• The model fees payable to Arbitrator have been specified in Fourth Schedule inserted to Arbitration and Conciliation Act, 1996 vide 2015 amendment. The fee varies between Rs. 45,000 to Rs. 30 lakhs depending on the sums in dispute. • Section 11(14) inserted by Amendment Act, 2015: For the purpose of determination of the fees of arbitral Tribunal, the High Court may frame such rules as may be necessary, after taking into consideration the rates specified in the Fourth Schedule.
Mediation and conciliation and companies acts, 2013 - NCLT
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