INVESTOR-STATE ARBITRATION under BILATERAL INVESTMENT TREATIES (BITs) typically uses:
Answer & Solution
Correct answer: B.
1. INVESTOR-STATE ARBITRATION under Bilateral Investment Treaties (BITs):
2. ICSID (International Centre for Settlement of Investment Disputes):
3. (i) Established under the CONVENTION ON THE SETTLEMENT OF INVESTMENT DISPUTES BETWEEN STATES AND NATIONALS OF OTHER STATES 1965 (ICSID Convention);
4. (ii) Administered by World Bank Group, Washington DC;
5. (iii) DESIGNED for ICSID arbitration between foreign investors and host states.
6. UNCITRAL Rules — for ad hoc investor-state arbitration without ICSID.
7. OTHER INSTITUTIONS: SIAC, ICC, PCA (Permanent Court of Arbitration).
8. INDIA's RELATION with BITs:
9. (i) Signed 80+ BITs since 1994;
10. (ii) Faced ARBITRAL CHALLENGES in cases like White Industries v India (2011) — first BIT award against India;
11. (iii) MODEL BIT REVISED 2016 — narrowing investor protections;
12. (iv) TERMINATED most existing BITs in 2017 (planned 84 terminations);
13. (v) INDIA is NOT a party to ICSID Convention.
14. Hence option B is correct.
_Source: Arbitration and Conciliation Act 1996 (Bare Act) + Mediation Act 2023 — ICSID Convention 1965; Bilateral Investment Treaties (BITs); India's BIT framework_
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