Arbitration has a Long Way to go in India


"I realized that the true function of a lawyer was to unite parties. A large part of my time during the 20 years of my practice as a lawyer was occupied in bringing about private compromises of hundreds of cases. I lost nothing thereby – not even money, certainly not my soul."
Mahatma Gandhi's words couldn't have been truer, especially at a time when the backlog of court cases is so colossal that alternate means of dispute resolution have evolved from being an alternative to being a necessity. Arbitration has, especially, gained popularity for business dispute resolution due to the fact that it allows for private settlement of disputes away from media attention and ensures confidentiality, unlike Courts which provide a public forum for dispute resolution.
However, anybody who has had firsthand experience of being involved in an arbitration would know that it has a long way to go before it achieves its desired purpose of becoming faster and more cost-effective than the traditional methods of dispute resolution. Law firms, with their varied fields of expertise and ready pool of talent, can play a vital role in driving this shift. Besides, opting for an experienced law firm is your only bet in securing the desired advantages from the arbitral procedure because it does hold the potential to take as long as and be as costly as litigation, unless handled with the care and expertise that it deserves.   

Main Resource: www.indialawllp.wordpress.com/arbitration-has-a-long-way-to-go-in-india/
 

Location: Mumbai, Maharashtra, India

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