Society For Affordable Redressal Of Disputes News

India's Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved amendments in the Model Concession Agreement (MCA) to make the Port Projects more investor-friendly and make investment climate in the Sector more attractive. The amendments in the MCA envisage constitution of the Society for Affordable Redressal of Disputes - Ports (SAROD-PORTS) as dispute resolution mechanism similar to provision available in Highway Sector. The other salient features of the revised MCA include providing exit route to developers by way of divesting their equity up to 100 per cent after completion of two years from the Commercial Operation Date(COD).