Arbitration in India
With the rapid globalization of the economy and the resulting increase in competition there has been a significant increase in commercial disputes. The outpaced rate of development has led to increase in industrial growth, modernization, improved socio-economic circumstances, technological development which in turn has led to an increase in case overloads for the already overburdened courts. Development and disputes are two sides of the same coin, which means that the alarming rate of development has its snag, which is the increasing number of the disputes in various sectors. The multiplying of outstanding cases in the courts, exorbitant delays in the administration of justice and expenses of litigation have continued to plague people thereby undermining their faith in the justice system. The issue at hand is to examine and choose a right formal legal system, such as Alternative Dispute Resolution procedures. India has a standing as being one of the oldest in the history of the ...
