays and costs for India's vital MSME sector remains to be seen.


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