Mediation & Conciliation
Ministry of Corporate Affairs has come up with Companies ( Mediation and Conciliation ) Rules, 2016 which provides rules and guidelines for empanelment as Mediators or Conciliators.
The mediator/conciliator shall attempt to facilitate voluntary resolution of the dispute(s) by the parties, and communicate the view of each party to the other, assist them in identifying issues, reducing misunderstandings, clarifying priorities, exploring areas of compromise and generating options in an attempt to solve the dispute(s), emphasizing that it is the responsibility of the parties to take decision which affect them; he shall not impose any terms of settlement on the parties.
The Highlights of Companies ( Mediation and Conciliation ) Rules, 2016
1. Regional Director shall prepare a panel of experts, willing and eligible to be appointed as mediators or conciliators.
2 The Regional Director shall invite applications from persons interested in getting empanelled as mediator or conciliator every year during the month of February and update the Panel which shall be effective from 1st of April of every year”
3. For the FY 2016-17, the Regional Director may call for application within 60 days from the date of publication of these Rules and prepare the panel for the current Financial Year within 30 days.