'Arbitration not meant to mirror litigation', CJI bats for India as an International Arbitration hub. Read Speech

Chief Justice&nbsp;Sharad Arvind Bobde, pic by: Hindustan Times

10 Feb 2020

Categories: Latest News Arbitration

Chief Justice of India (CJI), Justice Sharad Arvind Bobde on Friday said that arbitration is not meant to mirror litigation.

Institutional arbitration has met with limited success in India, the CJI was quoted as saying at the Indian Council of Arbitration (ICA) '3rd International Conference on Arbitration In The Era of Globalization'.

It is a well-known fact that Indian parties still show a strong preference for Adhoc over institutional arbitration, he said.

The Chief Justice of India said it is clear that for institutional arbitration to expand its footprint in India, it would require concerted support from all stakeholders, in particular members of the legal profession.

Justice Bobde was quoted as saying, according to a statement:

"A robust arbitration bar is critical to the development of institutional arbitration in India as it would ensure availability and accessibility of practitioners with knowledge and experience in the field of arbitration,"

He added that with the sheer diversity and quantum of matters being submitted to arbitration, the presence of a specialist arbitration bar with members who have not migrated from the general bar, who are working in close coordination with competent arbitral institutions is imperative.

Justice Bobde, while emphasizing on adopting Artificial Intelligence said, "As we conceptualize international arbitration in a globalized era, we must also be cognizant of the synergistic opportunities available for international arbitration through the utilization of disruptive technologies."

He further said:

"Pre-litigation mediation is critical to resolve disputes and reduce the stress on courts and the judicial system. We must structure courses and programmes to certify professionals in mediation."

Dr. Sangita Reddy, President, FICCI, said that arbitration is the answer to expeditiously resolving business and commercial disputes.

"Arbitration should be made more effective by minimizing court intervention in the arbitral awards. Certain steps have already been taken through the interpretation of the Act by the Apex Court but more needs to be done," Dr. Reddy said.

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