This article coming in economic times shows how corporate India are takin steps to create India to be a top destination for Arbitration like Dubai and Singapore......
but we should find methods to improve the existing mechanisms for Arbitration and other ADR Methods work within India itself ie in other words for making ADR work for Indian transactions especially those involving common people...... it is here the government should come out with concrete solutions and plans...... this would bring out a significant change in the justice delivery system........
but we should find methods to improve the existing mechanisms for Arbitration and other ADR Methods work within India itself ie in other words for making ADR work for Indian transactions especially those involving common people...... it is here the government should come out with concrete solutions and plans...... this would bring out a significant change in the justice delivery system........
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http://economictimes.indiatimes.com/News/Economy/Policy/India_set_to_emerge_as_hub_for_international_arbitration_/rssarticleshow/3445638.cms
India to be the hub of International COmmercial Arbitration? Becoming a 'hub' of commercial arbitration is not a joke. It is not that one fine day, the Parliament comes up with a legislation and india becomes a HUB for ICA. The entire system- arbitrators, parties, judges, courts, academics should work towards that aim. It is not that London, France, Singapore, Hong Kong or New York became hubs merely because of good statutory backing. To give a good example, see Delhi Development Authority v. RS Sharma, the recent Supreme COurt decision on Section 34 of the Arbitration and COnciliation Act, 1996. For those who follow Indian Arbitration, this judgement is as bad as it can get.
it all depends on how well a system adapts itself to the changing trends.......it always not easy to be a commercial hub like London, Singapore, Dubai etc...... but the attempt on the part of the govt is to appreciated showing the changing trends in arbitration,,,,,,, Indian legal system has always been slow to adapt to the changing scenarios especially in accepting Arbitration or any other modes of ADR's ......
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