New Delhi: Justice Minister Kiren Rijiju said on Tuesday that India’s judicial system plays a pivotal role in promoting alternative dispute resolution mechanisms, particularly in arbitration and mediation, and that the country’s courts have always Adopted an arbitrage-friendly approach that built trust among stakeholders.
The Union Minister noted in the presence of India’s Chief Justice NV Ramana that the Supreme Court has recently cleared the way for the enforcement of emergency arbitral awards in India in the Amazon-Future Group case.
“So the Indian judiciary has always been proactive in promoting the ADR mechanism and this has built confidence among stakeholders,” Rijiju said in his keynote address at the conference on “Indo-British Commercial Dispute Arbitration which is held in London.
“In the presence of CJI, I take this opportunity to inform that the Indian judicial system plays a central role in promoting ADR mechanisms, in particular arbitration and mediation. Indian courts have always taken a pro-arbitration approach.
“Recently, the Supreme Court of India paved the way for the enforcement of emergency arbitral awards in India and seated arbitrations in the Amazon-Future Group case. Thus, the Indian judiciary has always been proactive in promoting the ADR mechanism and this has built the confidence of stakeholders,” he said.
According to the text of the speech made available by the Ministry of Justice, Rijiju said that while India had made great strides in the areas of development and governance at the national level, it had left a mark by encouraging cooperation. between countries globally.
In this context, he noted that for the first time, India will assume the chairmanship of the G-20 from December 1 this year to November 30, 2023, culminating in the holding of the G-20 Summit in India in 2023.
“As we know, the G-20 countries, of which India is a founding member, play a strategic role in ensuring future global economic growth and prosperity. To achieve this goal, continued exercise is needed in the respective jurisdictions, among others, to strengthen contract enforcement and related alternative dispute resolution mechanisms. Such measures will promote increased economic and financial cooperation between different countries,” he said.
The Minister said he strongly believes that the Mediation Act will prove to be an essential reform to ensure full recognition of mediation and enable the growth of a culture of amicable dispute resolution outside the courts.
“A successful settlement not only helps preserve the relationship between the parties providing an ease of life, but also contributes to the growth of the economy,” he said.
To keep pace with current developments in the field of arbitration and to enable arbitration to become a viable dispute resolution mechanism, the Indian Arbitration Act underwent significant amendments in 2015, 2019 and 2021.
“The amendments to the law signal a paradigm shift to ensure the expeditious conclusion of arbitration proceedings, minimize judicial intervention in the arbitral process and the enforcement of arbitral awards. The amendments further aim to promote arbitration institution, update the law to reflect global best practices, and resolve ambiguities, thereby establishing an arbitration ecosystem where arbitration institutions can thrive,” said Rijiju.
He also said that the legislative framework has been activated to promote institutional arbitrations through the proposed establishment of the Arbitration Council of India (ACI) which would classify arbitration institutes in the country. -PTI
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