On Sunday, Law Minister Kiren Rijiju batted for institutional arbitration in the country and pointed at loopholes in "ad hoc" arbitration, saying such proceedings are susceptible to court interventions that delay the final outcome.
Kiren Rijiju said artificial intelligence (AI) can help arbitrators in tasks such as document review and analysis, legal research, and drafting of awards.
Addressing a Delhi Arbitration Weekend event organized by Delhi International Arbitration Centre of Delhi High Court, Sh. Kiren Rijiju stated that majority of the people go for "ad hoc" arbitrations where pre-determined rules do not govern the proceedings.
As a result, these proceedings are susceptible to court intervention at various stages which leads to delay in final decision for the parties involved. On the other hand, Rijiju pointed out, institutional arbitrations are regulated by the rules of an institution that provide for a more structured and secure process.
In addition, parties can benefit from the expertise of the arbitral institution having good quality infrastructure, he added.
On Sunday, Law Minister Kiren Rijiju batted for institutional arbitration in the country and pointed at loopholes in "ad hoc" arbitration, saying such proceedings are susceptible to court interventions that delay the final outcome.
Kiren Rijiju said artificial intelligence (AI) can help arbitrators in tasks such as document review and analysis, legal research, and drafting of awards.
Addressing a Delhi Arbitration Weekend event organized by Delhi International Arbitration Centre of Delhi High Court, Sh. Kiren Rijiju stated that majority of the people go for "ad hoc" arbitrations where pre-determined rules do not govern the proceedings.
As a result, these proceedings are susceptible to court intervention at various stages which leads to delay in final decision for the parties involved. On the other hand, Rijiju pointed out, institutional arbitrations are regulated by the rules of an institution that provide for a more structured and secure process.
In addition, parties can benefit from the expertise of the arbitral institution having good quality infrastructure, he added.
He was of the view that EoDB is linked to 'Ease of living'.
Ease of living will be witnessed when there is prosperity in the society, and a robust system promoting 'Ease of Doing Business' atmosphere, he told the gathering.
Citing a World Bank EoDB Report, he said India takes as much as 1,445 days to resolve a dispute and 31 per cent of the claim value for dispute resolution is spent during the process.
He said the support of the judiciary is must to realise the objectives of ease of doing business and ease of living.
The judiciary, the minister noted, has also been receptive of the various measures which have been taken to strengthen the dispute resolution measures in the country.
He also said that India's courts must go paperless.
The Rs 7,000 crore allocated to Phase III of the e-courts project in the latest Union Budget is a testament to it.
The Union Law Minister expressed his privilege to be part of such an event and then spoke on the need to develop simultaneous support between the Judiciary and the Government and stated that“.. when courts initiate certain actions, the support from the government is expected.”
Further, the significance of nudging India towards institutional arbitration was highlighted. The shortcomings of ad hoc arbitration, which is predominantly preferred right now in the country, were brought to light by the Union Law Minister.
The reason for tilting towards ad hoc arbitration was pointed out i.e., no pre-determined rules or procedures. However, this is exactly what leads to delay in the proceedings as at each stage court intervention is required.
Institutional arbitration, on the other hand, as supported by Mr Kiren himself, has preset rules and procedures which provide a structure to the proceedings. He added that,“institutional arbitrations are regulated by the rules of an institution that provide for a more structured and secure process.”
Talking about the 2030 vision envisaged for India, he said, “the government wishes to see arbitration space remain dynamic, amendable to adopting best practices, as also conscious of the needs of time-bound and final adjudication of contractual disputes.”
In his opinion, the ease of doing business concept is proportionate to the ease of living. Furthering his support towards institutional arbitration he cited that as of now the average time taken to adjudicate on a dispute is 1445 days. To ensure ease of doing business in India, the support of the Judiciary is a must.
Apart from emphasizing the need to develop dispute resolution methods more efficient, Sh Kiren Rijiju stated that a paperless system of working was also spoken of.
“The whole system of institutional arbitration is crucial in creating and enhancing the ‘Ease of Doing Business Environment.” added Kiren Rijiju.
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(With input from news agency language)
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