Bar panel plan for speedy disposal of corporate cases
In the wake of foreign investors’ reluctance to approach the Indian courts for resolution of their disputes arising out of investment ventures due to lengthy legal process, the National Bar Association of India (NBAI) has come out with an idea to promote alternative dispute resolution mechanism for settling of the corporate cases speedily. The NBAI would exhort its members to go for resolution of such cases coming to them through ADR to ensure as it would certainly help in lifting the slumping spirit of foreign investors, its spokesperson Amit Tete stated.
In order to promote the idea among the lawyers, the body has called a conference in the national capital on July to promote the ADR system for speedy disposal of the cases, particularly the corporate disputes. “As the burden on Indian courts surmounts, ADR offers hope to get fair and speedy justice. Corporate/individuals in India are reluctant to approach the legally system due to fear of unpredictable, protracted and uncertain litigation,” the NBAI said.
Even the lawyers were not keen to take up the civil case as they take years to get finality while fee structure in such matters is reducing. “Speedy Justice: The Pill is Alternative Dispute Resolution” will be the theme of the conference, NBAI said.
“Keeping some of the problems of lawyers, litigants and courts in mind, NBAI is starting an arbitration and mediation centre with a focus on reducing costs and providing speedy justice,” its spokesperson said.
Several legal luminaries are being roped in to deliberate upon the ADR, Indian law perspective, ADR in corporate sector, the value and benefit of it, drafting of the ADR clauses, and the legal do’s and don’ts under the system.
The lawyers’ body cited the example of several western courtiers where the system of ADR has become very popular, particularly the among corporate entities for speedy resolution of their disputes with a much lower cost.
Post new comment