Press Release

India can become the hub of arbitration, says Former Chief Justice of India

23 April 2022, New Delhi: “India should make more efforts to ensure faster delivery of justice through ODR (Online Dispute Resolution) technology with minimized risks,” said Chief Guest Justice (Retd.) Dipak Misra while speaking at the national conference on ‘Ease of Justice in India: Future of Arbitration, Mediation, and Conciliation’. Organised by the apex industry body, Associated Chambers of Commerce and Industry of India (ASSOCHAM), the interactive session focused on the emerging developments, trends, and challenges confronting the existing framework and ecosystem of arbitration and mediation and its potential in the future. 

The former Chief Justice of India (CJI) touched upon the fact that since all parties have diverse personalities in the case according to law, the notion of Alternative Dispute Resolution (ADR) should be satisfactory. “Arbitrators, conciliators, and mediators should all look for a solution based on truth. The conception behind the law should be a win-win situation; it should be a balance of empathy and the humane,” he added. He also stressed that ‘mediation's wisdom is in dealing with pain through mediation process’. 

While elaborating on why commercial issues should ‘be settled through mediation’ and ‘a high-quality conclusion’, Justice (Retd.) Misra said, “The outcome of the lawsuit brings about communal harmony, peace, and societal balance or stability, all of which promote economic growth. Similarly, mediation success leads to excellent governance in society.” Everybody is keenly waiting for the mediation bill 2021, which focusses on pre-litigation mediation. 

Guest of Honour, Justice J.R. Midha, former Judge of Delhi High Court, spoke about ADR, which is designed to make the justice system more efficient. “We're exploring other dispute resolution systems, because there are so many cases that are pending,” he said. He added, “So many advancements are taking place outside of India, particularly in the commercial sector. In the long run, a judicial delay in these cases will have an impact on the economy.” 

Justice Midha also said, “Fixing the time restriction in arbitration disputes was a significant development recently in the Indian law. In the last ten years, arbitration law has progressed tremendously, thanks to the development of a practical platform.” 

At the same event, Adv. K K Sharma, Chairman, ASSOCHAM National Council for Arbitration and Mediation, and Senior Advocate in Practice, Supreme Court of India, addressed technology’s role in judiciary. “Adapting to artificial intelligence and cloud systems has been a game-changer in arbitration and the realm of justice. With the increased number of pending case, it has proved to be time saving and cost-efficient,” he said. He also recommended the need to reduce the pressure on courts, and advocated for third-party litigation funding. 

Ashok Haldia Chairman, Indian Institute of Insolvency Professionals Of ICAI (IIIPI) & ASSOCHAM Task Force Chair for Accounting Standards, spoke about the need for the government to come out with alternative solutions to settle disputes by involving two-party communication to achieve the purpose in fair and transparent manner. He added that 17% of total cases in IBC are withdrawn and taken in settlement. 

The session came to a conclusion with a vote of thanks by Basudev Mukherjee, Assistant Secretary General, ASSOCHAM. Other esteemed panelists in the technical session were Adv. GP Madaan Managing Partner, Madaan Law Offices; Mr. Raman Aggarwal Founder & CEO, Jupitice Justice Technologies Private Limited; Adv. Venket Rao Founder and Managing Partner, Intygrat Law Offices; Mr. Gagan Puri Managing Director – Disputes and Investigations, Alvarez & Marsal India; Mr. Michael Dias Secretary, The Employers Association, Delhi; Ms. Deepa Agarwal Associate Partner, S.R. Batliboi & Associates LLP.