Arbitration deserves to be treated as an independent adjudicatory mechanism.
Justice S S Nijjar, Former Supreme Court Judge has said that, “The Courts have increasingly become in the interfering in the awards which are passed by the arbitrators, which frustrates the very purpose of having the alternative dispute resolution system”.
Justice S S Nijjar said that should be the mainstream dispute resolution mechanism, he said in his address at the seminar on ‘International Arbitration in India: Changes & Challenges’, which was organized jointly by the Indian Council of Arbitration (ICA) and also FICCI,
Justice Nijjar further said that whether India is to be seen as a nation having a mature and effective arbitration regime, then arbitration should be treated as independent mechanism.
Justice Nijjar enunciated that, “The Amendments made to the Arbitration & Conciliation Act, 1996 are salutary and are with an aim to make India as an attractive investment destination, but this may not be possible to adhere to all strict standards which have been prescribed.
He also noted that the amendments to the Arbitration Act will boost the investor confidence in India. He had advocated rigorous adoption of the the amendments for better international arbitration practices, for making India a global investor hub.
Related News @ LatestLaws.in-