INTERNATIONAL COMMERCIAL ARBITRATION IS A NEED OF AN HOUR IN INDIA TO GROW – JUSTICE A.R. JOSHI

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Pune – FORMER JUDGE, BOMBAY HIGH COURT HON’BLE MR. JUSTICE A.R. JOSHI speaking at legal discourse on “ARBITRATION AS A CAREER” organized by Bharati Vidyapeeth’s New Law College, Pune as on Monday, said, “India is
not an international arbitration hub, there is a lack of international arbitration and arbitration in India. Justice Mudgal in his interview stated that ‘there is no such institution for arbitration, even arbitration can be conducted in a hotel room. Lawyers have choice to have become arbitrators
in Singapore, Hongkong, etc. Arbitrators should not be a ‘YES’ lawyers but should be a judge and not a lawyer. An Arbitrator should be impartial, he should show caliber and thorough in facts of the case. Unless you become a good lawyer you cannot become a good judge. Arbitration, conciliation and mediation as an ADR helps for speedy disposal of cases, minimum
pendency of cases. Arbitration and Conciliation Act, 1996 is badly drafted and for this reason Arbitration is not prospering as such. Disposal of cases in one year for arbitration are binding and it can be extended up to 6 months. Arbitration process should be expeditiously conducted,
for that cooperation from parties is essential. Powers of judges and arbitrator are not equal in all senses arbitral award has less legal bindingness and can be challenged. Concept of arbitration
is growing fast, there is no stamp duty only arbitration fees to be paid and speedy disposal of cases.”

He further quoted, “Sec. 29 (a), 21, 37, 11 of Arbitration and Conciliation Act, 1996. An arbitrator should have integrity, dignity and impartiality. Lawyers should not run behind clients let client run behind you.”

Prof. Dr. Mukund Sarda stated that, “There is a need in India for International Commercial Arbitration and International Investment Arbitration’. Arbitration is good option for career for young lawyers.”

The legal discourse was inaugurated at the auspicious hands of Hon’ble Mr. Justice A.R. Joshi, Prof. Dr. Mukund Sarda Dean and Principal New Law College, Pune.

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