Section 21 of IIAC : Section 21: Chief Executive Officer

Explanation using Example

Imagine a situation where a large multinational corporation and an Indian company have a dispute regarding a breach of contract. They have agreed to resolve their disputes through arbitration at the India International Arbitration Centre (IIAC). The Chief Executive Officer (CEO) of the IIAC plays a crucial role in this scenario. As per Section 21(1) of the India International Arbitration Centre Act, 2019, the CEO is responsible for the day-to-day administration of the Centre. This means the CEO ensures that the facilities are prepared for the arbitration hearings, the arbitrators have the necessary support, and the proceedings go smoothly without administrative hiccups.

The CEO's qualifications and service conditions are governed by Section 21(2), which states they are specified by the regulations. Therefore, the CEO would have been appointed based on a set of criteria ensuring they are capable of handling the complexities of managing the Centre.

Lastly, under Section 21(3), the CEO has specific powers and responsibilities that may be outlined in the regulations of the Centre or delegated by the Centre itself. For example, the CEO may be given the authority to negotiate and sign agreements with vendors for catering services during the arbitration proceedings or to hire additional staff during times of high case volume.