New Delhi: Spiral Arbitration fees, have been mentioned and strongly promoted as the preferred alternative dispute mechanism, on Friday forcing the Supreme Court to seriously involve young and competent lawyers as HC and SC pensions.
In the case of Arbitration before retired HC Hakim, the parties expressed their frustration of retired judges repeatedly postponing trials in one pretext or another but continued to raise the costs for each sitting to leave the parties decent.
“With a folded hand, we begged the Supreme Court to stop the practice of certain pensioners who drag the arbitration process and amazing parties at an unreasonable cost of flowing to Lakh Rupees for each seat,” said lawyer to judicial benches Y Chandrachud and M.
The bench seemed very aware of the disease that was included in the mechanism for settlement of alternative disputes that were effective by non-moral retirees when acting as arbitrators.
Justice Chandrachud said that the Bombay High Court has compiled an innovative way to settle the average arbitration process by appointing young, competent and knowledgeable lawyers as arbitrators.
“Bombay HC has begun to appoint young lawyers as arbitrators, who consider it an honor to be chosen for assignments by HC.
They do the arbitration process smoothly and often charge a little,” SC said.
It assumes the significance because almost two decades, SC has encouraged arbitration and also takes steps towards making India International Arbitration Center.
Last week, CJI N V Ramana opened the process to establish an international arbitration center in Hyderabad and said that it would be an answer and guarantee for international investors who had concerns about the expensive and time-consuming Indian litigation process.
He added that this was the first step for the emergence of alternative dispute settlement facilities and expected it into reality in the next few months.