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‘Arbitral judicial system can
be alternative to regular courts’
DH News Service BANGALORE, Nov 23
In the wake of globalisation, arbitral
justice system has become a must for a country like India which has so far
lagged behind in implementing the system, observed Karnataka Lokayukta
Justice N Venkatachala. The much-needed system which deals mainly with
financial disputes of the private sector, can be an alternative to the
regular courts, ensuring a quick, inexpensive, confidential, fair and
final solution to settling disputes.
Delivering the inaugural
address at a seminar on “The dimensions of Arbitration in Hi-Tech Age and
The Role of Corporate Entities, Chartered Accountants and ADR Instituions
for Administering Arbitration” organised by Arbitration and Mediation
Centre (India) Pvt Ltd, Justice Venkatachala suggested that the
deliberations of the seminar should throw light on arbitration laws and
how they can be useful to the general public.
He said the proposed
amendment bill 2001, if passed by the Parliament would rectify many
defects present in the existing system. There are certain negative aspects
in the arbitrary system which if cured by the bill can provide a foolproof
judicial system for the private sector and give more powers to the
arbitrators (judges), he said.
Speaking on the topic “An overview of
arbitral justice system”, Justice Venkatachala recalled the sequence of
evolution of the Arbitration Act, from 1890 to 1940 and how the Act was
passed in 1996.
He recalled the meeting attended by the Chief
Justice of India, Chief Justices of High Courts and chief ministers from
different states of India, following recommendation by Justice Malimath
committee in 1990, which subsequently paved the way for the enactment of
the Act in 1996. The decision came close on the heels of economic reforms
which started around the same time, he said.
Advocate General of
Karnataka, A N Jayaram, who spoke on “The role of State in the
implementation of arbitral and conciliatory adjudication”, sought to
explain how public dispute resolution system (regular courts) can help the
private dispute resolution system (arbitration). He explained how
arbitration functioned in countries like England and the
US.
It may be stated here that many states have begun
experimenting with Alternative Dispute Resolution (ADR), which refers to
any means of settling disputes outside of the courtroom. ADR is the name
used to describe the different methods now available for resolving
disputes. The two most common forms of ADR are arbitration and
mediation.
Promoters of ADR programmes have been driven by
burgeoning court queues, rising costs of litigation and time delays which
continue to plague the litigants. |
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